Synovus Financial Corp lifted its position in Nasdaq Inc (NASDAQ:NDAQ) by 5,285.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,885 shares of the financial services provider’s stock after purchasing an additional 1,850 shares during the period. Synovus Financial Corp’s holdings in Nasdaq were worth $162,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Nasdaq by 2.2% in the second quarter. BlackRock Inc. now owns 8,262,515 shares of the financial services provider’s stock worth $754,118,000 after purchasing an additional 176,258 shares in the last quarter. Bessemer Group Inc. increased its stake in shares of Nasdaq by 1.0% in the second quarter. Bessemer Group Inc. now owns 2,281,817 shares of the financial services provider’s stock worth $208,261,000 after purchasing an additional 23,297 shares in the last quarter. FMR LLC increased its stake in shares of Nasdaq by 82.1% in the second quarter. FMR LLC now owns 1,651,639 shares of the financial services provider’s stock worth $150,746,000 after purchasing an additional 744,666 shares in the last quarter. Frontier Capital Management Co. LLC increased its stake in shares of Nasdaq by 8.6% in the third quarter. Frontier Capital Management Co. LLC now owns 1,327,714 shares of the financial services provider’s stock worth $113,918,000 after purchasing an additional 105,489 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Nasdaq by 11.8% in the second quarter. Bank of America Corp DE now owns 1,252,592 shares of the financial services provider’s stock worth $114,324,000 after purchasing an additional 132,268 shares in the last quarter. 75.74% of the stock is owned by hedge funds and other institutional investors.
In other Nasdaq news, insider Ann M. Dennison sold 1,553 shares of the stock in a transaction on Monday, October 29th. The shares were sold at an average price of $83.67, for a total transaction of $129,939.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.40% of the stock is owned by company insiders.
NDAQ opened at $90.40 on Friday. The firm has a market cap of $14.93 billion, a P/E ratio of 22.27, a P/E/G ratio of 1.99 and a beta of 0.53. Nasdaq Inc has a fifty-two week low of $72.95 and a fifty-two week high of $96.84. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.94 and a quick ratio of 0.93.
Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings data on Wednesday, October 24th. The financial services provider reported $1.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.01. Nasdaq had a net margin of 17.95% and a return on equity of 13.69%. The business had revenue of $600.00 million during the quarter, compared to analyst estimates of $605.67 million. During the same quarter last year, the business earned $1.01 earnings per share. Nasdaq’s quarterly revenue was down .5% compared to the same quarter last year. As a group, research analysts predict that Nasdaq Inc will post 4.77 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, December 14th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $1.76 annualized dividend and a yield of 1.95%. Nasdaq’s dividend payout ratio (DPR) is currently 43.35%.
NDAQ has been the subject of several research analyst reports. Citigroup raised their target price on shares of Nasdaq from $89.00 to $95.00 and gave the company a “$95.59” rating in a research note on Wednesday, July 18th. UBS Group raised their target price on shares of Nasdaq from $101.00 to $107.00 and gave the company a “buy” rating in a research note on Thursday, July 26th. Zacks Investment Research raised shares of Nasdaq from a “sell” rating to a “buy” rating and set a $101.00 target price for the company in a research note on Tuesday, September 25th. Deutsche Bank cut their target price on shares of Nasdaq from $103.00 to $97.00 and set a “buy” rating for the company in a research note on Thursday, October 11th. Finally, ValuEngine raised shares of Nasdaq from a “hold” rating to a “buy” rating in a research note on Friday, October 26th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $95.62.
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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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