Artisan Partners Limited Partnership trimmed its holdings in Nasdaq, Inc. (NASDAQ:NDAQ – Free Report) by 91.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 299,268 shares of the financial services provider’s stock after selling 3,267,451 shares during the quarter. Artisan Partners Limited Partnership owned approximately 0.06% of Nasdaq worth $14,919,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cresset Asset Management LLC boosted its position in shares of Nasdaq by 4.5% during the 1st quarter. Cresset Asset Management LLC now owns 1,717 shares of the financial services provider’s stock valued at $306,000 after acquiring an additional 74 shares during the last quarter. Horizon Investments LLC boosted its position in shares of Nasdaq by 8.3% during the 1st quarter. Horizon Investments LLC now owns 1,120 shares of the financial services provider’s stock valued at $200,000 after acquiring an additional 86 shares during the last quarter. Brinker Capital Investments LLC boosted its position in shares of Nasdaq by 0.4% during the 1st quarter. Brinker Capital Investments LLC now owns 29,446 shares of the financial services provider’s stock valued at $5,247,000 after acquiring an additional 106 shares during the last quarter. Advisors Asset Management Inc. boosted its position in shares of Nasdaq by 1.7% during the 1st quarter. Advisors Asset Management Inc. now owns 7,142 shares of the financial services provider’s stock valued at $1,273,000 after acquiring an additional 120 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of Nasdaq by 10.6% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,360 shares of the financial services provider’s stock valued at $207,000 after acquiring an additional 130 shares during the last quarter. 72.47% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
NDAQ has been the subject of a number of research reports. StockNews.com downgraded Nasdaq from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. Oppenheimer restated an “outperform” rating and set a $65.00 price target on shares of Nasdaq in a report on Thursday, October 19th. JPMorgan Chase & Co. increased their price target on Nasdaq from $62.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday, October 19th. Rosenblatt Securities restated a “buy” rating and set a $82.00 price target on shares of Nasdaq in a report on Thursday, October 19th. Finally, Bank of America decreased their price target on Nasdaq from $50.00 to $49.00 in a report on Tuesday, October 3rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Nasdaq has an average rating of “Hold” and an average target price of $61.09.
Nasdaq Stock Performance
NDAQ stock opened at $53.48 on Friday. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 1.50. The business’s fifty day simple moving average is $50.20 and its two-hundred day simple moving average is $51.46. Nasdaq, Inc. has a twelve month low of $46.88 and a twelve month high of $69.22. The firm has a market cap of $30.86 billion, a price-to-earnings ratio of 23.98, a PEG ratio of 5.57 and a beta of 0.94.
Nasdaq (NASDAQ:NDAQ – Get Free Report) last released its earnings results on Wednesday, October 18th. The financial services provider reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The business had revenue of $940.00 million for the quarter, compared to analyst estimates of $931.14 million. Nasdaq had a return on equity of 21.62% and a net margin of 18.40%. The business’s revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.68 earnings per share. Analysts predict that Nasdaq, Inc. will post 2.78 earnings per share for the current year.
Nasdaq Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, December 22nd. Stockholders of record on Friday, December 8th will be paid a dividend of $0.22 per share. The ex-dividend date is Thursday, December 7th. This represents a $0.88 annualized dividend and a dividend yield of 1.65%. Nasdaq’s dividend payout ratio is currently 39.46%.
In other news, Director Johan Torgeby purchased 14,000 shares of the business’s stock in a transaction dated Monday, October 23rd. The shares were purchased at an average price of $50.42 per share, for a total transaction of $705,880.00. Following the completion of the purchase, the director now owns 22,466 shares in the company, valued at approximately $1,132,735.72. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.75% of the company’s stock.
Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. It operates in three segments: Market Platforms, Capital Access Platforms, and Anti-Financial Crime. The Market Platforms segment trading services, including equity derivative trading and clearing, cash equity trading, fixed income and commodities trading and clearing, and trade management service businesses.
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