Texas Permanent School Fund Increases Position in Nasdaq, Inc. (NASDAQ:NDAQ)

Texas Permanent School Fund boosted its holdings in Nasdaq, Inc. (NASDAQ:NDAQGet Rating) by 215.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 47,959 shares of the financial services provider’s stock after purchasing an additional 32,734 shares during the quarter. Texas Permanent School Fund’s holdings in Nasdaq were worth $2,718,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Venture Visionary Partners LLC purchased a new stake in Nasdaq in the second quarter worth about $28,000. Allworth Financial LP grew its holdings in shares of Nasdaq by 838.5% during the third quarter. Allworth Financial LP now owns 488 shares of the financial services provider’s stock valued at $28,000 after buying an additional 436 shares during the last quarter. Crewe Advisors LLC purchased a new stake in shares of Nasdaq during the second quarter valued at approximately $31,000. Pinebridge Investments L.P. grew its holdings in shares of Nasdaq by 110.0% during the second quarter. Pinebridge Investments L.P. now owns 210 shares of the financial services provider’s stock valued at $32,000 after buying an additional 110 shares during the last quarter. Finally, Mascoma Wealth Management LLC grew its holdings in shares of Nasdaq by 172.5% during the third quarter. Mascoma Wealth Management LLC now owns 564 shares of the financial services provider’s stock valued at $32,000 after buying an additional 357 shares during the last quarter. Hedge funds and other institutional investors own 73.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Bank of America cut shares of Nasdaq from a “buy” rating to an “underperform” rating and cut their price target for the company from $65.00 to $58.00 in a report on Friday, October 14th. Oppenheimer increased their price target on shares of Nasdaq from $65.00 to $71.00 in a report on Wednesday, November 9th. Citigroup started coverage on shares of Nasdaq in a research report on Tuesday, October 11th. They set a “neutral” rating and a $62.00 price objective on the stock. StockNews.com started coverage on shares of Nasdaq in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Rosenblatt Securities increased their price objective on shares of Nasdaq from $80.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday, October 20th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Nasdaq currently has a consensus rating of “Hold” and a consensus target price of $66.79.

Insider Activity

In other news, EVP Jeremy Skule sold 2,100 shares of the firm’s stock in a transaction on Friday, October 21st. The shares were sold at an average price of $56.86, for a total transaction of $119,406.00. Following the sale, the executive vice president now directly owns 56,481 shares in the company, valued at approximately $3,211,509.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Jeremy Skule sold 2,100 shares of the firm’s stock in a transaction on Friday, October 21st. The shares were sold at an average price of $56.86, for a total transaction of $119,406.00. Following the completion of the transaction, the executive vice president now directly owns 56,481 shares of the company’s stock, valued at $3,211,509.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Bradley J. Peterson sold 13,596 shares of the firm’s stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $65.00, for a total transaction of $883,740.00. Following the transaction, the executive vice president now directly owns 122,169 shares of the company’s stock, valued at $7,940,985. The disclosure for this sale can be found here. Insiders have sold 19,896 shares of company stock worth $1,267,515 in the last three months. Company insiders own 0.68% of the company’s stock.

Nasdaq Stock Up 2.3 %

NDAQ opened at $61.65 on Monday. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.78. Nasdaq, Inc. has a 1-year low of $46.77 and a 1-year high of $69.22. The company has a market capitalization of $30.29 billion, a PE ratio of 27.00, a PEG ratio of 4.70 and a beta of 0.96. The firm’s 50 day simple moving average is $63.81 and its two-hundred day simple moving average is $59.99.

Nasdaq (NASDAQ:NDAQGet Rating) last announced its quarterly earnings data on Wednesday, October 19th. The financial services provider reported $0.68 EPS for the quarter, beating the consensus estimate of $0.65 by $0.03. The firm had revenue of $890.00 million for the quarter, compared to the consensus estimate of $884.15 million. Nasdaq had a net margin of 18.72% and a return on equity of 22.08%. The company’s revenue was up 6.2% on a year-over-year basis. During the same period last year, the firm earned $0.59 EPS. As a group, equities analysts forecast that Nasdaq, Inc. will post 2.68 EPS for the current year.

Nasdaq Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 16th. Stockholders of record on Friday, December 2nd were given a dividend of $0.20 per share. The ex-dividend date was Thursday, December 1st. This represents a $0.80 annualized dividend and a dividend yield of 1.30%. Nasdaq’s payout ratio is 35.04%.

Nasdaq Company Profile

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Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. The Market Technology segment includes anti financial crime technology business, which offers Nasdaq Trade Surveillance, a SaaS solution for brokers and other market participants to assist them in complying with market rules, regulations, and internal market surveillance policies; Nasdaq Automated Investigator, a cloud-deployed anti-money laundering tool; and Verafin, a SaaS technology provider of anti-financial crime management solutions.

Further Reading

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Institutional Ownership by Quarter for Nasdaq (NASDAQ:NDAQ)

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