Nasdaq, Inc. (NASDAQ:NDAQ) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank increased its stake in Nasdaq, Inc. by 7.6%, acquiring an additional 27,034 shares, bringing its total ownership to 382,334 shares valued at approximately $29 million.
• Multiple analysts have upgraded their ratings on Nasdaq, with Deutsche Bank raising its price target from $97 to $105, and UBS Group increasing its target from $95 to $115.
• Nasdaq, Inc. recently announced a quarterly dividend of $0.27 per share, which represents an annual yield of 1.14%, supported by a payout ratio of 41.54%.

Zurcher Kantonalbank Zurich Cantonalbank grew its position in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 7.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 382,334 shares of the financial services provider's stock after buying an additional 27,034 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.07% of Nasdaq worth $29,004,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Janney Montgomery Scott LLC grew its holdings in Nasdaq by 7.7% in the first quarter. Janney Montgomery Scott LLC now owns 43,161 shares of the financial services provider's stock worth $3,274,000 after purchasing an additional 3,096 shares during the last quarter. USA Financial Formulas boosted its position in shares of Nasdaq by 61.1% in the 1st quarter. USA Financial Formulas now owns 17,842 shares of the financial services provider's stock worth $1,353,000 after purchasing an additional 6,764 shares in the last quarter. Principal Financial Group Inc. grew its stake in Nasdaq by 1.2% during the 1st quarter. Principal Financial Group Inc. now owns 2,268,620 shares of the financial services provider's stock worth $172,098,000 after buying an additional 27,622 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Nasdaq during the 4th quarter worth $48,749,000. Finally, FUKOKU MUTUAL LIFE INSURANCE Co acquired a new position in Nasdaq during the 1st quarter valued at about $222,000. Hedge funds and other institutional investors own 72.47% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on NDAQ shares. Morgan Stanley raised their price target on Nasdaq from $75.00 to $86.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. Raymond James Financial reaffirmed an "outperform" rating and issued a $96.00 price objective (up from $84.00) on shares of Nasdaq in a research report on Wednesday, July 9th. Redburn Atlantic raised shares of Nasdaq from a "neutral" rating to a "buy" rating and set a $91.00 target price on the stock in a research report on Thursday, April 17th. The Goldman Sachs Group restated a "buy" rating on shares of Nasdaq in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Nasdaq from $97.00 to $105.00 and gave the stock a "buy" rating in a research note on Friday. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $96.63.

Nasdaq Stock Performance

Shares of NDAQ stock traded up $0.30 on Monday, hitting $95.14. The company had a trading volume of 5,122,008 shares, compared to its average volume of 3,253,929. Nasdaq, Inc. has a twelve month low of $64.33 and a twelve month high of $95.55. The company has a quick ratio of 0.98, a current ratio of 0.96 and a debt-to-equity ratio of 0.73. The firm has a market cap of $54.62 billion, a P/E ratio of 36.59, a price-to-earnings-growth ratio of 2.25 and a beta of 1.01. The company has a 50-day moving average price of $87.14 and a 200-day moving average price of $80.77.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.07. Nasdaq had a return on equity of 15.90% and a net margin of 18.59%. The company had revenue of $1.31 billion during the quarter, compared to analysts' expectations of $1.26 billion. During the same period last year, the business earned $0.69 earnings per share. Nasdaq's quarterly revenue was up 12.7% on a year-over-year basis. As a group, equities research analysts predict that Nasdaq, Inc. will post 3.18 earnings per share for the current fiscal year.

Nasdaq Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend is Friday, September 12th. Nasdaq's dividend payout ratio is currently 41.54%.

Insider Buying and Selling

In other news, EVP Bradley J. Peterson sold 11,508 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $88.87, for a total transaction of $1,022,715.96. Following the sale, the executive vice president directly owned 111,035 shares in the company, valued at $9,867,680.45. This trade represents a 9.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Pc Nelson Griggs sold 8,000 shares of Nasdaq stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $83.03, for a total value of $664,240.00. Following the completion of the transaction, the insider owned 211,405 shares of the company's stock, valued at approximately $17,552,957.15. This represents a 3.65% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,613 shares of company stock valued at $1,874,659. Corporate insiders own 0.70% of the company's stock.

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.