Clark Capital Management Group Inc. Invests $1.23 Million in Nasdaq, Inc. $NDAQ

Clark Capital Management Group Inc. acquired a new stake in Nasdaq, Inc. (NASDAQ:NDAQ) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 13,908 shares of the financial services provider’s stock, valued at approximately $1,230,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Banco Bilbao Vizcaya Argentaria S.A. grew its stake in shares of Nasdaq by 7.3% in the third quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 25,190 shares of the financial services provider’s stock valued at $2,227,000 after buying an additional 1,711 shares in the last quarter. Chilton Investment Co. Inc. bought a new stake in Nasdaq during the third quarter worth $468,000. Bank of Nova Scotia raised its position in Nasdaq by 35.6% during the third quarter. Bank of Nova Scotia now owns 381,573 shares of the financial services provider’s stock worth $33,750,000 after acquiring an additional 100,276 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Nasdaq by 4.7% in the third quarter. Alliancebernstein L.P. now owns 463,567 shares of the financial services provider’s stock valued at $41,003,000 after acquiring an additional 20,701 shares during the last quarter. Finally, Creative Planning grew its position in shares of Nasdaq by 27.4% in the 3rd quarter. Creative Planning now owns 93,117 shares of the financial services provider’s stock valued at $8,236,000 after acquiring an additional 20,021 shares during the period. 72.47% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP John Zecca sold 4,500 shares of Nasdaq stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $100.01, for a total transaction of $450,045.00. Following the completion of the sale, the executive vice president directly owned 125,674 shares of the company’s stock, valued at approximately $12,568,656.74. This trade represents a 3.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Adena T. Friedman sold 92,840 shares of the business’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $90.08, for a total value of $8,363,027.20. Following the completion of the sale, the chief executive officer owned 2,079,323 shares of the company’s stock, valued at $187,305,415.84. This trade represents a 4.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 697,340 shares of company stock valued at $66,803,072. Corporate insiders own 0.70% of the company’s stock.

Nasdaq Price Performance

Shares of NDAQ opened at $85.85 on Tuesday. The company’s 50-day moving average is $90.38 and its 200-day moving average is $90.62. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $48.80 billion, a PE ratio of 27.78, a PEG ratio of 1.57 and a beta of 1.04. Nasdaq, Inc. has a fifty-two week low of $64.84 and a fifty-two week high of $101.79.

Nasdaq (NASDAQ:NDAQ) last announced its earnings results on Thursday, January 29th. The financial services provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.92 by $0.04. Nasdaq had a net margin of 21.77% and a return on equity of 16.90%. The business had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the previous year, the firm posted $0.76 EPS. Nasdaq’s revenue was up 13.4% compared to the same quarter last year. Equities analysts forecast that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Monday, March 16th. Nasdaq’s payout ratio is currently 34.95%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Argus upgraded shares of Nasdaq to a “strong-buy” rating in a research note on Wednesday, February 11th. Morgan Stanley set a $116.00 target price on shares of Nasdaq and gave the company an “overweight” rating in a research note on Friday, January 30th. TD Cowen upgraded Nasdaq from a “hold” rating to a “buy” rating and lifted their price target for the stock from $105.00 to $106.00 in a report on Thursday, February 26th. UBS Group reissued a “buy” rating and set a $120.00 price target (up from $115.00) on shares of Nasdaq in a research report on Monday, January 12th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $108.00 price objective on shares of Nasdaq in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $103.80.

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.