Canada Pension Plan Investment Board Sells 118,894 Shares of Nasdaq, Inc. (NASDAQ:NDAQ)

Canada Pension Plan Investment Board cut its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 53.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 104,603 shares of the financial services provider’s stock after selling 118,894 shares during the period. Canada Pension Plan Investment Board’s holdings in Nasdaq were worth $6,303,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Y.D. More Investments Ltd grew its holdings in Nasdaq by 94.8% in the 2nd quarter. Y.D. More Investments Ltd now owns 415 shares of the financial services provider’s stock valued at $25,000 after buying an additional 202 shares in the last quarter. Salem Investment Counselors Inc. boosted its position in shares of Nasdaq by 89.3% in the first quarter. Salem Investment Counselors Inc. now owns 426 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 201 shares during the period. Hobbs Group Advisors LLC acquired a new position in shares of Nasdaq in the second quarter valued at about $26,000. LRI Investments LLC bought a new position in Nasdaq during the first quarter worth about $31,000. Finally, Crewe Advisors LLC raised its stake in Nasdaq by 164.4% in the 2nd quarter. Crewe Advisors LLC now owns 505 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 314 shares in the last quarter. Institutional investors own 72.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of Nasdaq from $66.00 to $72.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Keefe, Bruyette & Woods upped their target price on Nasdaq from $76.00 to $78.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Bank of America upgraded Nasdaq from an “underperform” rating to a “buy” rating and raised their price target for the stock from $53.00 to $90.00 in a research report on Wednesday, September 4th. Oppenheimer upped their price objective on shares of Nasdaq from $78.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, September 9th. Finally, Barclays raised their target price on shares of Nasdaq from $74.00 to $77.00 and gave the company an “overweight” rating in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Nasdaq presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.08.

Nasdaq Stock Down 0.5 %

NASDAQ:NDAQ opened at $73.67 on Wednesday. Nasdaq, Inc. has a one year low of $46.88 and a one year high of $74.88. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market cap of $42.38 billion, a PE ratio of 38.77, a P/E/G ratio of 2.97 and a beta of 0.95. The firm’s 50 day simple moving average is $69.51 and its 200 day simple moving average is $63.83.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings results 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. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. Nasdaq had a net margin of 14.43% and a return on equity of 15.45%. Nasdaq’s revenue was up 25.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.71 earnings per share. On average, research analysts anticipate that Nasdaq, Inc. will post 2.74 earnings per share for the current year.

Nasdaq Dividend Announcement

The business also recently declared 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. The ex-dividend date is Friday, September 13th. This represents a $0.96 annualized dividend and a dividend yield of 1.30%. Nasdaq’s payout ratio is 50.53%.

Insider Transactions at Nasdaq

In related news, major shareholder Seller Lp Argus sold 42,804,207 shares of the company’s 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 sale, the insider now directly owns 42,804,207 shares in the company, valued at $2,764,295,688.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.70% of the stock is owned by corporate insiders.

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.