HBK Sorce Advisory LLC Buys New Holdings in Nasdaq, Inc. $NDAQ

HBK Sorce Advisory LLC bought a new stake in Nasdaq, Inc. (NASDAQ:NDAQ) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,734 shares of the financial services provider’s stock, valued at approximately $244,000.

Several other hedge funds and other institutional investors have also modified their holdings of NDAQ. Keybank National Association OH lifted its stake in shares of Nasdaq by 21.3% in the 1st quarter. Keybank National Association OH now owns 13,021 shares of the financial services provider’s stock valued at $988,000 after purchasing an additional 2,290 shares in the last quarter. Teacher Retirement System of Texas lifted its position in Nasdaq by 192.2% during the first quarter. Teacher Retirement System of Texas now owns 177,192 shares of the financial services provider’s stock valued at $13,442,000 after buying an additional 116,545 shares in the last quarter. Conning Inc. acquired a new position in Nasdaq during the first quarter valued at approximately $203,000. OneDigital Investment Advisors LLC lifted its position in Nasdaq by 14.5% during the first quarter. OneDigital Investment Advisors LLC now owns 7,535 shares of the financial services provider’s stock valued at $572,000 after buying an additional 956 shares in the last quarter. Finally, IFM Investors Pty Ltd lifted its position in Nasdaq by 7.9% during the first quarter. IFM Investors Pty Ltd now owns 96,686 shares of the financial services provider’s stock valued at $7,059,000 after buying an additional 7,091 shares in the last quarter. 72.47% of the stock is owned by institutional investors and hedge funds.

Nasdaq Trading Down 0.2%

Shares of NDAQ opened at $85.49 on Friday. The company has a market capitalization of $48.81 billion, a P/E ratio of 30.53, a P/E/G ratio of 1.79 and a beta of 0.98. Nasdaq, Inc. has a one year low of $64.84 and a one year high of $97.63. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a 50-day moving average price of $90.46 and a 200 day moving average price of $87.71.

Nasdaq (NASDAQ:NDAQ) last released its earnings results on Tuesday, October 21st. The financial services provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.82 by $0.06. The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Nasdaq had a return on equity of 16.28% and a net margin of 19.90%.The business’s revenue was up 14.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.74 EPS. Sell-side analysts forecast that Nasdaq, Inc. will post 3.18 EPS for the current fiscal year.

Nasdaq Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Friday, December 5th. Nasdaq’s dividend payout ratio is 38.57%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NDAQ. Keefe, Bruyette & Woods lifted their target price on shares of Nasdaq from $103.00 to $104.00 and gave the company an “outperform” rating in a report on Friday, July 25th. Weiss Ratings restated a “buy (b-)” rating on shares of Nasdaq in a research note on Tuesday, October 14th. Citigroup restated a “neutral” rating on shares of Nasdaq in a research note on Wednesday, July 9th. UBS Group raised Nasdaq from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $95.00 to $115.00 in a research report on Friday, July 25th. Finally, Piper Sandler increased their price objective on shares of Nasdaq from $97.00 to $104.00 and gave the company an “overweight” rating in a research report on Monday, August 4th. Fifteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $98.56.

Nasdaq Company 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.