CIBC Asset Management Inc Acquires 48,244 Shares of Nasdaq, Inc. $NDAQ

CIBC Asset Management Inc lifted its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 35.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 185,484 shares of the financial services provider’s stock after acquiring an additional 48,244 shares during the period. CIBC Asset Management Inc’s holdings in Nasdaq were worth $18,016,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in NDAQ. Norges Bank purchased a new stake in Nasdaq in the 4th quarter valued at about $530,100,000. Vanguard Group Inc. lifted its position in shares of Nasdaq by 6.9% during the 3rd quarter. Vanguard Group Inc. now owns 59,648,406 shares of the financial services provider’s stock worth $5,275,902,000 after buying an additional 3,848,406 shares in the last quarter. State Street Corp boosted its stake in shares of Nasdaq by 7.7% in the 3rd quarter. State Street Corp now owns 19,619,192 shares of the financial services provider’s stock worth $1,735,318,000 after buying an additional 1,404,348 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Nasdaq by 4.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 27,627,767 shares of the financial services provider’s stock valued at $2,683,485,000 after acquiring an additional 1,258,964 shares in the last quarter. Finally, Select Equity Group L.P. bought a new position in shares of Nasdaq in the second quarter valued at approximately $110,259,000. Institutional investors and hedge funds own 72.47% of the company’s stock.

Nasdaq Price Performance

Nasdaq stock opened at $88.45 on Friday. The business’s 50 day simple moving average is $88.45 and its 200 day simple moving average is $90.08. Nasdaq, Inc. has a 12 month low of $77.09 and a 12 month high of $101.79. The company has a market cap of $50.02 billion, a price-to-earnings ratio of 26.64, a PEG ratio of 1.73 and a beta of 0.97. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.71.

Nasdaq (NASDAQ:NDAQ) last released its earnings results on Thursday, April 23rd. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.03. Nasdaq had a return on equity of 17.51% and a net margin of 23.15%.The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period last year, the business posted $0.79 earnings per share. The business’s revenue for the quarter was up 13.7% on a year-over-year basis. Sell-side analysts forecast that Nasdaq, Inc. will post 3.86 EPS for the current year.

Nasdaq Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.4%. This is a boost from Nasdaq’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, June 12th. Nasdaq’s payout ratio is currently 32.53%.

Insider Buying and Selling at Nasdaq

In other Nasdaq news, CEO Adena T. Friedman sold 113,611 shares of the stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $85.44, for a total transaction of $9,706,923.84. Following the completion of the transaction, the chief executive officer owned 1,965,751 shares in the company, valued at $167,953,765.44. This trade represents a 5.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Bradley J. Peterson sold 7,710 shares of Nasdaq stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $90.82, for a total transaction of $700,222.20. Following the completion of the transaction, the executive vice president owned 141,035 shares of the company’s stock, valued at $12,808,798.70. The trade was a 5.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 138,162 shares of company stock valued at $11,932,913 in the last three months. 0.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on NDAQ. Wall Street Zen upgraded Nasdaq from a “sell” rating to a “hold” rating in a report on Sunday, May 3rd. Barclays upped their price objective on Nasdaq from $115.00 to $116.00 and gave the company an “overweight” rating in a research note on Wednesday, April 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Nasdaq in a research note on Wednesday, April 22nd. Raymond James Financial reissued an “outperform” rating and issued a $109.00 price target on shares of Nasdaq in a report on Wednesday, February 25th. Finally, TD Cowen upgraded shares of Nasdaq from a “hold” rating to a “buy” rating and increased their price target for the company from $105.00 to $106.00 in a research report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Nasdaq has a consensus rating of “Moderate Buy” and an average target price of $107.15.

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.