Nasdaq, Inc. (NDAQ) Position Reduced by Westpac Banking Corp

Westpac Banking Corp lowered its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 99.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,978 shares of the financial services provider’s stock after selling 1,377,116 shares during the period. Westpac Banking Corp’s holdings in Nasdaq were worth $570,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Commerce Bank grew its stake in Nasdaq by 1.9% during the second quarter. Commerce Bank now owns 283,835 shares of the financial services provider’s stock worth $20,292,000 after purchasing an additional 5,401 shares during the period. Principal Financial Group Inc. boosted its holdings in Nasdaq by 0.3% in the second quarter. Principal Financial Group Inc. now owns 174,415 shares of the financial services provider’s stock worth $12,469,000 after acquiring an additional 503 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in Nasdaq by 8.6% in the second quarter. Pacer Advisors Inc. now owns 2,568 shares of the financial services provider’s stock worth $184,000 after acquiring an additional 203 shares in the last quarter. Utah Retirement Systems boosted its holdings in Nasdaq by 1.5% in the second quarter. Utah Retirement Systems now owns 20,818 shares of the financial services provider’s stock worth $1,489,000 after acquiring an additional 300 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Nasdaq by 11.4% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 259,106 shares of the financial services provider’s stock worth $18,523,000 after acquiring an additional 26,517 shares in the last quarter. 74.31% of the stock is owned by institutional investors and hedge funds.

In related news, insider Edward S. Knight sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $74.39, for a total value of $1,115,850.00. Following the sale, the insider now owns 78,063 shares in the company, valued at approximately $5,807,106.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Edward S. Knight sold 14,629 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $76.74, for a total value of $1,122,629.46. The disclosure for this sale can be found here. Insiders have sold a total of 36,844 shares of company stock worth $2,788,100 in the last quarter. Company insiders own 1.60% of the company’s stock.

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Nasdaq, Inc. (NDAQ) opened at 74.69 on Friday. The company has a market cap of $12.46 billion, a price-to-earnings ratio of 56.76 and a beta of 0.77. The stock has a 50 day moving average price of $75.22 and a 200-day moving average price of $71.15. Nasdaq, Inc. has a 12-month low of $63.30 and a 12-month high of $77.75.

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

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.04%. Nasdaq’s dividend payout ratio (DPR) is 118.75%.

NDAQ has been the topic of several recent research reports. BidaskClub upgraded Nasdaq from a “hold” rating to a “buy” rating in a report on Friday, August 4th. Barclays PLC initiated coverage on Nasdaq in a report on Friday, September 8th. They issued an “overweight” rating and a $85.00 price target on the stock. Royal Bank Of Canada set a $74.00 price target on Nasdaq and gave the stock a “hold” rating in a report on Monday, July 17th. Jefferies Group LLC reiterated a “hold” rating and issued a $71.00 price target (up previously from $68.00) on shares of Nasdaq in a report on Monday, July 17th. Finally, Zacks Investment Research lowered Nasdaq from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $76.10.

Nasdaq 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.

Institutional Ownership by Quarter for Nasdaq (NASDAQ:NDAQ)

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