Victory Capital Management Inc. increased its holdings in shares of Nasdaq Inc (NASDAQ:NDAQ) by 2,599.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,650 shares of the financial services provider’s stock after purchasing an additional 47,811 shares during the period. Victory Capital Management Inc.’s holdings in Nasdaq were worth $4,281,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Delpha Capital Management LLC bought a new stake in Nasdaq in the 4th quarter valued at approximately $103,000. ARK Investment Management LLC bought a new stake in Nasdaq in the 4th quarter valued at approximately $122,000. Cerebellum GP LLC bought a new stake in Nasdaq in the 4th quarter valued at approximately $125,000. AlphaOne Investment Services LLC bought a new stake in Nasdaq in the 4th quarter valued at approximately $154,000. Finally, Penserra Capital Management LLC lifted its stake in Nasdaq by 85.5% in the 4th quarter. Penserra Capital Management LLC now owns 2,220 shares of the financial services provider’s stock valued at $170,000 after acquiring an additional 1,023 shares in the last quarter. Institutional investors and hedge funds own 74.81% of the company’s stock.
Shares of Nasdaq opened at $92.61 on Friday, Marketbeat Ratings reports. Nasdaq Inc has a 12-month low of $67.20 and a 12-month high of $92.72. The company has a market cap of $15.34 billion, a PE ratio of 22.81, a P/E/G ratio of 1.94 and a beta of 0.66. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.55.
Nasdaq (NASDAQ:NDAQ) last posted its earnings results on Wednesday, April 25th. The financial services provider reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The business had revenue of $735.00 million for the quarter, compared to analyst estimates of $649.55 million. Nasdaq had a return on equity of 12.93% and a net margin of 17.88%. The firm’s revenue was up 21.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.10 EPS. equities analysts expect that Nasdaq Inc will post 4.89 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 15th will be issued a dividend of $0.44 per share. The ex-dividend date is Thursday, June 14th. This is a positive change from Nasdaq’s previous quarterly dividend of $0.38. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.90%. Nasdaq’s payout ratio is presently 37.44%.
Nasdaq declared that its board has authorized a share repurchase program on Monday, January 29th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
NDAQ has been the topic of several research reports. Bank of America boosted their target price on Nasdaq from $79.00 to $82.00 and gave the company an “underperform” rating in a research note on Thursday, February 1st. Wells Fargo & Co upgraded Nasdaq from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $83.00 to $85.00 in a research note on Monday, February 12th. ValuEngine upgraded Nasdaq from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. UBS reiterated a “buy” rating and set a $100.00 price objective (up previously from $97.00) on shares of Nasdaq in a research note on Tuesday, March 6th. Finally, Deutsche Bank upped their price objective on Nasdaq from $89.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, March 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $88.27.
In related news, insider Pc Nelson Griggs sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 9th. The stock was sold at an average price of $89.42, for a total transaction of $178,840.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Edward S. Knight sold 26,258 shares of the business’s stock in a transaction that occurred on Friday, April 27th. The stock was sold at an average price of $88.20, for a total value of $2,315,955.60. Following the transaction, the executive vice president now directly owns 86,627 shares in the company, valued at $7,640,501.40. The disclosure for this sale can be found here. Insiders have sold a total of 29,658 shares of company stock worth $2,618,346 over the last three months. 0.40% of the stock is owned by insiders.
Nasdaq Company Profile
Nasdaq, Inc provides trading, clearing, marketplace technology, regulatory, securities listing, information, and public and private company services worldwide. The company's Market Services segment offers equity derivative trading and clearing; cash equity trading; fixed income and commodities trading and clearing; and trade management services.
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