Harmony Asset Management LLC Invests $203,000 in Nasdaq, Inc. (NASDAQ:NDAQ)

Harmony Asset Management LLC acquired a new position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,782 shares of the financial services provider’s stock, valued at approximately $203,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NDAQ. Mizuho Securities USA LLC lifted its holdings 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 worth $292,040,000 after acquiring an additional 3,970,658 shares during the period. Harris Associates L P lifted its holdings in shares of Nasdaq by 14.6% during the 3rd quarter. Harris Associates L P now owns 8,596,022 shares of the financial services provider’s stock worth $627,596,000 after acquiring an additional 1,096,090 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Nasdaq by 67.6% during the 2nd quarter. Principal Financial Group Inc. now owns 2,022,546 shares of the financial services provider’s stock worth $121,879,000 after acquiring an additional 815,946 shares during the period. National Bank of Canada FI lifted its holdings in shares of Nasdaq by 435.6% during the 2nd quarter. National Bank of Canada FI now owns 645,359 shares of the financial services provider’s stock worth $38,386,000 after acquiring an additional 524,874 shares during the period. Finally, Shapiro Capital Management LLC lifted its holdings in shares of Nasdaq by 34.4% during the 2nd quarter. Shapiro Capital Management LLC now owns 1,887,199 shares of the financial services provider’s stock worth $113,723,000 after acquiring an additional 483,361 shares during the period. 72.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NDAQ. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Nasdaq from $78.00 to $80.00 and gave the company a “hold” rating in a report on Monday, November 11th. Bank of America cut 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. Royal Bank of Canada reissued an “outperform” rating and set a $88.00 price target on shares of Nasdaq in a report on Tuesday, November 19th. Barclays lifted their price target on shares of Nasdaq from $84.00 to $87.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Finally, TD Cowen cut their price target on shares of Nasdaq from $81.00 to $80.00 and set a “hold” rating for the company in a report on Monday, October 28th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Nasdaq currently has an average rating of “Moderate Buy” and an average price target of $80.87.

Nasdaq Price Performance

Nasdaq stock opened at $80.99 on Wednesday. The business’s 50-day simple moving average is $76.17 and its 200 day simple moving average is $69.06. The stock has a market cap of $46.55 billion, a price-to-earnings ratio of 48.50, a P/E/G ratio of 3.18 and a beta of 0.97. Nasdaq, Inc. has a 12-month low of $53.62 and a 12-month high of $83.77. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.84.

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

Nasdaq Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend is Friday, December 6th. Nasdaq’s payout ratio is 57.49%.

Insider Buying and Selling at Nasdaq

In other Nasdaq news, EVP Bradley J. Peterson sold 13,642 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $75.32, for a total value of $1,027,515.44. Following the transaction, the executive vice president now owns 142,830 shares of the company’s stock, valued at approximately $10,757,955.60. This represents a 8.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Jeremy Skule sold 12,075 shares of the 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 transaction, the executive vice president now directly owns 102,505 shares in the company, valued at $8,072,268.75. The trade was a 10.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 49,459 shares of company stock valued at $3,811,808. 0.70% of the stock is currently owned by company insiders.

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.