Otter Creek Advisors LLC Buys Shares of 70,462 Nasdaq, Inc. (NASDAQ:NDAQ)

Otter Creek Advisors LLC purchased a new position in Nasdaq, Inc. (NASDAQ:NDAQ) during the fourth quarter, HoldingsChannel reports. The firm purchased 70,462 shares of the financial services provider’s stock, valued at approximately $5,447,000. Nasdaq makes up about 3.7% of Otter Creek Advisors LLC’s investment portfolio, making the stock its 4th largest position.

Several other large investors also recently modified their holdings of NDAQ. Olstein Capital Management L.P. increased its holdings in Nasdaq by 35.6% during the fourth quarter. Olstein Capital Management L.P. now owns 80,000 shares of the financial services provider’s stock valued at $6,185,000 after buying an additional 21,000 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of Nasdaq by 75.7% in the 4th quarter. Pacer Advisors Inc. now owns 53,933 shares of the financial services provider’s stock worth $4,170,000 after purchasing an additional 23,244 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Nasdaq by 26.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 44,173 shares of the financial services provider’s stock worth $3,454,000 after purchasing an additional 9,130 shares during the period. USA Financial Formulas bought a new position in Nasdaq in the 4th quarter worth $856,000. Finally, Nomura Asset Management Co. Ltd. lifted its position in Nasdaq by 49.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 164,179 shares of the financial services provider’s stock valued at $11,987,000 after purchasing an additional 54,594 shares in the last quarter. Institutional investors own 72.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on NDAQ shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $95.00 price objective on shares of Nasdaq in a research note on Thursday, January 30th. Deutsche Bank Aktiengesellschaft raised shares of Nasdaq from a “hold” rating to a “buy” rating and lifted their price target for the company from $80.00 to $98.00 in a report on Wednesday, January 8th. William Blair assumed coverage on shares of Nasdaq in a research note on Monday, November 25th. They issued an “outperform” rating for the company. UBS Group lifted their target price on shares of Nasdaq from $79.00 to $89.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Finally, Barclays cut their price target on Nasdaq from $96.00 to $95.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $86.88.

Insiders Place Their Bets

In related news, EVP Bryan Everard Smith sold 3,500 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $81.56, for a total value of $285,460.00. Following the transaction, the executive vice president now owns 55,576 shares of the company’s stock, valued at $4,532,778.56. This trade represents a 5.92 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.70% of the company’s stock.

Nasdaq Trading Up 0.6 %

NDAQ stock opened at $80.04 on Thursday. Nasdaq, Inc. has a twelve month low of $55.51 and a twelve month high of $84.15. The stock has a market capitalization of $46.00 billion, a price-to-earnings ratio of 41.69, a price-to-earnings-growth ratio of 2.12 and a beta of 0.99. 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 firm’s fifty day simple moving average is $79.67 and its two-hundred day simple moving average is $76.74.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.02. Nasdaq had a net margin of 15.10% and a return on equity of 14.82%. As a group, analysts anticipate that Nasdaq, Inc. will post 3.18 earnings per share for the current year.

Nasdaq Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.20%. The ex-dividend date is Friday, March 14th. Nasdaq’s dividend payout ratio (DPR) is presently 50.00%.

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.