Commonwealth Equity Services LLC Buys 29,196 Shares of Nasdaq, Inc. (NASDAQ:NDAQ)

Posted by MarketBeat News on Mar 12th, 2023

Commonwealth Equity Services LLC increased its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ – Get Rating) by 180.8% during the third quarter, HoldingsChannel reports. The fund owned 45,347 shares of the financial services provider’s stock after acquiring an additional 29,196 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Nasdaq were worth $2,570,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Massachusetts Financial Services Co. MA increased its position in Nasdaq by 200.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 36,693,056 shares of the financial services provider’s stock worth $2,079,761,000 after acquiring an additional 24,469,561 shares during the period. Vanguard Group Inc. boosted its stake in Nasdaq by 1.0% during the first quarter. Vanguard Group Inc. now owns 12,756,255 shares of the financial services provider’s stock worth $2,273,164,000 after buying an additional 126,348 shares in the last quarter. Artisan Partners Limited Partnership boosted its stake in Nasdaq by 199.2% during the third quarter. Artisan Partners Limited Partnership now owns 6,084,682 shares of the financial services provider’s stock worth $344,880,000 after buying an additional 4,050,818 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its stake in Nasdaq by 152.6% during the third quarter. Diamond Hill Capital Management Inc. now owns 5,150,690 shares of the financial services provider’s stock worth $291,941,000 after buying an additional 3,111,850 shares in the last quarter. Finally, Bessemer Group Inc. boosted its stake in Nasdaq by 225.4% during the third quarter. Bessemer Group Inc. now owns 2,982,382 shares of the financial services provider’s stock worth $169,041,000 after buying an additional 2,065,870 shares in the last quarter. Institutional investors own 73.01% of the company’s stock.

Nasdaq Stock Down 3.2 %

Shares of NASDAQ:NDAQ opened at $52.60 on Friday. Nasdaq, Inc. has a 12 month low of $46.77 and a 12 month high of $69.22. The company’s 50-day moving average price is $59.38 and its two-hundred day moving average price is $60.87. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.77. The firm has a market cap of $25.72 billion, a P/E ratio of 23.34, a P/E/G ratio of 4.42 and a beta of 0.96.

Want More Great Investing Ideas?

Nasdaq (NASDAQ:NDAQ – Get Rating) last issued its quarterly earnings data on Wednesday, January 25th. The financial services provider reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.01). Nasdaq had a return on equity of 22.12% and a net margin of 18.08%. The company had revenue of $906.00 million for the quarter, compared to the consensus estimate of $908.94 million. During the same period in the prior year, the company earned $0.64 EPS. The firm’s revenue was up 2.4% compared to the same quarter last year. As a group, research analysts forecast that Nasdaq, Inc. will post 2.7 EPS for the current fiscal year.

Nasdaq Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, March 17th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Thursday, March 16th. Nasdaq’s dividend payout ratio is currently 35.50%.

Insiders Place Their Bets

In other Nasdaq news, insider Michelle Lynn Daly sold 1,998 shares of the stock in a transaction dated Thursday, February 9th. The shares were sold at an average price of $59.55, for a total transaction of $118,980.90. Following the sale, the insider now owns 8,971 shares of the company’s stock, valued at approximately $534,223.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Nasdaq news, insider Michelle Lynn Daly sold 1,998 shares of the company’s stock in a transaction dated Thursday, February 9th. The shares were sold at an average price of $59.55, for a total transaction of $118,980.90. Following the transaction, the insider now directly owns 8,971 shares in the company, valued at approximately $534,223.05. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Jeremy Skule sold 2,100 shares of the company’s stock in a transaction dated Monday, January 23rd. The shares were sold at an average price of $61.75, for a total transaction of $129,675.00. Following the transaction, the executive vice president now owns 72,567 shares in the company, valued at $4,481,012.25. The disclosure for this sale can be found here. Insiders have sold a total of 14,298 shares of company stock valued at $839,614 in the last 90 days. 0.68% of the stock is currently owned by insiders.

Analysts Set New Price Targets

NDAQ has been the topic of a number of recent research reports. UBS Group downgraded shares of Nasdaq to a “neutral” rating in a research note on Tuesday, November 15th. Rosenblatt Securities decreased their price target on shares of Nasdaq from $84.00 to $82.00 and set a “buy” rating on the stock in a research note on Thursday, January 26th. Morgan Stanley lifted their price target on shares of Nasdaq from $72.00 to $73.00 and gave the stock an “overweight” rating in a research note on Friday, January 20th. Keefe, Bruyette & Woods lowered their target price on shares of Nasdaq from $73.00 to $67.00 and set an “outperform” rating on the stock in a report on Thursday, January 26th. Finally, Piper Sandler lowered their target price on shares of Nasdaq from $73.33 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, January 26th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Nasdaq has an average rating of “Hold” and an average price target of $64.74.

About Nasdaq

(Get Rating)

Nasdaq, Inc is a holding company, which engages in trading, clearing, exchange technology, regulatory, securities listing, information, and public and private company services. It operates through the following segments: Market Technology, Investment Intelligence, Corporate Platforms, and Market Services.