Summit Investment Advisors Inc. Reduces Position in Nasdaq, Inc. (NASDAQ:NDAQ)

Summit Investment Advisors Inc. decreased its holdings in Nasdaq, Inc. (NASDAQ:NDAQ) by 1.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 27,017 shares of the financial services provider’s stock after selling 339 shares during the period. Summit Investment Advisors Inc.’s holdings in Nasdaq were worth $2,089,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new position in Nasdaq in the 4th quarter valued at approximately $424,285,000. Union Bancaire Privee UBP SA purchased a new position in shares of Nasdaq in the fourth quarter valued at $110,867,000. Raymond James Financial Inc. purchased a new position in shares of Nasdaq in the fourth quarter valued at $105,481,000. Franklin Resources Inc. raised its stake in shares of Nasdaq by 13.4% during the 4th quarter. Franklin Resources Inc. now owns 10,379,012 shares of the financial services provider’s stock valued at $802,401,000 after purchasing an additional 1,225,672 shares during the period. Finally, Invesco Ltd. lifted its holdings in Nasdaq by 40.3% during the 4th quarter. Invesco Ltd. now owns 3,902,214 shares of the financial services provider’s stock worth $301,680,000 after purchasing an additional 1,120,538 shares in the last quarter. Institutional investors own 72.47% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on NDAQ shares. UBS Group lifted their target price on Nasdaq from $79.00 to $89.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $95.00 target price on shares of Nasdaq in a report on Thursday, April 10th. Oppenheimer cut their price target on shares of Nasdaq from $89.00 to $85.00 and set an “outperform” rating for the company in a report on Friday. JPMorgan Chase & Co. upped their price target on shares of Nasdaq from $88.00 to $95.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Finally, Piper Sandler lifted their price objective on Nasdaq from $80.00 to $83.00 and gave the company an “overweight” rating in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.56.

Insiders Place Their Bets

In other news, EVP Sarah Youngwood sold 14,959 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $73.68, for a total transaction of $1,102,179.12. Following the completion of the sale, the executive vice president now owns 59,694 shares of the company’s stock, valued at $4,398,253.92. This represents a 20.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Bryan Everard Smith sold 657 shares of the firm’s stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $71.81, for a total transaction of $47,179.17. Following the completion of the transaction, the executive vice president now directly owns 61,980 shares in the company, valued at approximately $4,450,783.80. The trade was a 1.05 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,116 shares of company stock valued at $1,434,818. Corporate insiders own 0.70% of the company’s stock.

Nasdaq Stock Performance

Shares of NDAQ stock opened at $72.78 on Tuesday. The firm has a market capitalization of $41.86 billion, a price-to-earnings ratio of 37.91, a PEG ratio of 2.12 and a beta of 1.02. The stock has a fifty day moving average of $76.60 and a 200 day moving average of $77.46. Nasdaq, Inc. has a 52 week low of $58.10 and a 52 week high of $84.15. The company has a quick ratio of 0.95, a current ratio of 0.99 and a debt-to-equity ratio of 0.81.

Nasdaq (NASDAQ:NDAQ) last announced its earnings results on Wednesday, January 29th. The financial services provider reported $0.76 EPS for the quarter, beating analysts’ consensus estimates 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, research analysts expect that Nasdaq, Inc. will post 3.18 earnings per share for the current year.

Nasdaq Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $0.24 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a yield of 1.32%. Nasdaq’s payout ratio is currently 50.00%.

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.