Arizona State Retirement System Cuts Stake in Nasdaq Inc (NDAQ)

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Arizona State Retirement System decreased its position in Nasdaq Inc (NASDAQ:NDAQ) by 21.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 75,192 shares of the financial services provider’s stock after selling 21,028 shares during the quarter. Arizona State Retirement System’s holdings in Nasdaq were worth $6,863,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Amalgamated Bank raised its stake in Nasdaq by 6.0% in the 2nd quarter. Amalgamated Bank now owns 15,065 shares of the financial services provider’s stock valued at $1,375,000 after purchasing an additional 852 shares during the last quarter. State of Alaska Department of Revenue raised its stake in Nasdaq by 4.0% in the 2nd quarter. State of Alaska Department of Revenue now owns 37,275 shares of the financial services provider’s stock valued at $3,400,000 after purchasing an additional 1,430 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in Nasdaq by 2.0% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 410,164 shares of the financial services provider’s stock valued at $35,365,000 after purchasing an additional 8,037 shares during the last quarter. Sei Investments Co. raised its stake in Nasdaq by 37.1% in the 1st quarter. Sei Investments Co. now owns 53,272 shares of the financial services provider’s stock valued at $4,593,000 after purchasing an additional 14,426 shares during the last quarter. Finally, TNB Financial acquired a new position in Nasdaq in the 2nd quarter valued at about $201,000. 76.59% of the stock is owned by hedge funds and other institutional investors.

NDAQ opened at $92.53 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market capitalization of $15.31 billion, a price-to-earnings ratio of 22.80, a price-to-earnings-growth ratio of 2.01 and a beta of 0.71. Nasdaq Inc has a 12 month low of $71.65 and a 12 month high of $96.19.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings results on Wednesday, July 25th. The financial services provider reported $1.18 EPS for the quarter, beating the consensus estimate of $1.17 by $0.01. The company had revenue of $615.00 million during the quarter, compared to analysts’ expectations of $620.25 million. Nasdaq had a return on equity of 13.40% and a net margin of 18.13%. The firm’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.02 EPS. sell-side analysts forecast that Nasdaq Inc will post 4.82 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 14th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Thursday, September 13th. Nasdaq’s dividend payout ratio (DPR) is 43.35%.

In other Nasdaq news, Director Lars Wedenborn sold 2,097 shares of Nasdaq stock in a transaction dated Thursday, May 24th. The stock was sold at an average price of $91.89, for a total value of $192,693.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bradley J. Peterson sold 1,500 shares of the business’s stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $93.34, for a total value of $140,010.00. The disclosure for this sale can be found here. 0.40% of the stock is owned by insiders.

Several research analysts recently weighed in on NDAQ shares. JPMorgan Chase & Co. boosted their target price on shares of Nasdaq from $87.00 to $89.00 and gave the company a “neutral” rating in a research note on Thursday, April 26th. Bank of America raised shares of Nasdaq from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $65.98 to $90.00 in a research note on Thursday, April 26th. UBS Group boosted their target price on shares of Nasdaq from $101.00 to $107.00 and gave the company a “buy” rating in a research note on Thursday, July 26th. Jefferies Financial Group reissued a “hold” rating and issued a $90.00 target price on shares of Nasdaq in a research note on Friday, July 13th. Finally, Raymond James boosted their target price on shares of Nasdaq from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Tuesday, July 10th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. Nasdaq currently has a consensus rating of “Hold” and an average target price of $93.71.

About Nasdaq

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.

Further Reading: Short Selling

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Institutional Ownership by Quarter for Nasdaq (NASDAQ:NDAQ)

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