Sterling Capital Management LLC Sells 28,305 Shares of Nasdaq, Inc. $NDAQ

Sterling Capital Management LLC lowered its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 5.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 513,659 shares of the financial services provider’s stock after selling 28,305 shares during the quarter. Sterling Capital Management LLC owned about 0.09% of Nasdaq worth $45,931,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bruce G. Allen Investments LLC lifted its position in Nasdaq by 72.7% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 285 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 120 shares in the last quarter. Access Investment Management LLC bought a new stake in shares of Nasdaq in the second quarter valued at about $28,000. First Command Advisory Services Inc. bought a new position in shares of Nasdaq during the first quarter worth about $30,000. CVA Family Office LLC boosted its position in Nasdaq by 137.4% during the 2nd quarter. CVA Family Office LLC now owns 368 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 213 shares during the last quarter. Finally, AlphaQuest LLC acquired a new stake in shares of Nasdaq in the first quarter valued at approximately $34,000. Institutional investors and hedge funds own 72.47% of the company’s stock.

Nasdaq Trading Up 0.7%

NDAQ stock opened at $86.19 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.99 and a quick ratio of 0.99. The company has a fifty day moving average price of $89.76 and a two-hundred day moving average price of $87.99. Nasdaq, Inc. has a one year low of $64.84 and a one year high of $97.63. The stock has a market cap of $49.21 billion, a price-to-earnings ratio of 30.78, a price-to-earnings-growth ratio of 1.79 and a beta of 0.98.

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

Nasdaq Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be given 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 yield of 1.3%. Nasdaq’s dividend payout ratio is currently 38.57%.

Insider Buying and Selling

In other news, EVP Jeremy Skule sold 2,105 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $85.40, for a total transaction of $179,767.00. Following the completion of the sale, the executive vice president directly owned 84,974 shares in the company, valued at approximately $7,256,779.60. This represents a 2.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently commented on NDAQ. Weiss Ratings restated a “buy (b-)” rating on shares of Nasdaq in a report on Tuesday, October 14th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Nasdaq from $97.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Cowen reaffirmed a “hold” rating on shares of Nasdaq in a research report on Wednesday, October 22nd. Oppenheimer reiterated an “outperform” rating and set a $101.00 target price (up previously from $96.00) on shares of Nasdaq in a report on Tuesday, July 15th. Finally, UBS Group raised shares of Nasdaq from a “neutral” rating to a “buy” rating and raised their target price for the company from $95.00 to $115.00 in a research note on Friday, July 25th. Fourteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $99.67.

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.