Intech Investment Management LLC Cuts Stock Holdings in Nasdaq, Inc. (NASDAQ:NDAQ)

Intech Investment Management LLC lowered its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 13.1% during the 3rd quarter, Holdings Channel reports. The firm owned 54,063 shares of the financial services provider’s stock after selling 8,115 shares during the quarter. Intech Investment Management LLC’s holdings in Nasdaq were worth $3,947,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Farallon Capital Management LLC boosted its stake in Nasdaq by 28.4% during the first quarter. Farallon Capital Management LLC now owns 8,436,719 shares of the financial services provider’s stock valued at $532,357,000 after buying an additional 1,866,219 shares during the last quarter. Diamond Hill Capital Management Inc. raised its holdings in shares of Nasdaq by 2.0% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 4,767,175 shares of the financial services provider’s stock worth $287,270,000 after acquiring an additional 94,122 shares in the last quarter. Mizuho Securities USA LLC boosted its position in shares of Nasdaq by 13,532.3% during the 3rd quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the financial services provider’s stock valued at $292,040,000 after acquiring an additional 3,970,658 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Nasdaq by 3.5% in the second quarter. Bank of New York Mellon Corp now owns 2,443,939 shares of the financial services provider’s stock valued at $147,272,000 after purchasing an additional 82,606 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Nasdaq by 8.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,358,843 shares of the financial services provider’s stock worth $142,144,000 after purchasing an additional 174,778 shares during the last quarter. Institutional investors own 72.47% of the company’s stock.

Insider Transactions at Nasdaq

In other news, EVP Jeremy Skule sold 12,075 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $78.75, for a total value of $950,906.25. Following the completion of the sale, the executive vice president now owns 102,505 shares in the company, valued at approximately $8,072,268.75. The trade was a 10.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Pc Nelson Griggs sold 6,000 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $75.71, for a total transaction of $454,260.00. Following the transaction, the insider now owns 215,563 shares in the company, valued at approximately $16,320,274.73. This represents a 2.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,459 shares of company stock valued at $3,811,808. 0.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on NDAQ shares. Raymond James upgraded shares of Nasdaq from a “market perform” rating to an “outperform” rating and set a $82.00 price objective for the company in a research report on Monday, October 14th. Bank of America lowered their price target on shares of Nasdaq from $90.00 to $88.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. UBS Group boosted their price objective on Nasdaq from $73.00 to $79.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft raised their price objective on Nasdaq from $78.00 to $80.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Finally, Barclays boosted their target price on Nasdaq from $84.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $80.87.

Nasdaq Trading Up 0.2 %

NASDAQ NDAQ opened at $81.07 on Friday. Nasdaq, Inc. has a 12 month low of $53.62 and a 12 month high of $81.35. The company’s 50-day moving average price is $75.11 and its 200-day moving average price is $68.04. The stock has a market cap of $46.60 billion, a PE ratio of 48.54, a PEG ratio of 3.12 and a beta of 0.95. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.84.

Nasdaq (NASDAQ:NDAQ) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.17 billion. Nasdaq had a net margin of 13.67% and a return on equity of 14.56%. The company’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same period last year, the company posted $0.71 earnings per share. Equities research analysts forecast that Nasdaq, Inc. will post 2.79 earnings per share for the current year.

Nasdaq Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Friday, December 6th. Nasdaq’s dividend payout ratio is 57.49%.

Nasdaq Company Profile

Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. It operates in three segments: Capital Access Platforms, Financial Technology, and Market Services. The Capital Access Platforms segment sells and distributes historical and real-time market data; and develops and licenses Nasdaq-branded indices and financial products.