Cumberland Partners Ltd Takes Position in Nasdaq, Inc. (NASDAQ:NDAQ)

Cumberland Partners Ltd bought a new position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 142,444 shares of the financial services provider’s stock, valued at approximately $10,400,000.

A number of other institutional investors have also made changes to their positions in the business. Y.D. More Investments Ltd boosted its position in Nasdaq by 94.8% during the second quarter. Y.D. More Investments Ltd now owns 415 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 202 shares during the period. Hobbs Group Advisors LLC acquired a new stake in Nasdaq during the second quarter worth approximately $26,000. Catalyst Capital Advisors LLC bought a new stake in shares of Nasdaq during the third quarter worth approximately $27,000. Crewe Advisors LLC grew its position in shares of Nasdaq by 164.4% in 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 last quarter. Finally, LRI Investments LLC bought a new position in shares of Nasdaq during the first quarter worth approximately $31,000. 72.47% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Bradley J. Peterson sold 13,642 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $75.32, for a total transaction of $1,027,515.44. Following the completion of the transaction, the executive vice president now directly owns 142,830 shares in the company, valued at $10,757,955.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Nasdaq news, EVP Bradley J. Peterson sold 13,642 shares of the firm’s 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 completion of the transaction, the executive vice president now owns 142,830 shares in the company, valued at approximately $10,757,955.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Pc Nelson Griggs sold 6,000 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $75.71, for a total transaction of $454,260.00. Following the completion of the sale, the insider now directly owns 215,563 shares in the company, valued at approximately $16,320,274.73. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,384 shares of company stock valued at $2,860,902. 0.70% of the stock is currently owned by company insiders.

Nasdaq Price Performance

NDAQ stock traded down $0.05 during midday trading on Tuesday, reaching $79.61. 191,006 shares of the stock were exchanged, compared to its average volume of 2,870,325. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $45.76 billion, a PE ratio of 47.70, a P/E/G ratio of 3.08 and a beta of 0.95. Nasdaq, Inc. has a 52 week low of $51.72 and a 52 week high of $80.41. The company has a fifty day moving average price of $73.77 and a 200 day moving average price of $66.92.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. Nasdaq had a net margin of 13.67% and a return on equity of 14.56%. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the business earned $0.71 EPS. The firm’s quarterly revenue was up 21.9% on a year-over-year basis. As a group, analysts expect that Nasdaq, Inc. will post 2.78 EPS for the current fiscal year.

Nasdaq Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.21%. The ex-dividend date is Friday, December 6th. Nasdaq’s dividend payout ratio is currently 57.49%.

Analysts Set New Price Targets

A number of brokerages have commented on NDAQ. Argus upped their price objective on Nasdaq from $76.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. TD Cowen lowered their price target on shares of Nasdaq from $81.00 to $80.00 and set a “hold” rating on the stock in a research report on Monday, October 28th. Piper Sandler boosted their price objective on shares of Nasdaq from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Nasdaq from $78.00 to $80.00 and gave the stock a “hold” rating in a research report on Monday. Finally, Morgan Stanley lifted their price target on shares of Nasdaq from $92.00 to $93.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $80.87.

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.