Investors Buy Shares of Nasdaq, Inc. (NDAQ) on Weakness

Investors purchased shares of Nasdaq, Inc. (NASDAQ:NDAQ) on weakness during trading hours on Monday. $29.68 million flowed into the stock on the tick-up and $12.13 million flowed out of the stock on the tick-down, for a money net flow of $17.55 million into the stock. Of all stocks tracked, Nasdaq had the 18th highest net in-flow for the day. Nasdaq traded down ($0.18) for the day and closed at $74.17

A number of analysts have recently issued reports on NDAQ shares. BidaskClub raised shares of Nasdaq from a “sell” rating to a “hold” rating in a report on Thursday, June 29th. Keefe, Bruyette & Woods set a $76.00 price target on shares of Nasdaq and gave the company a “hold” rating in a report on Thursday, August 17th. Citigroup Inc. started coverage on shares of Nasdaq in a report on Wednesday, July 12th. They set a “neutral” rating and a $72.00 price target on the stock. Zacks Investment Research downgraded shares of Nasdaq from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Finally, Royal Bank Of Canada set a $74.00 price target on shares of Nasdaq and gave the company a “hold” rating in a report on Monday, July 17th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $76.10.

The firm has a market cap of $12.51 billion, a P/E ratio of 57.01 and a beta of 0.77. The stock has a 50-day moving average price of $75.09 and a 200-day moving average price of $71.08.

Nasdaq (NASDAQ:NDAQ) last issued its earnings results on Wednesday, July 26th. The financial services provider reported $1.02 EPS for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.06. The firm had revenue of $602.00 million for the quarter, compared to analyst estimates of $596.55 million. Nasdaq had a return on equity of 12.19% and a net margin of 5.76%. Nasdaq’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.91 earnings per share. On average, analysts expect that Nasdaq, Inc. will post $4.17 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a $0.38 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.52 dividend on an annualized basis and a yield of 2.03%. Nasdaq’s dividend payout ratio is currently 118.75%.

In related news, insider Ann M. Dennison sold 1,170 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $76.32, for a total value of $89,294.40. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Edward S. Knight sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $74.39, for a total value of $1,115,850.00. Following the completion of the sale, the insider now owns 78,063 shares in the company, valued at approximately $5,807,106.57. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,844 shares of company stock worth $2,788,100. 1.60% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC boosted its position in Nasdaq by 0.4% in the first quarter. Janney Montgomery Scott LLC now owns 3,603 shares of the financial services provider’s stock valued at $250,000 after buying an additional 15 shares during the last quarter. Palo Capital Inc. boosted its position in Nasdaq by 0.4% in the second quarter. Palo Capital Inc. now owns 10,759 shares of the financial services provider’s stock valued at $769,000 after buying an additional 45 shares during the last quarter. CIBC Asset Management Inc boosted its position in Nasdaq by 0.4% in the second quarter. CIBC Asset Management Inc now owns 12,260 shares of the financial services provider’s stock valued at $876,000 after buying an additional 50 shares during the last quarter. Stanley Laman Group Ltd. boosted its position in Nasdaq by 0.6% in the second quarter. Stanley Laman Group Ltd. now owns 9,457 shares of the financial services provider’s stock valued at $676,000 after buying an additional 57 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its position in Nasdaq by 3.4% in the first quarter. Pacer Advisors Inc. now owns 2,365 shares of the financial services provider’s stock valued at $164,000 after buying an additional 77 shares during the last quarter. Hedge funds and other institutional investors own 74.31% of the company’s stock.

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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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