Commerce Bank Cuts Stake in Nasdaq, Inc. (NASDAQ:NDAQ)

Commerce Bank reduced its position in Nasdaq, Inc. (NASDAQ:NDAQ) by 2.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 329,337 shares of the financial services provider’s stock after selling 8,581 shares during the quarter. Commerce Bank’s holdings in Nasdaq were worth $24,045,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Y.D. More Investments Ltd grew its holdings in shares of Nasdaq by 94.8% during the second quarter. Y.D. More Investments Ltd now owns 415 shares of the financial services provider’s stock valued at $25,000 after buying an additional 202 shares during the last quarter. Hobbs Group Advisors LLC acquired a new position in Nasdaq during the second quarter valued at $26,000. Catalyst Capital Advisors LLC acquired a new position in Nasdaq during the third quarter valued at $27,000. Crewe Advisors LLC lifted its position in Nasdaq by 164.4% during the second quarter. Crewe Advisors LLC now owns 505 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 314 shares during the period. Finally, LRI Investments LLC acquired a new position in Nasdaq during the first quarter valued at $31,000. 72.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group boosted their target price on shares of Nasdaq from $77.00 to $83.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Argus upped their price objective on shares of Nasdaq from $76.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Royal Bank of Canada reiterated an “outperform” rating and issued a $88.00 price objective on shares of Nasdaq in a research report on Tuesday. UBS Group upped their price objective on shares of Nasdaq from $73.00 to $79.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. Finally, TD Cowen decreased their price objective on shares of Nasdaq from $81.00 to $80.00 and set a “hold” rating for the company in a research report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Nasdaq has an average rating of “Moderate Buy” and a consensus target price of $80.87.

Insider Transactions at Nasdaq

In other Nasdaq news, EVP Bradley J. Peterson sold 13,642 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $75.32, for a total transaction of $1,027,515.44. Following the sale, the executive vice president now directly owns 142,830 shares in the company, valued at $10,757,955.60. This represents a 8.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Pc Nelson Griggs sold 6,000 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $75.71, for a total transaction of $454,260.00. Following the sale, the insider now owns 215,563 shares in the company, valued at approximately $16,320,274.73. This trade represents a 2.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,459 shares of company stock worth $3,811,808. 0.70% of the stock is currently owned by insiders.

Nasdaq Stock Performance

Shares of NDAQ stock opened at $80.08 on Thursday. The firm’s 50 day moving average price is $74.78 and its 200-day moving average price is $67.82. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.95 and a current ratio of 0.95. Nasdaq, Inc. has a one year low of $53.62 and a one year high of $81.08. The firm has a market cap of $46.03 billion, a P/E ratio of 47.95, a P/E/G ratio of 3.07 and a beta of 0.95.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.74 EPS for the quarter, topping the consensus estimate of $0.69 by $0.05. Nasdaq had a net margin of 13.67% and a return on equity of 14.56%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the business posted $0.71 EPS. The business’s revenue for the quarter was up 21.9% compared to the same quarter last year. As a group, equities research analysts predict that Nasdaq, Inc. will post 2.78 EPS for the current year.

Nasdaq Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a $0.24 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.96 annualized dividend and a dividend yield of 1.20%. Nasdaq’s dividend payout ratio is currently 57.49%.

Nasdaq 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.