SPC Financial Inc. Sells 225 Shares of Nasdaq, Inc. $NDAQ

SPC Financial Inc. lessened its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 1.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,815 shares of the financial services provider’s stock after selling 225 shares during the quarter. SPC Financial Inc.’s holdings in Nasdaq were worth $1,056,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. CWM LLC boosted its position in Nasdaq by 106.2% during the 2nd quarter. CWM LLC now owns 30,179 shares of the financial services provider’s stock valued at $2,699,000 after acquiring an additional 15,545 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in Nasdaq by 20.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 49,159 shares of the financial services provider’s stock valued at $4,396,000 after acquiring an additional 8,476 shares in the last quarter. Tranquility Partners LLC bought a new stake in Nasdaq during the 2nd quarter valued at $669,000. Concurrent Investment Advisors LLC boosted its position in Nasdaq by 59.1% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 29,002 shares of the financial services provider’s stock valued at $2,593,000 after acquiring an additional 10,771 shares in the last quarter. Finally, Cerro Pacific Wealth Advisors LLC bought a new stake in Nasdaq during the 2nd quarter valued at $208,000. Institutional investors own 72.47% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on NDAQ. Raymond James Financial reaffirmed an “outperform” rating and set a $96.00 target price (up previously from $84.00) on shares of Nasdaq in a research report on Wednesday, July 9th. Deutsche Bank Aktiengesellschaft raised their price objective on Nasdaq from $97.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Weiss Ratings reissued a “buy (b)” rating on shares of Nasdaq in a research report on Saturday, September 27th. Royal Bank Of Canada reissued an “outperform” rating and issued a $108.00 price objective on shares of Nasdaq in a research report on Thursday. Finally, Barclays reissued an “overweight” rating and issued a $108.00 price objective (down previously from $109.00) on shares of Nasdaq in a research report on Wednesday. Fifteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $97.25.

Insiders Place Their Bets

In related news, EVP Jeremy Skule sold 2,105 shares of the firm’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $95.49, for a total value of $201,006.45. Following the completion of the transaction, the executive vice president owned 92,551 shares in the company, valued at $8,837,694.99. This trade represents a 2.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Michelle Lynn Daly sold 8,691 shares of the firm’s stock in a transaction on Friday, July 25th. The stock was sold at an average price of $93.45, for a total value of $812,173.95. Following the completion of the transaction, the senior vice president owned 8,879 shares of the company’s stock, valued at $829,742.55. This trade represents a 49.46% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.

Nasdaq Stock Performance

Shares of NDAQ stock opened at $88.90 on Friday. The firm has a market capitalization of $51.01 billion, a price-to-earnings ratio of 34.19, a price-to-earnings-growth ratio of 2.02 and a beta of 0.98. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.96 and a quick ratio of 0.96. The business has a fifty day moving average of $92.68 and a 200 day moving average of $85.94. Nasdaq, Inc. has a 1 year low of $64.84 and a 1 year high of $97.63.

Nasdaq (NASDAQ:NDAQ) last issued its earnings results on Thursday, July 24th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.07. The company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.26 billion. Nasdaq had a return on equity of 15.90% and a net margin of 18.59%.The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the business posted $0.69 EPS. As a group, research analysts expect that Nasdaq, Inc. will post 3.18 earnings per share for the current year.

Nasdaq Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were paid a $0.27 dividend. The ex-dividend date was Friday, September 12th. This represents a $1.08 dividend on an annualized basis and a yield of 1.2%. Nasdaq’s dividend payout ratio (DPR) is 41.54%.

About Nasdaq

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.