Teacher Retirement System of Texas Grows Stock Holdings in Nasdaq, Inc. $NDAQ

Teacher Retirement System of Texas raised its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 27.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 225,911 shares of the financial services provider’s stock after buying an additional 48,719 shares during the quarter. Teacher Retirement System of Texas’ holdings in Nasdaq were worth $20,201,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of NDAQ. Nuveen LLC purchased a new stake in shares of Nasdaq during the first quarter valued at about $241,614,000. Invesco Ltd. raised its position in shares of Nasdaq by 40.8% in the 1st quarter. Invesco Ltd. now owns 5,494,271 shares of the financial services provider’s stock valued at $416,795,000 after purchasing an additional 1,592,057 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Nasdaq by 5.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 20,433,885 shares of the financial services provider’s stock valued at $1,550,115,000 after purchasing an additional 993,553 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Nasdaq by 54.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 2,689,196 shares of the financial services provider’s stock valued at $240,468,000 after purchasing an additional 952,354 shares during the last quarter. Finally, Lord Abbett & CO. LLC raised its position in shares of Nasdaq by 104.5% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,655,341 shares of the financial services provider’s stock valued at $125,574,000 after purchasing an additional 845,725 shares during the last quarter. 72.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NDAQ. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Nasdaq in a research report on Tuesday, October 14th. UBS Group raised shares of Nasdaq from a “neutral” rating to a “buy” rating and increased their price objective for the company from $95.00 to $115.00 in a research report on Friday, July 25th. Citigroup reaffirmed a “neutral” rating on shares of Nasdaq in a research report on Wednesday, July 9th. Barclays set a $109.00 price objective on shares of Nasdaq and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Finally, Morgan Stanley set a $90.00 price target on shares of Nasdaq and gave the stock an “equal weight” rating in a research report on Wednesday, October 1st. Fifteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $98.56.

Insider Activity at Nasdaq

In other news, EVP Jeremy Skule sold 2,105 shares of the firm’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 transaction of $201,006.45. Following the sale, the executive vice president owned 92,551 shares of the company’s stock, valued at $8,837,694.99. This trade represents a 2.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.70% of the stock is owned by insiders.

Nasdaq Stock Performance

NDAQ opened at $87.96 on Wednesday. The firm has a market capitalization of $50.22 billion, a PE ratio of 31.41, a P/E/G ratio of 1.86 and a beta of 0.98. Nasdaq, Inc. has a 12-month low of $64.84 and a 12-month high of $97.63. The firm has a 50 day moving average of $90.99 and a two-hundred day moving average of $87.44. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.72.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings data on Tuesday, October 21st. The financial services provider reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.06. The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Nasdaq had a net margin of 19.90% and a return on equity of 16.28%. The business’s revenue was up 14.7% on a year-over-year basis. During the same quarter last year, the company earned $0.74 EPS. On average, analysts anticipate that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. Nasdaq’s dividend payout ratio (DPR) is presently 38.57%.

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.