Pioneer Investment Management Inc. Has $72.64 Million Stake in Nasdaq, Inc. (NASDAQ:NDAQ)
Pioneer Investment Management Inc. lowered its position in Nasdaq, Inc. (NASDAQ:NDAQ) by 12.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,016,039 shares of the financial services provider’s stock after selling 141,701 shares during the period. Pioneer Investment Management Inc.’s holdings in Nasdaq were worth $72,636,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC raised its stake in Nasdaq by 0.4% in the first quarter. Janney Montgomery Scott LLC now owns 3,603 shares of the financial services provider’s stock worth $250,000 after buying an additional 15 shares in the last quarter. Palo Capital Inc. raised its stake in Nasdaq by 0.4% in the second quarter. Palo Capital Inc. now owns 10,759 shares of the financial services provider’s stock worth $769,000 after buying an additional 45 shares in the last quarter. CIBC Asset Management Inc raised its stake in Nasdaq by 0.4% in the second quarter. CIBC Asset Management Inc now owns 12,260 shares of the financial services provider’s stock worth $876,000 after buying an additional 50 shares in the last quarter. Pacer Advisors Inc. raised its stake in Nasdaq by 3.4% in the first quarter. Pacer Advisors Inc. now owns 2,365 shares of the financial services provider’s stock worth $164,000 after buying an additional 77 shares in the last quarter. Finally, Profund Advisors LLC raised its stake in Nasdaq by 2.5% in the first quarter. Profund Advisors LLC now owns 3,775 shares of the financial services provider’s stock worth $262,000 after buying an additional 91 shares in the last quarter. 75.59% of the stock is owned by hedge funds and other institutional investors.
Nasdaq, Inc. (NDAQ) opened at 75.25 on Wednesday. The firm has a market cap of $12.45 billion, a price-to-earnings ratio of 57.62 and a beta of 0.76. The stock has a 50 day moving average of $71.74 and a 200 day moving average of $69.89. Nasdaq, Inc. has a one year low of $63.30 and a one year high of $75.39.
Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.06. The firm had revenue of $602 million during the quarter, compared to analysts’ expectations of $596.55 million. Nasdaq had a net margin of 5.76% and a return on equity of 12.19%. The business’s revenue was up 7.7% on a year-over-year basis. During the same period last year, the company earned $0.91 earnings per share. Equities research analysts predict that Nasdaq, Inc. will post $4.18 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Thursday, September 14th. Nasdaq’s dividend payout ratio is currently 118.75%.
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A number of analysts have commented on the stock. UBS AG reaffirmed a “buy” rating and set a $81.00 target price (down previously from $85.00) on shares of Nasdaq in a report on Friday, April 28th. BidaskClub lowered shares of Nasdaq from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Citigroup Inc. assumed coverage on shares of Nasdaq in a report on Wednesday, July 12th. They set a “neutral” rating and a $72.00 target price for the company. Zacks Investment Research raised shares of Nasdaq from a “sell” rating to a “hold” rating in a report on Monday, July 17th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $77.00 target price (down previously from $79.00) on shares of Nasdaq in a report on Monday, May 15th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $75.22.
In other news, insider Edward S. Knight sold 15,000 shares of Nasdaq stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $74.39, for a total transaction of $1,115,850.00. Following the completion of the transaction, the insider now directly owns 78,063 shares in the company, valued at $5,807,106.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is owned by company insiders.
Nasdaq, Inc (Nasdaq) is a holding company. The Company is a provider of trading, clearing, exchange technology, regulatory, securities listing, information and public company services. It manages, operates and provides its products and services through four segments: Market Services, Corporate Services, Information Services and Market Technology.
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