Sompo Asset Management Co. Ltd. Increases Stock Holdings in Nasdaq, Inc. (NASDAQ:NDAQ)

Sompo Asset Management Co. Ltd. grew its position in Nasdaq, Inc. (NASDAQ:NDAQ) by 52.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,670 shares of the financial services provider’s stock after acquiring an additional 5,040 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Nasdaq were worth $884,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NDAQ. Thoma Bravo L.P. purchased a new position in Nasdaq during the 4th quarter valued at about $4,166,454,000. Vanguard Group Inc. boosted its position in shares of Nasdaq by 7.0% in the 1st quarter. Vanguard Group Inc. now owns 48,239,872 shares of the financial services provider’s stock valued at $3,043,936,000 after purchasing an additional 3,173,981 shares during the period. Farallon Capital Management LLC grew its position in shares of Nasdaq by 28.4% during the first quarter. Farallon Capital Management LLC now owns 8,436,719 shares of the financial services provider’s stock worth $532,357,000 after acquiring an additional 1,866,219 shares during the last quarter. Bain Capital Public Equity Management II LLC acquired a new position in Nasdaq in the fourth quarter valued at $96,241,000. Finally, CANADA LIFE ASSURANCE Co raised its stake in Nasdaq by 283.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 1,154,143 shares of the financial services provider’s stock valued at $72,880,000 after acquiring an additional 853,414 shares during the last quarter. 72.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NDAQ has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised their target price on shares of Nasdaq from $76.00 to $78.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Nasdaq from $66.00 to $72.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Barclays raised their price target on Nasdaq from $74.00 to $77.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Oppenheimer upped their price objective 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. Finally, Bank of America raised 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 note on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $72.08.

Nasdaq Price Performance

Shares of Nasdaq stock opened at $74.29 on Friday. The business’s 50 day simple moving average is $69.08 and its 200-day simple moving average is $63.54. The stock has a market capitalization of $42.73 billion, a price-to-earnings ratio of 39.10, a PEG ratio of 2.97 and a beta of 0.95. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.85. Nasdaq, Inc. has a twelve month low of $46.88 and a twelve month high of $74.68.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.69 EPS for the quarter, beating 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 return on equity of 15.45% and a net margin of 14.43%. The company’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same period last year, the company earned $0.71 earnings per share. Equities research analysts forecast that Nasdaq, Inc. will post 2.74 earnings per share for the current year.

Nasdaq Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.96 annualized dividend and a yield of 1.29%. Nasdaq’s payout ratio is 50.53%.

Insiders Place Their Bets

In other news, major shareholder Seller Lp Argus sold 42,804,207 shares of Nasdaq stock in a transaction on Monday, July 29th. The stock was sold at an average price of $64.58, for a total transaction of $2,764,295,688.06. Following the transaction, the insider now directly owns 42,804,207 shares in the company, valued at approximately $2,764,295,688.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.70% of the stock is currently owned by 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.