Arizona State Retirement System lifted its holdings in shares of Nasdaq Inc (NASDAQ:NDAQ) by 7.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 98,820 shares of the financial services provider’s stock after buying an additional 6,482 shares during the quarter. Arizona State Retirement System’s holdings in Nasdaq were worth $7,592,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also made changes to their positions in the company. Delta Asset Management LLC TN boosted its stake in shares of Nasdaq by 6,087.0% during the fourth quarter. Delta Asset Management LLC TN now owns 1,423 shares of the financial services provider’s stock worth $109,000 after buying an additional 1,400 shares during the period. Invictus RG acquired a new stake in shares of Nasdaq during the third quarter worth about $111,000. Cerebellum GP LLC acquired a new stake in shares of Nasdaq during the fourth quarter worth about $125,000. Penserra Capital Management LLC boosted its stake in shares of Nasdaq by 85.5% during the fourth quarter. Penserra Capital Management LLC now owns 2,220 shares of the financial services provider’s stock worth $170,000 after buying an additional 1,023 shares during the period. Finally, Conning Inc. acquired a new stake in shares of Nasdaq during the third quarter worth about $200,000. Institutional investors and hedge funds own 76.68% of the company’s stock.
In related news, insider Edward S. Knight sold 13,200 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $79.41, for a total transaction of $1,048,212.00. Following the completion of the transaction, the insider now directly owns 73,569 shares of the company’s stock, valued at $5,842,114.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bradley J. Peterson sold 19,169 shares of the stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $80.70, for a total transaction of $1,546,938.30. Following the transaction, the insider now directly owns 32,214 shares of the company’s stock, valued at $2,599,669.80. The disclosure for this sale can be found here. Insiders have sold 42,837 shares of company stock valued at $3,442,932 over the last three months. 1.60% of the stock is currently owned by corporate insiders.
Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings results on Wednesday, January 31st. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.05. The firm had revenue of $635.00 million during the quarter, compared to analysts’ expectations of $628.36 million. Nasdaq had a net margin of 18.49% and a return on equity of 12.75%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.95 earnings per share. analysts predict that Nasdaq Inc will post 4.8 EPS for the current fiscal year.
Nasdaq declared that its Board of Directors has initiated a share buyback plan on Monday, January 29th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 16th will be issued a dividend of $0.38 per share. The ex-dividend date is Thursday, March 15th. This represents a $1.52 annualized dividend and a yield of 1.93%. Nasdaq’s dividend payout ratio is currently 39.90%.
Several brokerages have recently weighed in on NDAQ. Bank of America increased their target price on shares of Nasdaq from $79.00 to $82.00 and gave the stock an “underperform” rating in a research note on Thursday, February 1st. Zacks Investment Research downgraded shares of Nasdaq from a “buy” rating to a “hold” rating in a research note on Thursday, January 11th. BidaskClub upgraded shares of Nasdaq from a “hold” rating to a “buy” rating in a research note on Friday, January 12th. Jefferies Group reiterated a “hold” rating and set a $83.50 target price on shares of Nasdaq in a research note on Tuesday, January 16th. Finally, Wells Fargo & Co reiterated a “market perform” rating and set a $83.00 target price (up previously from $77.00) on shares of Nasdaq in a research note on Wednesday, January 10th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $82.05.
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Nasdaq Company Profile
Nasdaq, Inc (Nasdaq) is a holding company. The Company is a provider of trading, clearing, exchange technology, regulatory, securities listing, information and public company services. It manages, operates and provides its products and services through four segments: Market Services, Corporate Services, Information Services and Market Technology.
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