NorthCrest Asset Manangement LLC Decreases Holdings in Nasdaq, Inc. (NASDAQ:NDAQ)

NorthCrest Asset Manangement LLC reduced its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 0.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 502,070 shares of the financial services provider’s stock after selling 265 shares during the period. Nasdaq makes up about 1.1% of NorthCrest Asset Manangement LLC’s investment portfolio, making the stock its 15th biggest holding. NorthCrest Asset Manangement LLC owned approximately 0.09% of Nasdaq worth $36,656,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. Y.D. More Investments Ltd boosted its stake in shares of Nasdaq by 94.8% in the second quarter. Y.D. More Investments Ltd now owns 415 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 202 shares during the period. Catalyst Capital Advisors LLC purchased a new position in Nasdaq in the 3rd quarter valued at about $27,000. Claro Advisors LLC acquired a new stake in shares of Nasdaq during the third quarter valued at about $33,000. Focused Wealth Management Inc purchased a new stake in shares of Nasdaq during the third quarter worth about $35,000. Finally, Peterson Financial Group Inc. purchased a new stake in shares of Nasdaq during the third quarter worth about $42,000. 72.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Nasdaq news, EVP Bradley J. Peterson sold 13,642 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $75.32, for a total transaction of $1,027,515.44. Following the completion of the transaction, the executive vice president now directly owns 142,830 shares of the company’s stock, valued at approximately $10,757,955.60. This trade represents a 8.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jeremy Skule sold 12,075 shares of Nasdaq stock in a transaction on Monday, November 18th. The shares were sold at an average price of $78.75, for a total value of $950,906.25. Following the transaction, the executive vice president now owns 102,505 shares in the company, valued at approximately $8,072,268.75. This trade represents a 10.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 49,459 shares of company stock valued at $3,811,808. Company insiders own 0.70% of the company’s stock.

Nasdaq Stock Performance

NASDAQ:NDAQ traded down $2.22 during mid-day trading on Friday, hitting $75.80. The stock had a trading volume of 860,681 shares, compared to its average volume of 2,610,699. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.84. The company has a 50 day simple moving average of $79.23 and a 200-day simple moving average of $72.60. The stock has a market capitalization of $43.57 billion, a price-to-earnings ratio of 45.39, a P/E/G ratio of 3.12 and a beta of 0.98. Nasdaq, Inc. has a 52 week low of $54.90 and a 52 week high of $83.77.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.05. Nasdaq had a return on equity of 14.56% and a net margin of 13.67%. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the previous year, the firm posted $0.71 earnings per share. The business’s revenue was up 21.9% on a year-over-year basis. On average, research analysts expect that Nasdaq, Inc. will post 2.79 earnings per share for the current fiscal year.

Nasdaq Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a $0.24 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.96 annualized dividend and a dividend yield of 1.27%. Nasdaq’s payout ratio is 57.49%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NDAQ. TD Cowen lowered their price objective on Nasdaq from $81.00 to $80.00 and set a “hold” rating for the company in a research note on Monday, October 28th. Bank of America dropped their price target on shares of Nasdaq from $90.00 to $88.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $95.00 price objective on shares of Nasdaq in a research note on Thursday. Barclays boosted their target price on shares of Nasdaq from $87.00 to $97.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Finally, Piper Sandler lifted their price target on Nasdaq from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.20.

Nasdaq 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.