EverSource Wealth Advisors LLC Raises Stock Position in Nasdaq, Inc. (NASDAQ:NDAQ)

EverSource Wealth Advisors LLC lifted its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 385.6% during the 2nd quarter, Holdings Channel.com reports. The fund owned 1,719 shares of the financial services provider’s stock after buying an additional 1,365 shares during the period. EverSource Wealth Advisors LLC’s holdings in Nasdaq were worth $104,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Frank Rimerman Advisors LLC acquired a new position in Nasdaq during the second quarter worth $531,000. Ensign Peak Advisors Inc increased its position in shares of Nasdaq by 12.8% in the second quarter. Ensign Peak Advisors Inc now owns 197,621 shares of the financial services provider’s stock valued at $11,909,000 after buying an additional 22,385 shares in the last quarter. Sompo Asset Management Co. Ltd. raised its stake in shares of Nasdaq by 52.3% during the 2nd quarter. Sompo Asset Management Co. Ltd. now owns 14,670 shares of the financial services provider’s stock worth $884,000 after buying an additional 5,040 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Nasdaq by 51.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 820,891 shares of the financial services provider’s stock worth $49,466,000 after buying an additional 277,597 shares in the last quarter. Finally, Sei Investments Co. grew its stake in Nasdaq by 1.7% in the 2nd quarter. Sei Investments Co. now owns 233,014 shares of the financial services provider’s stock valued at $14,040,000 after acquiring an additional 3,872 shares during the last quarter. Institutional investors and hedge funds own 72.47% of the company’s stock.

Nasdaq Stock Performance

Shares of NDAQ stock opened at $72.56 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market capitalization of $41.74 billion, a price-to-earnings ratio of 38.19, a price-to-earnings-growth ratio of 3.04 and a beta of 0.95. Nasdaq, Inc. has a one year low of $46.88 and a one year high of $74.88. The company has a 50 day moving average price of $69.90 and a 200 day moving average price of $63.96.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.69 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 business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the prior year, the firm posted $0.71 EPS. The business’s revenue for the quarter was up 25.3% on a year-over-year basis. Sell-side analysts anticipate that Nasdaq, Inc. will post 2.75 EPS for the current year.

Nasdaq Announces Dividend

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

Insider Transactions at Nasdaq

In related news, major shareholder Seller Lp Argus sold 42,804,207 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $64.58, for a total value of $2,764,295,688.06. Following the transaction, the insider now owns 42,804,207 shares in the company, valued at $2,764,295,688.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

NDAQ has been the topic of several recent research reports. Barclays upped their price target on shares of Nasdaq from $74.00 to $77.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Bank of America upgraded Nasdaq from an “underperform” rating to a “buy” rating and increased their target price for the company from $53.00 to $90.00 in a report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft boosted their price target on Nasdaq from $66.00 to $72.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Keefe, Bruyette & Woods increased their price objective on Nasdaq from $76.00 to $78.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, Oppenheimer boosted their target price on shares of Nasdaq from $78.00 to $80.00 and gave the company an “outperform” rating in a research note on Monday, September 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Nasdaq presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.86.

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.