7,711 Shares in Nasdaq, Inc. (NASDAQ:NDAQ) Acquired by Summit Global Investments

Summit Global Investments purchased a new position in Nasdaq, Inc. (NASDAQ:NDAQ) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 7,711 shares of the financial services provider’s stock, valued at approximately $448,000.

Other institutional investors also recently modified their holdings of the company. Coldstream Capital Management Inc. raised its position in shares of Nasdaq by 5.6% during the third quarter. Coldstream Capital Management Inc. now owns 4,788 shares of the financial services provider’s stock worth $233,000 after purchasing an additional 255 shares during the period. State of Michigan Retirement System raised its holdings in shares of Nasdaq by 0.3% during the fourth quarter. State of Michigan Retirement System now owns 93,190 shares of the financial services provider’s stock valued at $5,418,000 after acquiring an additional 300 shares during the period. Arizona State Retirement System boosted its stake in Nasdaq by 0.3% in the 3rd quarter. Arizona State Retirement System now owns 93,723 shares of the financial services provider’s stock worth $4,554,000 after purchasing an additional 306 shares during the period. Avitas Wealth Management LLC raised its stake in Nasdaq by 1.7% during the 4th quarter. Avitas Wealth Management LLC now owns 19,094 shares of the financial services provider’s stock valued at $1,110,000 after purchasing an additional 315 shares during the period. Finally, Allworth Financial LP raised its position in Nasdaq by 74.9% during the fourth quarter. Allworth Financial LP now owns 815 shares of the financial services provider’s stock valued at $47,000 after buying an additional 349 shares during the period. Institutional investors own 72.47% of the company’s stock.

Nasdaq Price Performance

Shares of NDAQ stock opened at $60.87 on Monday. The company has a market capitalization of $35.01 billion, a P/E ratio of 32.04, a P/E/G ratio of 3.36 and a beta of 0.94. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.90. Nasdaq, Inc. has a 12 month low of $46.88 and a 12 month high of $64.25. The stock has a 50 day moving average of $60.34 and a two-hundred day moving average of $56.90.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.02). Nasdaq had a net margin of 15.98% and a return on equity of 17.00%. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period last year, the firm earned $0.69 EPS. The company’s quarterly revenue was up 22.2% compared to the same quarter last year. As a group, equities analysts expect that Nasdaq, Inc. will post 2.69 EPS for the current year.

Nasdaq Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.24 per share. This is a boost from Nasdaq’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.96 dividend on an annualized basis and a yield of 1.58%. Nasdaq’s dividend payout ratio (DPR) is currently 46.32%.

Insider Buying and Selling at Nasdaq

In other news, major shareholder Dubai Ltd Borse sold 31,000,000 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $58.00, for a total value of $1,798,000,000.00. Following the completion of the transaction, the insider now directly owns 58,341,545 shares of the company’s stock, valued at approximately $3,383,809,610. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Nasdaq news, EVP Bryan Everard Smith sold 3,036 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $59.89, for a total transaction of $181,826.04. Following the sale, the executive vice president now directly owns 58,636 shares of the company’s stock, valued at $3,511,710.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Dubai Ltd Borse sold 31,000,000 shares of Nasdaq stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $58.00, for a total transaction of $1,798,000,000.00. Following the completion of the transaction, the insider now owns 58,341,545 shares of the company’s stock, valued at approximately $3,383,809,610. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 31,010,436 shares of company stock valued at $1,798,647,360. 0.75% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

NDAQ has been the subject of a number of research analyst reports. Oppenheimer increased their target price on shares of Nasdaq from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Barclays dropped their price objective on Nasdaq from $76.00 to $73.00 and set an “overweight” rating on the stock in a report on Friday, April 26th. Morgan Stanley upgraded shares of Nasdaq from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $59.00 to $80.00 in a research note on Tuesday, April 9th. Edward Jones assumed coverage on shares of Nasdaq in a research report on Wednesday, April 3rd. They set a “buy” rating on the stock. Finally, Piper Sandler increased their price objective on Nasdaq from $70.00 to $71.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $66.92.

Nasdaq Profile

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.