National Bank of Canada FI Increases Holdings in Nasdaq, Inc. (NASDAQ:NDAQ)

National Bank of Canada FI increased its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 435.6% during the second quarter, according to its most recent filing with the SEC. The fund owned 645,359 shares of the financial services provider’s stock after buying an additional 524,874 shares during the quarter. National Bank of Canada FI’s holdings in Nasdaq were worth $38,386,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in NDAQ. Janney Montgomery Scott LLC increased its stake in shares of Nasdaq by 7.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 240,851 shares of the financial services provider’s stock worth $15,198,000 after purchasing an additional 16,797 shares during the last quarter. Kingsview Wealth Management LLC purchased a new stake in Nasdaq in the 4th quarter worth about $1,949,000. SG Americas Securities LLC raised its stake in Nasdaq by 312.0% in the 1st quarter. SG Americas Securities LLC now owns 183,849 shares of the financial services provider’s stock valued at $11,601,000 after acquiring an additional 139,228 shares during the period. BNP Paribas Financial Markets lifted its holdings in Nasdaq by 12.8% during the fourth quarter. BNP Paribas Financial Markets now owns 415,101 shares of the financial services provider’s stock valued at $24,134,000 after purchasing an additional 46,957 shares during the last quarter. Finally, Quantbot Technologies LP raised its position in shares of Nasdaq by 237.3% in the first quarter. Quantbot Technologies LP now owns 30,845 shares of the financial services provider’s stock valued at $1,946,000 after purchasing an additional 21,699 shares during the period. Institutional investors own 72.47% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Seller Lp Argus sold 42,804,207 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $64.58, for a total transaction of $2,764,295,688.06. Following the sale, the insider now owns 42,804,207 shares of the company’s stock, valued at $2,764,295,688.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft increased their target price on Nasdaq from $66.00 to $72.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Keefe, Bruyette & Woods lifted their target price on Nasdaq from $76.00 to $78.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Bank of America raised shares of Nasdaq from an “underperform” rating to a “buy” rating and increased their price target for the stock from $53.00 to $90.00 in a report on Wednesday. Oppenheimer boosted their price objective on shares of Nasdaq from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, Barclays increased their target price on shares of Nasdaq from $74.00 to $77.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Nasdaq currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.69.

Nasdaq Price Performance

NDAQ opened at $73.40 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.94 and a quick ratio of 0.94. The stock’s 50 day simple moving average is $66.44 and its 200 day simple moving average is $62.28. The firm has a market cap of $42.22 billion, a price-to-earnings ratio of 38.63, a PEG ratio of 3.06 and a beta of 0.94. Nasdaq, Inc. has a 1 year low of $46.88 and a 1 year high of $74.17.

Nasdaq (NASDAQ:NDAQ) last issued its earnings results on Thursday, July 25th. The financial services provider reported $0.69 EPS for the quarter, topping the consensus estimate of $0.64 by $0.05. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. Nasdaq had a net margin of 14.43% and a return on equity of 15.45%. The firm’s revenue for the quarter was up 25.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.71 earnings per share. As a group, analysts predict that Nasdaq, Inc. will post 2.74 earnings per share for the current year.

Nasdaq Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend is Friday, September 13th. Nasdaq’s dividend payout ratio is presently 50.53%.

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.