Maryland State Retirement & Pension System Grows Position in Nasdaq, Inc. $NDAQ

Maryland State Retirement & Pension System raised its position in Nasdaq, Inc. (NASDAQ:NDAQ) by 4.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,044 shares of the financial services provider’s stock after purchasing an additional 790 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Nasdaq were worth $1,792,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Bruce G. Allen Investments LLC raised its holdings in shares of Nasdaq by 72.7% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 285 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 120 shares during the period. Grove Bank & Trust raised its holdings in shares of Nasdaq by 194.6% in the 1st quarter. Grove Bank & Trust now owns 327 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 216 shares during the period. Highline Wealth Partners LLC raised its holdings in shares of Nasdaq by 1,509.5% in the 1st quarter. Highline Wealth Partners LLC now owns 338 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 317 shares during the period. Opal Wealth Advisors LLC purchased a new position in shares of Nasdaq in the 1st quarter worth about $26,000. Finally, First Command Advisory Services Inc. purchased a new position in shares of Nasdaq in the 1st quarter worth about $30,000. 72.47% of the stock is currently owned by hedge funds and other institutional investors.

Nasdaq Trading Down 2.7%

NASDAQ:NDAQ opened at $88.90 on Friday. Nasdaq, Inc. has a 12-month low of $64.84 and a 12-month high of $97.63. The firm has a market capitalization of $51.01 billion, a P/E ratio of 34.19, a P/E/G ratio of 2.02 and a beta of 0.98. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.96 and a quick ratio of 0.96. The business has a 50 day simple moving average of $92.68 and a 200 day simple moving average of $85.94.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.07. Nasdaq had a return on equity of 15.90% and a net margin of 18.59%.The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the previous year, the firm posted $0.69 EPS. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. Equities research analysts predict that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were given a dividend of $0.27 per share. The ex-dividend date was Friday, September 12th. This represents a $1.08 dividend on an annualized basis and a yield of 1.2%. Nasdaq’s payout ratio is currently 41.54%.

Analysts Set New Price Targets

NDAQ has been the topic of several analyst reports. Citigroup reiterated a “neutral” rating on shares of Nasdaq in a report on Wednesday, July 9th. Weiss Ratings reiterated a “buy (b)” rating on shares of Nasdaq in a report on Saturday, September 27th. Piper Sandler raised their target price on Nasdaq from $97.00 to $104.00 and gave the company an “overweight” rating in a report on Monday, August 4th. Keefe, Bruyette & Woods raised their target price on Nasdaq from $103.00 to $104.00 and gave the company an “outperform” rating in a report on Friday, July 25th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Nasdaq in a report on Friday, July 25th. Fifteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $97.25.

Insider Buying and Selling

In related news, SVP Michelle Lynn Daly sold 8,691 shares of the business’s stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $93.45, for a total transaction of $812,173.95. Following the completion of the transaction, the senior vice president owned 8,879 shares in the company, valued at $829,742.55. The trade was a 49.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jeremy Skule sold 2,105 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $95.49, for a total value of $201,006.45. Following the transaction, the executive vice president owned 92,551 shares of the company’s stock, valued at $8,837,694.99. This represents a 2.22% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.70% of the company’s stock.

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.