Perennial Investment Advisors LLC Takes Position in Nasdaq, Inc. $NDAQ

Perennial Investment Advisors LLC bought a new position in Nasdaq, Inc. (NASDAQ:NDAQ) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,717 shares of the financial services provider’s stock, valued at approximately $243,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of NDAQ. Bruce G. Allen Investments LLC raised its stake in Nasdaq by 72.7% during the second quarter. Bruce G. Allen Investments LLC now owns 285 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 120 shares during the period. Access Investment Management LLC acquired a new stake in shares of Nasdaq during the 2nd quarter worth $28,000. CVA Family Office LLC boosted its holdings in Nasdaq by 137.4% in the second quarter. CVA Family Office LLC now owns 368 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 213 shares during the last quarter. Bayforest Capital Ltd acquired a new position in Nasdaq in the second quarter valued at $37,000. Finally, AlphaQuest LLC purchased a new stake in Nasdaq during the first quarter valued at about $34,000. Institutional investors and hedge funds own 72.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NDAQ. Piper Sandler lifted their price objective on Nasdaq from $97.00 to $104.00 and gave the company an “overweight” rating in a research note on Monday, August 4th. Raymond James Financial reaffirmed an “outperform” rating and set a $100.00 price target (up from $99.00) on shares of Nasdaq in a research report on Monday, October 13th. Keefe, Bruyette & Woods boosted their price objective on shares of Nasdaq from $103.00 to $104.00 and gave the stock an “outperform” rating in a research note on Friday, July 25th. Barclays set a $109.00 target price on shares of Nasdaq and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $108.00 price target on shares of Nasdaq in a research report on Thursday, October 9th. Fourteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $99.67.

Nasdaq Price Performance

Shares of NDAQ stock opened at $86.02 on Thursday. The firm has a fifty day simple moving average of $88.44 and a 200-day simple moving average of $88.85. The company has a market capitalization of $49.12 billion, a PE ratio of 30.72, a price-to-earnings-growth ratio of 1.79 and a beta of 0.98. Nasdaq, Inc. has a twelve month low of $64.84 and a twelve month high of $97.63. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.72.

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 analysts’ consensus estimates of $0.82 by $0.06. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.29 billion. Nasdaq had a net margin of 19.90% and a return on equity of 16.28%. The firm’s revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.74 EPS. Equities research analysts anticipate that Nasdaq, Inc. will post 3.18 earnings per share for the current fiscal year.

Nasdaq Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Friday, December 5th. Nasdaq’s dividend payout ratio (DPR) is 38.57%.

Insider Transactions at Nasdaq

In other news, EVP Jeremy Skule sold 2,105 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $85.40, for a total transaction of $179,767.00. Following the completion of the transaction, the executive vice president directly owned 84,974 shares in the company, valued at approximately $7,256,779.60. This represents a 2.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.70% of the stock is owned by corporate 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.