Commerce Bank Takes $22.51 Million Position in Nasdaq, Inc. $NDAQ

Commerce Bank acquired a new stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 285,608 shares of the financial services provider’s stock, valued at approximately $22,512,000.

Several other large investors also recently bought and sold shares of NDAQ. MV Capital Management Inc. purchased a new position in Nasdaq in the 4th quarter worth about $28,000. Nemes Rush Group LLC purchased a new stake in shares of Nasdaq during the 4th quarter valued at about $35,000. Uniplan Investment Counsel Inc. purchased a new stake in shares of Nasdaq during the 4th quarter valued at about $35,000. Fideuram Asset Management Ireland dac bought a new stake in shares of Nasdaq in the fourth quarter worth approximately $37,000. Finally, Reflection Asset Management bought a new stake in shares of Nasdaq in the fourth quarter worth approximately $41,000. 72.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Zacks Research raised shares of Nasdaq from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Raymond James Financial reissued an “outperform” rating and set a $113.00 price target (up from $111.00) on shares of Nasdaq in a report on Thursday, July 9th. Barclays reaffirmed an “overweight” rating and issued a $111.00 price objective (up from $108.00) on shares of Nasdaq in a report on Friday, July 24th. Keefe, Bruyette & Woods raised their target price on Nasdaq from $92.00 to $102.00 and gave the stock a “market perform” rating in a research report on Friday, July 24th. Finally, Wall Street Zen upgraded shares of Nasdaq from a “sell” rating to a “hold” rating in a research report on Sunday, May 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $110.30.

Insider Activity at Nasdaq

In other Nasdaq news, major shareholder Ab Investor purchased 56,782 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were bought at an average price of $85.98 per share, with a total value of $4,882,116.36. Following the completion of the purchase, the insider directly owned 58,439,208 shares in the company, valued at $5,024,603,103.84. This trade represents a 0.10% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Pc Nelson Griggs sold 11,010 shares of Nasdaq stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $96.35, for a total transaction of $1,060,813.50. Following the completion of the transaction, the insider directly owned 205,001 shares of the company’s stock, valued at $19,751,846.35. The trade was a 5.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 41,797 shares of company stock valued at $3,926,319. 0.60% of the stock is owned by corporate insiders.

Nasdaq Trading Up 0.7%

Nasdaq stock opened at $98.22 on Friday. The stock has a market cap of $54.90 billion, a P/E ratio of 28.64, a PEG ratio of 1.32 and a beta of 0.97. Nasdaq, Inc. has a 1 year low of $76.55 and a 1 year high of $101.79. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.01 and a quick ratio of 1.01. The firm’s 50 day moving average price is $89.85 and its 200-day moving average price is $88.04.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $1.07 EPS for the quarter, beating the consensus estimate of $0.98 by $0.09. Nasdaq had a net margin of 22.60% and a return on equity of 18.38%. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the prior year, the firm earned $0.85 EPS. The business’s revenue was up 14.9% on a year-over-year basis. On average, equities analysts predict that Nasdaq, Inc. will post 4.15 earnings per share for the current fiscal year.

Nasdaq Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, September 11th. Nasdaq’s dividend payout ratio is currently 36.15%.

About Nasdaq

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.