Meeder Advisory Services Inc. Invests $461,000 in Nasdaq, Inc. $NDAQ

Meeder Advisory Services Inc. acquired a new stake in Nasdaq, Inc. (NASDAQ:NDAQ) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,850 shares of the financial services provider’s stock, valued at approximately $461,000.

Other large investors have also bought and sold shares of the company. MV Capital Management Inc. bought a new stake in Nasdaq in the fourth quarter worth about $28,000. Nemes Rush Group LLC bought a new position in shares of Nasdaq during the 4th quarter valued at about $35,000. Uniplan Investment Counsel Inc. bought a new position in shares of Nasdaq during the 4th quarter valued at about $35,000. Fideuram Asset Management Ireland dac acquired a new position in shares of Nasdaq in the 4th quarter worth approximately $37,000. Finally, Reflection Asset Management acquired a new position in shares of Nasdaq in the 4th quarter worth approximately $41,000. Institutional investors own 72.47% of the company’s stock.

Insider Transactions at Nasdaq

In related news, EVP Bradley J. Peterson sold 13,000 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $92.61, for a total transaction of $1,203,930.00. Following the transaction, the executive vice president directly owned 128,293 shares of the company’s stock, valued at approximately $11,881,214.73. The trade was a 9.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Ab Investor purchased 56,782 shares of the stock in a transaction dated Thursday, June 11th. The shares were bought at an average price of $85.98 per share, for a total transaction of $4,882,116.36. Following the completion of the acquisition, the insider owned 58,439,208 shares in the company, valued at $5,024,603,103.84. This represents a 0.10% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold a total of 41,797 shares of company stock valued at $3,926,319 over the last quarter. Company insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

NDAQ has been the subject of a number of research reports. Keefe, Bruyette & Woods raised their target price on shares of Nasdaq from $92.00 to $102.00 and gave the stock a “market perform” rating in a report on Friday, July 24th. Rothschild & Co Redburn set a $110.00 price objective on Nasdaq in a research report on Thursday, June 11th. Wall Street Zen upgraded Nasdaq from a “sell” rating to a “hold” rating in a report on Sunday, May 3rd. Raymond James Financial reaffirmed an “outperform” rating and set a $113.00 target price (up from $111.00) on shares of Nasdaq in a research report on Thursday, July 9th. Finally, TD Cowen reaffirmed a “buy” rating and set a $105.00 target price (up from $101.00) on shares of Nasdaq in a report on Monday, July 20th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $110.30.

Nasdaq Stock Up 1.2%

NDAQ stock opened at $97.55 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $54.53 billion, a P/E ratio of 28.44, a P/E/G ratio of 1.30 and a beta of 0.97. Nasdaq, Inc. has a 52-week low of $76.55 and a 52-week high of $101.79. The company’s 50 day simple moving average is $89.66 and its 200-day simple moving average is $87.96.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.09. Nasdaq had a net margin of 22.60% and a return on equity of 18.38%. The firm had revenue of $2.53 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the business posted $0.85 EPS. The company’s revenue was up 14.9% on a year-over-year basis. As a group, equities research analysts anticipate that Nasdaq, Inc. will post 4.15 EPS for the current year.

Nasdaq Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be issued a $0.31 dividend. The ex-dividend date is Friday, September 11th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.3%. Nasdaq’s dividend payout ratio is presently 36.15%.

About Nasdaq

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.