649,427 Shares in Nasdaq, Inc. $NDAQ Acquired by Bain Capital Public Equity Management II LLC

Bain Capital Public Equity Management II LLC acquired a new stake in Nasdaq, Inc. (NASDAQ:NDAQ) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 649,427 shares of the financial services provider’s stock, valued at approximately $58,072,000. Nasdaq comprises about 2.8% of Bain Capital Public Equity Management II LLC’s investment portfolio, making the stock its 14th largest holding.

A number of other hedge funds and other institutional investors have also modified their holdings of NDAQ. Citigroup Inc. increased its holdings in Nasdaq by 117.5% in the first quarter. Citigroup Inc. now owns 467,668 shares of the financial services provider’s stock valued at $35,477,000 after buying an additional 252,634 shares during the last quarter. National Bank of Canada FI increased its holdings in shares of Nasdaq by 42.8% in the 1st quarter. National Bank of Canada FI now owns 321,282 shares of the financial services provider’s stock valued at $24,372,000 after acquiring an additional 96,247 shares during the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of Nasdaq in the 1st quarter valued at about $45,000. Townsquare Capital LLC raised its position in shares of Nasdaq by 10.7% during the 1st quarter. Townsquare Capital LLC now owns 12,224 shares of the financial services provider’s stock worth $927,000 after acquiring an additional 1,186 shares in the last quarter. Finally, Cynosure Group LLC lifted its stake in Nasdaq by 11.8% during the first quarter. Cynosure Group LLC now owns 4,339 shares of the financial services provider’s stock worth $329,000 after purchasing an additional 458 shares during the last quarter. 72.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Morgan Stanley raised shares of Nasdaq from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $97.00 to $110.00 in a report on Thursday, November 20th. TD Cowen increased their target price on shares of Nasdaq from $94.00 to $96.00 and gave the company a “hold” rating in a research report on Wednesday, October 22nd. Weiss Ratings reissued a “buy (b-)” rating on shares of Nasdaq in a research report on Tuesday, October 14th. Raymond James Financial restated an “outperform” rating and issued a $100.00 price objective (up previously from $99.00) on shares of Nasdaq in a research note on Monday, October 13th. Finally, Cowen reaffirmed a “hold” rating on shares of Nasdaq in a report on Wednesday, October 22nd. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Nasdaq presently has a consensus rating of “Moderate Buy” and an average target price of $101.00.

Nasdaq Price Performance

Shares of NDAQ opened at $89.80 on Tuesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.99 and a current ratio of 0.99. Nasdaq, Inc. has a fifty-two week low of $64.84 and a fifty-two week high of $97.63. The firm has a 50-day simple moving average of $88.13 and a 200-day simple moving average of $89.72. The company has a market capitalization of $51.27 billion, a price-to-earnings ratio of 32.07, a price-to-earnings-growth ratio of 1.64 and a beta of 1.02.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings results on Tuesday, October 21st. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.06. Nasdaq had a return on equity of 16.28% and a net margin of 19.90%.The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the previous year, the firm posted $0.74 EPS. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. On average, equities research analysts anticipate that Nasdaq, Inc. will post 3.18 earnings per share for the current year.

Nasdaq Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $1.08 annualized dividend and a dividend yield of 1.2%. Nasdaq’s dividend payout ratio (DPR) is currently 38.57%.

Insiders Place Their Bets

In related news, EVP Jeremy Skule sold 2,105 shares of Nasdaq stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $85.40, for a total value of $179,767.00. Following the transaction, the executive vice president directly owned 84,974 shares in the company, valued at $7,256,779.60. This trade represents a 2.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.70% of the stock is currently owned by company insiders.

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.