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

Investors purchased shares of Nasdaq, Inc. (NASDAQ:NDAQ) on weakness during trading hours on Wednesday. $32.02 million flowed into the stock on the tick-up and $11.24 million flowed out of the stock on the tick-down, for a money net flow of $20.78 million into the stock. Of all equities tracked, Nasdaq had the 23rd highest net in-flow for the day. Nasdaq traded down ($0.11) for the day and closed at $74.60

Several analysts have issued reports on NDAQ shares. BidaskClub raised Nasdaq from a “hold” rating to a “buy” rating in a research note on Friday, August 4th. Barclays PLC began coverage on Nasdaq in a research report on Friday, September 8th. They issued an “overweight” rating and a $85.00 price objective for the company. Zacks Investment Research downgraded Nasdaq from a “hold” rating to a “sell” rating in a research report on Monday, October 9th. Royal Bank Of Canada set a $74.00 price objective on Nasdaq and gave the company a “hold” rating in a research report on Monday, July 17th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $78.00 price objective on shares of Nasdaq in a research report on Thursday, October 12th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $77.50.

The stock has a market capitalization of $12.17 billion, a price-to-earnings ratio of 55.43 and a beta of 0.77. The stock has a 50-day moving average price of $75.49 and a 200-day moving average price of $72.12.

Nasdaq (NASDAQ:NDAQ) last issued its earnings results on Wednesday, July 26th. The financial services provider reported $1.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.06. The business had revenue of $602.00 million during 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 was up 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.91 EPS. Analysts forecast that Nasdaq, Inc. will post $4.16 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend was Thursday, September 14th. Nasdaq’s dividend payout ratio (DPR) is presently 118.75%.

In other news, insider Edward S. Knight sold 15,000 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now directly owns 78,063 shares of the company’s stock, valued at approximately $5,807,106.57. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Bjorn Sibbern sold 3,000 shares of the business’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $76.17, for a total value of $228,510.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,844 shares of company stock valued at $2,788,100. 1.60% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Nasdaq by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 11,470,748 shares of the financial services provider’s stock worth $820,043,000 after acquiring an additional 208,253 shares in the last quarter. Clearbridge Investments LLC raised its position in shares of Nasdaq by 13.1% in the 1st quarter. Clearbridge Investments LLC now owns 3,094,734 shares of the financial services provider’s stock worth $214,929,000 after acquiring an additional 358,414 shares in the last quarter. Bessemer Group Inc. raised its position in shares of Nasdaq by 43.5% in the 2nd quarter. Bessemer Group Inc. now owns 2,332,475 shares of the financial services provider’s stock worth $166,749,000 after acquiring an additional 707,537 shares in the last quarter. BT Investment Management Ltd bought a new position in shares of Nasdaq in the 2nd quarter worth $97,982,000. Finally, TimesSquare Capital Management LLC raised its position in shares of Nasdaq by 21.9% in the 2nd quarter. TimesSquare Capital Management LLC now owns 1,203,500 shares of the financial services provider’s stock worth $86,038,000 after acquiring an additional 216,100 shares in the last quarter. 74.44% of the stock is owned by hedge funds and other institutional investors.

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About Nasdaq

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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