Cibc World Market Inc. Has $3.03 Million Holdings in Nasdaq, Inc. $NDAQ

Cibc World Market Inc. lifted its holdings in Nasdaq, Inc. (NASDAQ:NDAQ) by 22.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,232 shares of the financial services provider’s stock after acquiring an additional 5,785 shares during the quarter. Cibc World Market Inc.’s holdings in Nasdaq were worth $3,034,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Legal & General Group Plc boosted its holdings in shares of Nasdaq by 1.6% in the 4th quarter. Legal & General Group Plc now owns 2,855,235 shares of the financial services provider’s stock worth $277,329,000 after acquiring an additional 45,783 shares in the last quarter. M&T Bank Corp lifted its holdings in Nasdaq by 27.5% during the 4th quarter. M&T Bank Corp now owns 61,076 shares of the financial services provider’s stock worth $5,933,000 after buying an additional 13,160 shares in the last quarter. Advisors Preferred LLC acquired a new position in Nasdaq during the 4th quarter worth $4,872,000. AlphaCore Capital LLC acquired a new position in Nasdaq during the 4th quarter worth $1,245,000. Finally, Intech Investment Management LLC lifted its holdings in Nasdaq by 129.2% during the 3rd quarter. Intech Investment Management LLC now owns 55,134 shares of the financial services provider’s stock worth $4,877,000 after buying an additional 31,081 shares in the last quarter. 72.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NDAQ has been the topic of several research reports. Wall Street Zen raised Nasdaq from a “sell” rating to a “hold” rating in a report on Sunday, May 3rd. Loop Capital set a $113.00 price objective on Nasdaq in a report on Friday, April 24th. Keefe, Bruyette & Woods upped their price objective on Nasdaq from $92.00 to $97.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Nasdaq in a report on Wednesday, April 22nd. Finally, TD Cowen raised Nasdaq from a “hold” rating to a “buy” rating and upped their price objective for the stock from $105.00 to $106.00 in a report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $107.15.

Nasdaq Price Performance

NDAQ opened at $86.78 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.71. Nasdaq, Inc. has a 12 month low of $77.09 and a 12 month high of $101.79. The company has a fifty day simple moving average of $88.58 and a 200 day simple moving average of $90.10. The stock has a market cap of $49.08 billion, a P/E ratio of 26.14, a P/E/G ratio of 1.74 and a beta of 0.97.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.03. Nasdaq had a net margin of 23.15% and a return on equity of 17.51%. The business had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the prior year, the company earned $0.79 EPS. The firm’s quarterly revenue was up 13.7% on a year-over-year basis. On average, research analysts expect that Nasdaq, Inc. will post 3.86 EPS for the current year.

Nasdaq Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be given a $0.31 dividend. The ex-dividend date is Friday, June 12th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.4%. This is an increase from Nasdaq’s previous quarterly dividend of $0.27. Nasdaq’s dividend payout ratio is currently 32.53%.

Insider Activity

In related news, CEO Adena T. Friedman sold 113,611 shares of the company’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $85.44, for a total value of $9,706,923.84. Following the completion of the sale, the chief executive officer owned 1,965,751 shares in the company, valued at $167,953,765.44. This represents a 5.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Cohen Tal sold 15,518 shares of the stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $90.75, for a total value of $1,408,258.50. Following the transaction, the insider owned 215,208 shares of the company’s stock, valued at approximately $19,530,126. This trade represents a 6.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 138,162 shares of company stock worth $11,932,913 in the last 90 days. Corporate insiders own 0.60% of the company’s stock.

Nasdaq Company 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.