Nasdaq, Inc. (NASDAQ:NDAQ) Position Cut by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 21.6% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 304,457 shares of the financial services provider’s stock after selling 84,018 shares during the quarter. Victory Capital Management Inc.’s holdings in Nasdaq were worth $18,347,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC lifted its stake in Nasdaq by 7.5% in the first quarter. Janney Montgomery Scott LLC now owns 240,851 shares of the financial services provider’s stock valued at $15,198,000 after buying an additional 16,797 shares during the last quarter. Kingsview Wealth Management LLC bought a new stake in Nasdaq in the fourth quarter valued at $1,949,000. SG Americas Securities LLC lifted its stake in Nasdaq by 312.0% in the first quarter. SG Americas Securities LLC now owns 183,849 shares of the financial services provider’s stock valued at $11,601,000 after buying an additional 139,228 shares during the last quarter. Quantbot Technologies LP lifted its stake in Nasdaq by 237.3% in the first quarter. Quantbot Technologies LP now owns 30,845 shares of the financial services provider’s stock valued at $1,946,000 after buying an additional 21,699 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in Nasdaq by 12.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 517,000 shares of the financial services provider’s stock valued at $32,624,000 after buying an additional 57,900 shares during the last quarter. 72.47% of the stock is currently owned by institutional investors.

Nasdaq Stock Up 0.7 %

Shares of Nasdaq stock opened at $72.57 on Friday. The stock has a market capitalization of $41.74 billion, a P/E ratio of 38.19, a PEG ratio of 2.94 and a beta of 0.95. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.85. The stock has a 50 day moving average price of $67.64 and a two-hundred day moving average price of $62.84. Nasdaq, Inc. has a 12-month low of $46.88 and a 12-month high of $74.17.

Nasdaq (NASDAQ:NDAQ) last announced its earnings results on Thursday, July 25th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. Nasdaq had a return on equity of 15.45% and a net margin of 14.43%. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the prior year, the business earned $0.71 earnings per share. The company’s revenue was up 25.3% on a year-over-year basis. Equities analysts expect that Nasdaq, Inc. will post 2.74 earnings per share for the current year.

Nasdaq Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a $0.24 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.96 annualized dividend and a dividend yield of 1.32%. Nasdaq’s dividend payout ratio is 50.53%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NDAQ. Keefe, Bruyette & Woods lifted their price objective on shares of Nasdaq from $76.00 to $78.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Barclays lifted their price target on Nasdaq from $74.00 to $77.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Oppenheimer lifted their price target on Nasdaq from $78.00 to $80.00 and gave the stock an “outperform” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft upped their target price on Nasdaq from $66.00 to $72.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Finally, Bank of America upgraded Nasdaq from an “underperform” rating to a “buy” rating and upped their target price for the company from $53.00 to $90.00 in a report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $72.08.

Insider Activity

In other news, major shareholder Seller Lp Argus sold 42,804,207 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $64.58, for a total value of $2,764,295,688.06. Following the completion of the sale, the insider now directly owns 42,804,207 shares of the company’s stock, valued at $2,764,295,688.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.70% of the stock is owned by company insiders.

Nasdaq Company 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.