Simplicity Wealth LLC Buys 3,179 Shares of Nasdaq, Inc. $NDAQ

Simplicity Wealth LLC grew its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 104.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 6,210 shares of the financial services provider’s stock after purchasing an additional 3,179 shares during the quarter. Simplicity Wealth LLC’s holdings in Nasdaq were worth $555,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Bruce G. Allen Investments LLC boosted its holdings in Nasdaq by 72.7% in the second quarter. Bruce G. Allen Investments LLC now owns 285 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 120 shares in the last quarter. Vestcor Inc boosted its holdings in Nasdaq by 1.6% in the first quarter. Vestcor Inc now owns 8,825 shares of the financial services provider’s stock worth $669,000 after acquiring an additional 141 shares in the last quarter. Sax Wealth Advisors LLC boosted its holdings in Nasdaq by 0.5% in the first quarter. Sax Wealth Advisors LLC now owns 30,082 shares of the financial services provider’s stock worth $2,282,000 after acquiring an additional 144 shares in the last quarter. Wesbanco Bank Inc. lifted its holdings in shares of Nasdaq by 7.1% during the first quarter. Wesbanco Bank Inc. now owns 2,829 shares of the financial services provider’s stock valued at $215,000 after purchasing an additional 187 shares in the last quarter. Finally, Grove Bank & Trust boosted its position in shares of Nasdaq by 194.6% during the first quarter. Grove Bank & Trust now owns 327 shares of the financial services provider’s stock valued at $25,000 after buying an additional 216 shares during the last quarter. 72.47% of the stock is owned by institutional investors.

Nasdaq Stock Performance

Shares of NASDAQ NDAQ opened at $88.44 on Wednesday. Nasdaq, Inc. has a 12-month low of $64.84 and a 12-month high of $97.63. The firm has a market capitalization of $50.75 billion, a price-to-earnings ratio of 34.02, a price-to-earnings-growth ratio of 2.01 and a beta of 0.98. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.73. The firm has a 50 day moving average of $93.02 and a 200 day moving average of $85.68.

Nasdaq (NASDAQ:NDAQ) last released its earnings results on Thursday, July 24th. The financial services provider reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.07. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.26 billion. Nasdaq had a return on equity of 15.90% and a net margin of 18.59%.Nasdaq’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.69 earnings per share. On average, research analysts anticipate that Nasdaq, Inc. will post 3.18 earnings per share for the current year.

Nasdaq Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, September 12th. Nasdaq’s payout ratio is presently 41.54%.

Insider Transactions at Nasdaq

In other news, SVP Michelle Lynn Daly sold 8,691 shares of Nasdaq stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $93.45, for a total transaction of $812,173.95. Following the transaction, the senior vice president directly owned 8,879 shares of the company’s stock, valued at $829,742.55. The trade was a 49.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jeremy Skule sold 2,105 shares of Nasdaq stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $95.49, for a total value of $201,006.45. Following the transaction, the executive vice president directly owned 92,551 shares in the company, valued at approximately $8,837,694.99. The trade was a 2.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on NDAQ shares. Barclays lifted their price objective on Nasdaq from $101.00 to $109.00 and gave the stock an “overweight” rating in a report on Friday, July 25th. Royal Bank Of Canada lifted their price objective on Nasdaq from $95.00 to $108.00 and gave the stock an “outperform” rating in a report on Friday, July 25th. Raymond James Financial reiterated an “outperform” rating and issued a $96.00 price objective (up from $84.00) on shares of Nasdaq in a report on Wednesday, July 9th. Keefe, Bruyette & Woods lifted their price objective on Nasdaq from $103.00 to $104.00 and gave the stock an “outperform” rating in a report on Friday, July 25th. Finally, Piper Sandler lifted their price objective on Nasdaq from $97.00 to $104.00 and gave the stock an “overweight” rating in a report on Monday, August 4th. Fifteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Nasdaq presently has a consensus rating of “Moderate Buy” and an average target price of $97.31.

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.