Wakefield Asset Management LLLP Makes New Investment in Nasdaq, Inc. (NASDAQ:NDAQ)

Wakefield Asset Management LLLP bought a new position in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,603 shares of the financial services provider's stock, valued at approximately $273,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NDAQ. Laird Norton Wetherby Wealth Management LLC increased its position in shares of Nasdaq by 1.0% during the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 16,303 shares of the financial services provider's stock valued at $1,260,000 after purchasing an additional 157 shares during the period. Gamco Investors INC. ET AL increased its position in shares of Nasdaq by 4.2% during the fourth quarter. Gamco Investors INC. ET AL now owns 4,103 shares of the financial services provider's stock valued at $317,000 after purchasing an additional 164 shares during the period. Wesbanco Bank Inc. increased its position in shares of Nasdaq by 7.1% during the first quarter. Wesbanco Bank Inc. now owns 2,829 shares of the financial services provider's stock valued at $215,000 after purchasing an additional 187 shares during the period. Grove Bank & Trust increased its position in shares of Nasdaq by 194.6% during the first quarter. Grove Bank & Trust now owns 327 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 216 shares during the period. Finally, Compass Capital Corp MA ADV increased its position in shares of Nasdaq by 1.4% during the first quarter. Compass Capital Corp MA ADV now owns 15,995 shares of the financial services provider's stock valued at $1,201,000 after purchasing an additional 216 shares during the period. 72.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Nasdaq

In other news, EVP Jeremy Skule sold 2,105 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $89.17, for a total transaction of $187,702.85. Following the completion of the transaction, the executive vice president owned 94,656 shares in the company, valued at approximately $8,440,475.52. This trade represents a 2.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Pc Nelson Griggs sold 8,000 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $83.03, for a total transaction of $664,240.00. Following the completion of the sale, the insider directly owned 211,405 shares of the company's stock, valued at $17,552,957.15. This trade represents a 3.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,613 shares of company stock worth $1,874,659 in the last 90 days. Corporate insiders own 0.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Keefe, Bruyette & Woods upped their price target on Nasdaq from $103.00 to $104.00 and gave the company an "outperform" rating in a research report on Friday. Piper Sandler reiterated an "overweight" rating and issued a $97.00 price target (up from $83.00) on shares of Nasdaq in a research report on Tuesday, July 15th. Deutsche Bank Aktiengesellschaft upped their price target on Nasdaq from $97.00 to $105.00 and gave the company a "buy" rating in a research report on Friday. UBS Group upgraded Nasdaq from a "neutral" rating to a "buy" rating and increased their target price for the stock from $95.00 to $115.00 in a report on Friday. Finally, Raymond James Financial restated an "outperform" rating and set a $96.00 target price (up previously from $84.00) on shares of Nasdaq in a report on Wednesday, July 9th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $96.63.

Nasdaq Stock Up 1.4%

Shares of Nasdaq stock traded up $1.34 during trading hours on Friday, reaching $94.84. 5,276,392 shares of the company were exchanged, compared to its average volume of 3,344,174. The firm has a market cap of $54.45 billion, a PE ratio of 43.11, a PEG ratio of 2.12 and a beta of 1.01. The stock's fifty day moving average is $86.87 and its 200 day moving average is $80.60. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.98 and a current ratio of 0.98. Nasdaq, Inc. has a 1 year low of $64.33 and a 1 year high of $95.49.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.85 earnings per share for the quarter, topping analysts' consensus estimates of $0.78 by $0.07. The business had revenue of $1.31 billion during the quarter, compared to analysts' expectations of $1.26 billion. Nasdaq had a net margin of 16.36% and a return on equity of 15.38%. The company's revenue was up 12.7% on a year-over-year basis. During the same period last year, the company posted $0.69 EPS. As a group, equities research analysts forecast that Nasdaq, Inc. will post 3.18 earnings per share for the current year.

Nasdaq Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.14%. Nasdaq's dividend payout ratio (DPR) is presently 49.09%.

About Nasdaq

Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. It operates in three segments: Capital Access Platforms, Financial Technology, and Market Services. The Capital Access Platforms segment sells and distributes historical and real-time market data; and develops and licenses Nasdaq-branded indices and financial products.