Accent Capital Management LLC Trims Holdings in Nasdaq, Inc. (NASDAQ:NDAQ)

Accent Capital Management LLC reduced its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 81.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 800 shares of the financial services provider’s stock after selling 3,429 shares during the period. Accent Capital Management LLC’s holdings in Nasdaq were worth $58,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Y.D. More Investments Ltd grew its holdings in shares of Nasdaq by 94.8% in the second quarter. Y.D. More Investments Ltd now owns 415 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 202 shares during the period. Hobbs Group Advisors LLC purchased a new stake in shares of Nasdaq in the 2nd quarter valued at approximately $26,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Nasdaq during the 3rd quarter worth approximately $27,000. Crewe Advisors LLC raised its position in shares of Nasdaq by 164.4% during the 2nd quarter. Crewe Advisors LLC now owns 505 shares of the financial services provider’s stock valued at $30,000 after buying an additional 314 shares during the period. Finally, LRI Investments LLC purchased a new stake in shares of Nasdaq during the 1st quarter valued at approximately $31,000. 72.47% of the stock is currently owned by hedge funds and other institutional investors.

Nasdaq Price Performance

Shares of NASDAQ NDAQ opened at $78.76 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market cap of $45.27 billion, a price-to-earnings ratio of 47.16, a price-to-earnings-growth ratio of 3.07 and a beta of 0.95. The stock’s 50-day moving average is $74.28 and its two-hundred day moving average is $67.40. Nasdaq, Inc. has a 1-year low of $53.36 and a 1-year high of $80.77.

Nasdaq (NASDAQ:NDAQ) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. Nasdaq had a net margin of 13.67% and a return on equity of 14.56%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the firm earned $0.71 earnings per share. The business’s quarterly revenue was up 21.9% compared to the same quarter last year. Analysts forecast that Nasdaq, Inc. will post 2.78 EPS for the current fiscal year.

Nasdaq Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a dividend of $0.24 per share. The ex-dividend date is Friday, December 6th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.22%. Nasdaq’s payout ratio is currently 57.49%.

Insider Activity at Nasdaq

In related news, EVP Jeremy Skule sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $77.92, for a total value of $935,040.00. Following the completion of the transaction, the executive vice president now directly owns 114,580 shares of the company’s stock, valued at $8,928,073.60. This represents a 9.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Bradley J. Peterson sold 13,642 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $75.32, for a total transaction of $1,027,515.44. Following the sale, the executive vice president now directly owns 142,830 shares in the company, valued at approximately $10,757,955.60. The trade was a 8.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,384 shares of company stock valued at $2,860,902 over the last quarter. 0.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on NDAQ. Piper Sandler raised their target price on Nasdaq from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Bank of America reduced their price objective on shares of Nasdaq from $90.00 to $88.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Argus increased their target price on shares of Nasdaq from $76.00 to $82.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. StockNews.com upgraded shares of Nasdaq from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Finally, UBS Group upped their price objective on shares of Nasdaq from $73.00 to $79.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Nasdaq has an average rating of “Moderate Buy” and an average target price of $80.87.

Nasdaq Company 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.