Parnassus Investments LLC Decreases Stock Position in Cboe Global Markets, Inc. (BATS:CBOE)

Parnassus Investments LLC decreased its holdings in Cboe Global Markets, Inc. (BATS:CBOE) by 8.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 562,769 shares of the company’s stock after selling 53,550 shares during the period. Parnassus Investments LLC’s holdings in Cboe Global Markets were worth $115,294,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. ORG Partners LLC bought a new stake in shares of Cboe Global Markets in the second quarter worth approximately $30,000. Friedenthal Financial bought a new position in shares of Cboe Global Markets during the 3rd quarter valued at $49,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Cboe Global Markets in the 2nd quarter worth $51,000. GPS Wealth Strategies Group LLC grew its holdings in shares of Cboe Global Markets by 59.1% in the second quarter. GPS Wealth Strategies Group LLC now owns 331 shares of the company’s stock worth $56,000 after acquiring an additional 123 shares during the period. Finally, Intact Investment Management Inc. purchased a new stake in Cboe Global Markets during the third quarter valued at $74,000. Hedge funds and other institutional investors own 81.73% of the company’s stock.

Cboe Global Markets Price Performance

Shares of Cboe Global Markets stock opened at $205.70 on Tuesday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.60. Cboe Global Markets, Inc. has a 12 month low of $103.82 and a 12 month high of $139.00. The stock has a 50 day moving average of $207.93 and a 200 day moving average of $193.31. The firm has a market cap of $21.82 billion, a PE ratio of 106.03 and a beta of 0.61.

Cboe Global Markets (BATS:CBOE) last posted its earnings results on Friday, November 1st. The company reported $2.22 EPS for the quarter, beating analysts’ consensus estimates of $2.19 by $0.03. Cboe Global Markets had a return on equity of 20.05% and a net margin of 5.77%. The firm had revenue of $532.00 million during the quarter, compared to the consensus estimate of $530.46 million. During the same period in the prior year, the company earned $2.06 EPS. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. On average, research analysts expect that Cboe Global Markets, Inc. will post 6.41 EPS for the current fiscal year.

Cboe Global Markets declared that its Board of Directors has approved a stock buyback plan on Friday, August 16th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 2.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Cboe Global Markets Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a $0.63 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $2.52 annualized dividend and a yield of 1.23%. Cboe Global Markets’s dividend payout ratio is currently 98.97%.

Insiders Place Their Bets

In other news, CFO Jill Griebenow sold 1,622 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $213.33, for a total value of $346,021.26. Following the sale, the chief financial officer now owns 8,844 shares of the company’s stock, valued at approximately $1,886,690.52. This represents a 15.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Christopher A. Isaacson sold 6,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $204.89, for a total transaction of $1,229,340.00. Following the transaction, the chief operating officer now owns 39,855 shares in the company, valued at $8,165,890.95. The trade was a 13.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,696 shares of company stock valued at $1,591,160 over the last ninety days. 0.51% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CBOE. Morgan Stanley lowered shares of Cboe Global Markets from an “equal weight” rating to an “underweight” rating and set a $199.00 target price for the company. in a research report on Wednesday, November 6th. TD Cowen began coverage on Cboe Global Markets in a research note on Thursday, September 26th. They issued a “hold” rating and a $205.00 price objective for the company. Piper Sandler raised their target price on Cboe Global Markets from $210.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft upgraded Cboe Global Markets from a “hold” rating to a “buy” rating and upped their price target for the stock from $212.00 to $222.00 in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. raised Cboe Global Markets from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $168.00 to $195.00 in a research report on Monday, August 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Cboe Global Markets currently has a consensus rating of “Hold” and a consensus price target of $209.42.

Cboe Global Markets Company Profile

Cboe Global Markets, Inc, through its subsidiaries, operates as an options exchange worldwide. It operates through six segments: Options, North American Equities, Europe and Asia Pacific, Futures, Global FX, and Digital. The Options segment trades in listed market indices. The North American Equities segment trades in listed U.S.