Cibc World Market Inc. Raises Stake in Nasdaq, Inc. $NDAQ

Cibc World Market Inc. boosted its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 162.1% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 25,447 shares of the financial services provider’s stock after purchasing an additional 15,739 shares during the period. Cibc World Market Inc.’s holdings in Nasdaq were worth $2,251,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Paradigm Asset Management Co. LLC purchased a new position in Nasdaq during the 2nd quarter valued at about $1,511,000. Mirae Asset Global Investments Co. Ltd. grew its stake in Nasdaq by 41.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 77,090 shares of the financial services provider’s stock valued at $6,819,000 after acquiring an additional 22,685 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Nasdaq by 9.9% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 800,654 shares of the financial services provider’s stock valued at $71,594,000 after acquiring an additional 72,032 shares in the last quarter. Swedbank AB increased its holdings in Nasdaq by 74.4% during the 3rd quarter. Swedbank AB now owns 82,068 shares of the financial services provider’s stock worth $7,259,000 after acquiring an additional 35,015 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in Nasdaq by 1.6% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,136,293 shares of the financial services provider’s stock worth $101,607,000 after purchasing an additional 17,369 shares in the last quarter. Institutional investors own 72.47% of the company’s stock.

Analyst Ratings Changes

NDAQ has been the subject of a number of recent analyst reports. Argus upgraded shares of Nasdaq to a “strong-buy” rating in a research report on Wednesday, February 11th. UBS Group restated a “buy” rating and issued a $120.00 target price (up from $115.00) on shares of Nasdaq in a research note on Monday, January 12th. TD Cowen raised their price target on Nasdaq from $104.00 to $105.00 and gave the company a “hold” rating in a report on Friday, January 30th. JPMorgan Chase & Co. boosted their price objective on Nasdaq from $100.00 to $101.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $108.00 price objective on shares of Nasdaq in a research report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $103.13.

Nasdaq Stock Performance

Shares of NASDAQ NDAQ opened at $79.47 on Tuesday. The stock’s 50-day moving average is $94.65 and its 200 day moving average is $92.05. The stock has a market cap of $45.17 billion, a price-to-earnings ratio of 25.72, a P/E/G ratio of 1.31 and a beta of 1.02. Nasdaq, Inc. has a 1-year low of $64.84 and a 1-year high of $101.79. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.70.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings data on Thursday, January 29th. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. Nasdaq had a net margin of 21.77% and a return on equity of 16.90%. The company had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter in the prior year, the company earned $0.76 EPS. The firm’s revenue was up 13.4% on a year-over-year basis. On average, sell-side analysts anticipate that Nasdaq, Inc. will post 3.18 EPS for the current fiscal year.

Nasdaq Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Monday, March 16th. Nasdaq’s payout ratio is 34.95%.

Insider Activity at Nasdaq

In related news, CEO Adena T. Friedman sold 300,000 shares of Nasdaq stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $96.39, for a total value of $28,917,000.00. Following the transaction, the chief executive officer directly owned 1,924,903 shares of the company’s stock, valued at $185,541,400.17. The trade was a 13.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP John Zecca sold 4,500 shares of the company’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $100.01, for a total transaction of $450,045.00. Following the sale, the executive vice president owned 125,674 shares of the company’s stock, valued at $12,568,656.74. This represents a 3.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 604,500 shares of company stock worth $58,440,045. 0.70% of the stock is owned by corporate insiders.

Nasdaq Company 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.