NorthCrest Asset Manangement LLC Increases Stock Position in Nasdaq, Inc. $NDAQ

NorthCrest Asset Manangement LLC increased its holdings in Nasdaq, Inc. (NASDAQ:NDAQ) by 1.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 442,143 shares of the financial services provider’s stock after buying an additional 7,787 shares during the period. Nasdaq accounts for 0.9% of NorthCrest Asset Manangement LLC’s investment portfolio, making the stock its 18th biggest position. NorthCrest Asset Manangement LLC owned approximately 0.08% of Nasdaq worth $39,103,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in NDAQ. Massachusetts Financial Services Co. MA lifted its stake in Nasdaq by 33.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 27,274,620 shares of the financial services provider’s stock worth $2,438,897,000 after purchasing an additional 6,840,735 shares in the last quarter. Norges Bank bought a new position in shares of Nasdaq in the second quarter worth $406,823,000. Vanguard Group Inc. raised its position in shares of Nasdaq by 5.3% in the second quarter. Vanguard Group Inc. now owns 55,800,000 shares of the financial services provider’s stock worth $4,989,636,000 after buying an additional 2,820,339 shares in the last quarter. Neuberger Berman Group LLC grew its position in Nasdaq by 261.7% in the second quarter. Neuberger Berman Group LLC now owns 2,690,186 shares of the financial services provider’s stock worth $240,556,000 after acquiring an additional 1,946,479 shares in the last quarter. Finally, Balyasny Asset Management L.P. grew its stake in shares of Nasdaq by 4,365.0% in the second quarter. Balyasny Asset Management L.P. now owns 1,641,123 shares of the financial services provider’s stock worth $146,749,000 after purchasing an additional 1,604,368 shares during the last quarter. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Nasdaq Stock Up 0.6%

NDAQ stock opened at $100.98 on Monday. The stock has a market cap of $57.66 billion, a P/E ratio of 36.06, a PEG ratio of 1.52 and a beta of 1.01. Nasdaq, Inc. has a twelve month low of $64.84 and a twelve month high of $101.79. The business’s 50-day moving average price is $93.45 and its 200-day moving average price is $92.03. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.72.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings data on Tuesday, October 21st. The financial services provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.06. Nasdaq had a return on equity of 16.28% and a net margin of 19.90%.The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the prior year, the company posted $0.74 earnings per share. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. On average, equities research analysts forecast that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were issued a $0.27 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. Nasdaq’s dividend payout ratio (DPR) is 38.57%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NDAQ. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $108.00 target price on shares of Nasdaq in a research report on Thursday, October 9th. Cowen reissued a “hold” rating on shares of Nasdaq in a report on Wednesday. Raymond James Financial reissued an “outperform” rating and set a $100.00 price target (up previously from $99.00) on shares of Nasdaq in a research report on Monday, October 13th. UBS Group reissued a “buy” rating and issued a $120.00 target price (up previously from $115.00) on shares of Nasdaq in a research report on Monday, January 12th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Nasdaq in a research note on Friday, January 9th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $103.67.

Insider Transactions at Nasdaq

In other news, EVP Jeremy Skule sold 2,105 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $85.40, for a total transaction of $179,767.00. Following the sale, the executive vice president directly owned 84,974 shares in the company, valued at approximately $7,256,779.60. This represents a 2.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John Zecca sold 4,500 shares of the company’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $100.01, for a total value of $450,045.00. Following the sale, the executive vice president owned 125,674 shares in the company, valued at approximately $12,568,656.74. This trade represents a 3.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 306,605 shares of company stock worth $29,546,812 in the last three months. Insiders own 0.70% of the company’s stock.

Nasdaq 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.