CIBC Asset Management Inc Raises Holdings in Nasdaq, Inc. (NASDAQ:NDAQ)

CIBC Asset Management Inc raised its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 4.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 67,823 shares of the financial services provider’s stock after acquiring an additional 2,951 shares during the quarter. CIBC Asset Management Inc’s holdings in Nasdaq were worth $5,243,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Wellington Management Group LLP boosted its stake in shares of Nasdaq by 163.3% in the 3rd quarter. Wellington Management Group LLP now owns 38,833,510 shares of the financial services provider’s stock worth $2,835,235,000 after buying an additional 24,084,154 shares during the last quarter. State Street Corp boosted its stake in shares of Nasdaq by 11.2% in the 3rd quarter. State Street Corp now owns 17,951,698 shares of the financial services provider’s stock worth $1,310,653,000 after buying an additional 1,811,616 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Nasdaq by 9.5% in the 3rd quarter. Geode Capital Management LLC now owns 10,761,240 shares of the financial services provider’s stock worth $783,181,000 after buying an additional 932,665 shares during the last quarter. Harris Associates L P boosted its stake in shares of Nasdaq by 14.6% in the 3rd quarter. Harris Associates L P now owns 8,596,022 shares of the financial services provider’s stock worth $627,596,000 after buying an additional 1,096,090 shares during the last quarter. Finally, Mizuho Securities USA LLC boosted its stake in shares of Nasdaq by 13,532.3% in the 3rd quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the financial services provider’s stock worth $292,040,000 after buying an additional 3,970,658 shares during the last quarter. 72.47% of the stock is currently owned by hedge funds and other institutional investors.

Nasdaq Price Performance

NASDAQ:NDAQ opened at $82.59 on Thursday. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 0.81. The business’s 50-day simple moving average is $79.58 and its two-hundred day simple moving average is $76.26. The stock has a market cap of $47.47 billion, a PE ratio of 43.02, a P/E/G ratio of 2.08 and a beta of 0.99. Nasdaq, Inc. has a 52 week low of $54.90 and a 52 week high of $84.15.

Nasdaq (NASDAQ:NDAQ) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. Nasdaq had a return on equity of 14.82% and a net margin of 15.10%. As a group, analysts forecast that Nasdaq, Inc. will post 3.17 EPS for the current fiscal year.

Nasdaq Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a $0.24 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.16%. Nasdaq’s dividend payout ratio is currently 50.00%.

Insider Buying and Selling

In other Nasdaq news, EVP Bryan Everard Smith sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $81.56, for a total transaction of $285,460.00. Following the sale, the executive vice president now directly owns 55,576 shares of the company’s stock, valued at $4,532,778.56. The trade was a 5.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Morgan Stanley raised their price target on Nasdaq from $92.00 to $93.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Oppenheimer raised their price target on Nasdaq from $86.00 to $89.00 and gave the stock an “outperform” rating in a research note on Monday, January 13th. JPMorgan Chase & Co. raised their target price on Nasdaq from $88.00 to $95.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Keefe, Bruyette & Woods raised their target price on Nasdaq from $86.00 to $91.00 and gave the stock an “outperform” rating in a report on Friday, December 20th. Finally, Barclays decreased their target price on Nasdaq from $96.00 to $95.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $86.88.

About Nasdaq

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.