Westpac Banking Corp Increases Stake in Nasdaq Inc (NASDAQ:NDAQ)

Westpac Banking Corp boosted its stake in Nasdaq Inc (NASDAQ:NDAQ) by 7.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 74,129 shares of the financial services provider’s stock after purchasing an additional 4,900 shares during the period. Westpac Banking Corp’s holdings in Nasdaq were worth $7,129,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Pittenger & Anderson Inc. bought a new stake in shares of Nasdaq during the first quarter valued at approximately $66,000. Dupont Capital Management Corp bought a new stake in Nasdaq in the first quarter worth $96,000. Lenox Wealth Management Inc. boosted its holdings in Nasdaq by 1,562.9% in the first quarter. Lenox Wealth Management Inc. now owns 1,164 shares of the financial services provider’s stock worth $102,000 after acquiring an additional 1,094 shares in the last quarter. NuWave Investment Management LLC boosted its holdings in Nasdaq by 301.3% in the second quarter. NuWave Investment Management LLC now owns 1,224 shares of the financial services provider’s stock worth $118,000 after acquiring an additional 919 shares in the last quarter. Finally, Bremer Bank National Association bought a new stake in Nasdaq in the first quarter worth $119,000. Hedge funds and other institutional investors own 75.67% of the company’s stock.

In other news, insider Bradley J. Peterson sold 1,550 shares of the business’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $96.65, for a total value of $149,807.50. Following the completion of the transaction, the insider now owns 21,408 shares in the company, valued at $2,069,083.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ann M. Dennison sold 5,496 shares of the business’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $96.55, for a total value of $530,638.80. The disclosure for this sale can be found here. Insiders sold 35,265 shares of company stock valued at $3,278,752 in the last 90 days. Company insiders own 0.50% of the company’s stock.



Shares of NDAQ stock traded up $0.74 during mid-day trading on Friday, hitting $97.72. The company’s stock had a trading volume of 4,731 shares, compared to its average volume of 845,351. Nasdaq Inc has a 52-week low of $75.49 and a 52-week high of $104.69. The business has a 50-day moving average price of $99.39 and a 200 day moving average price of $92.22. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market cap of $16.13 billion, a price-to-earnings ratio of 20.17, a PEG ratio of 2.90 and a beta of 0.66.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $1.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.03. Nasdaq had a return on equity of 14.68% and a net margin of 12.86%. The firm had revenue of $665.00 million during the quarter, compared to analysts’ expectations of $629.06 million. During the same quarter in the previous year, the business earned $1.18 earnings per share. The company’s revenue was up 2.5% on a year-over-year basis. Equities research analysts predict that Nasdaq Inc will post 4.92 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend is Thursday, September 12th. Nasdaq’s dividend payout ratio is currently 38.84%.

NDAQ has been the topic of several analyst reports. Zacks Investment Research downgraded Nasdaq from a “hold” rating to a “sell” rating in a report on Thursday, May 23rd. Deutsche Bank dropped their target price on Nasdaq from $113.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Citigroup downgraded Nasdaq from a “neutral” rating to a “sell” rating and boosted their target price for the stock from $93.00 to $95.00 in a report on Monday, July 22nd. Wells Fargo & Co boosted their target price on Nasdaq from $97.00 to $112.00 and gave the stock an “outperform” rating in a report on Wednesday, July 10th. Finally, BidaskClub raised Nasdaq from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. Nasdaq presently has a consensus rating of “Hold” and an average target price of $102.00.

Nasdaq Company Profile

Nasdaq, Inc provides trading, clearing, marketplace technology, regulatory, securities listing, information, and public and private company services worldwide. The company's Market Services segment offers equity derivative trading and clearing; cash equity trading; fixed income and commodities trading and clearing; and trade management services.

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Institutional Ownership by Quarter for Nasdaq (NASDAQ:NDAQ)

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