Ethic Inc. Boosts Holdings in Nasdaq, Inc. $NDAQ

Ethic Inc. lifted its holdings in Nasdaq, Inc. (NASDAQ:NDAQ) by 8.4% in the third quarter, HoldingsChannel reports. The firm owned 105,835 shares of the financial services provider’s stock after buying an additional 8,183 shares during the quarter. Ethic Inc.’s holdings in Nasdaq were worth $9,361,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Bruce G. Allen Investments LLC boosted its position in Nasdaq by 72.7% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 285 shares of the financial services provider’s stock valued at $25,000 after buying an additional 120 shares during the period. Front Row Advisors LLC acquired a new stake in shares of Nasdaq in the second quarter valued at $25,000. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Nasdaq in the second quarter valued at $27,000. Access Investment Management LLC purchased a new position in Nasdaq in the second quarter valued at $28,000. Finally, CVA Family Office LLC grew its stake in Nasdaq by 137.4% during the 2nd quarter. CVA Family Office LLC now owns 368 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 213 shares in the last quarter. 72.47% of the stock is currently owned by institutional investors and hedge funds.

Nasdaq Trading Down 0.5%

Shares of Nasdaq stock opened at $98.87 on Tuesday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.72. The company has a fifty day simple moving average of $90.12 and a 200-day simple moving average of $90.90. The stock has a market cap of $56.45 billion, a price-to-earnings ratio of 35.31, a PEG ratio of 1.78 and a beta of 1.02. Nasdaq, Inc. has a 12-month low of $64.84 and a 12-month high of $99.54.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings results on Tuesday, October 21st. The financial services provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.82 by $0.06. Nasdaq had a net margin of 19.90% and a return on equity of 16.28%. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same period last year, the business earned $0.74 EPS. Nasdaq’s revenue for the quarter was up 14.7% compared to the same quarter last year. On average, equities analysts forecast that Nasdaq, Inc. will post 3.18 EPS for the current fiscal year.

Nasdaq Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, December 5th. Nasdaq’s payout ratio is presently 38.57%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. TD Cowen upped their price target on Nasdaq from $94.00 to $96.00 and gave the stock a “hold” rating in a report on Wednesday, October 22nd. Cowen restated a “hold” rating on shares of Nasdaq in a research note on Wednesday, October 22nd. Raymond James Financial reiterated an “outperform” rating and issued a $100.00 price target (up previously from $99.00) on shares of Nasdaq in a research note on Monday, October 13th. Morgan Stanley reissued an “overweight” rating and issued a $111.00 price objective (up from $110.00) on shares of Nasdaq in a research report on Monday, December 22nd. Finally, Barclays restated an “overweight” rating and issued a $114.00 price objective (up from $109.00) on shares of Nasdaq in a report on Friday, December 12th. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $101.40.

Insider Activity

In related news, EVP Jeremy Skule sold 2,105 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $85.40, for a total transaction of $179,767.00. Following the transaction, the executive vice president 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 through the SEC website. 0.70% of the stock is currently owned by company insiders.

Nasdaq Profile

Nasdaq, Inc is a global financial technology company that operates one of the world’s leading electronic securities exchanges and provides a broad array of products and services to capital markets participants. Its core activities include operating the Nasdaq Stock Market and other trading venues, developing and supplying market technology and matching engines to exchanges and trading firms, licensing market data and indices, and offering clearing, trade execution and post-trade solutions. The company also provides market surveillance, risk management and regulatory technology used by exchanges and regulators.

Founded in 1971 by the National Association of Securities Dealers (NASD) as the first electronic stock market, Nasdaq has evolved into a diversified marketplace and technology provider.