DekaBank Deutsche Girozentrale Cuts Holdings in Nasdaq, Inc. $NDAQ

DekaBank Deutsche Girozentrale lessened its stake in Nasdaq, Inc. (NASDAQ:NDAQ) by 19.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,422 shares of the financial services provider’s stock after selling 26,531 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Nasdaq were worth $9,846,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bruce G. Allen Investments LLC grew its stake 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 worth $25,000 after buying an additional 120 shares in the last quarter. First Command Advisory Services Inc. purchased a new position in Nasdaq in the 1st quarter worth approximately $30,000. Bayforest Capital Ltd purchased a new position in Nasdaq in the 2nd quarter worth approximately $37,000. AlphaQuest LLC purchased a new position in Nasdaq in the 1st quarter worth approximately $34,000. Finally, Olde Wealth Management LLC purchased a new stake in shares of Nasdaq in the 1st quarter valued at $40,000. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Nasdaq Trading Up 1.6%

Shares of NDAQ opened at $88.82 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.99 and a debt-to-equity ratio of 0.72. Nasdaq, Inc. has a twelve month low of $64.84 and a twelve month high of $97.63. The stock has a market capitalization of $50.96 billion, a P/E ratio of 31.72, a PEG ratio of 1.94 and a beta of 0.98. The firm has a fifty day simple moving average of $91.35 and a two-hundred day simple moving average of $86.80.

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 the consensus estimate of $0.82 by $0.06. Nasdaq had a net margin of 19.90% and a return on equity of 16.28%. The business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same period in the prior year, the business earned $0.74 EPS. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. On average, research analysts anticipate that Nasdaq, Inc. will post 3.18 EPS for the current year.

Nasdaq Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, December 5th. Nasdaq’s dividend payout ratio (DPR) is presently 41.54%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on NDAQ shares. Piper Sandler upped their price objective on shares of Nasdaq from $97.00 to $104.00 and gave the company an “overweight” rating in a research note on Monday, August 4th. TD Cowen upped their price objective on shares of Nasdaq from $94.00 to $96.00 and gave the company a “hold” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Nasdaq from $97.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, July 25th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Nasdaq in a research note on Friday, July 25th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $100.00 price objective (up previously from $99.00) on shares of Nasdaq in a research note on Monday, October 13th. Fifteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.56.

Insider Activity

In related news, EVP Jeremy Skule sold 2,105 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $95.49, for a total value of $201,006.45. Following the completion of the transaction, the executive vice president directly owned 92,551 shares in the company, valued at $8,837,694.99. This trade represents a 2.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is currently owned by insiders.

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.