Sumitomo Mitsui DS Asset Management Company Ltd Grows Stock Position in Nasdaq, Inc. (NASDAQ:NDAQ)

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 15.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,057 shares of the financial services provider's stock after acquiring an additional 7,307 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Nasdaq were worth $3,318,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of NDAQ. Hobbs Group Advisors LLC bought a new stake in Nasdaq during the 2nd quarter worth approximately $26,000. Salem Investment Counselors Inc. grew its holdings in Nasdaq by 89.3% during the first quarter. Salem Investment Counselors Inc. now owns 426 shares of the financial services provider's stock worth $27,000 after buying an additional 201 shares in the last quarter. Crewe Advisors LLC raised its position in Nasdaq by 164.4% in the 2nd quarter. Crewe Advisors LLC now owns 505 shares of the financial services provider's stock valued at $30,000 after buying an additional 314 shares during the last quarter. LRI Investments LLC bought a new position in Nasdaq during the 1st quarter valued at $31,000. Finally, New Millennium Group LLC bought a new position in Nasdaq during the 2nd quarter valued at $34,000. 72.47% of the stock is owned by institutional investors and hedge funds.

Nasdaq Price Performance

Shares of NDAQ stock traded up $0.89 during trading hours on Friday, reaching $72.08. The stock had a trading volume of 3,073,749 shares, compared to its average volume of 2,927,436. The stock's fifty day simple moving average is $65.43 and its 200 day simple moving average is $61.81. The firm has a market capitalization of $41.46 billion, a PE ratio of 37.94, a PEG ratio of 2.72 and a beta of 0.94. Nasdaq, Inc. has a 12 month low of $46.88 and a 12 month high of $72.14. The company has a current ratio of 0.94, a quick ratio of 0.99 and a debt-to-equity ratio of 0.85.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.69 EPS for the quarter, beating analysts' consensus estimates of $0.64 by $0.05. Nasdaq had a net margin of 14.43% and a return on equity of 15.45%. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same period in the previous year, the business earned $0.71 EPS. The business's revenue for the quarter was up 25.3% on a year-over-year basis. On average, equities research analysts predict that Nasdaq, Inc. will post 2.73 EPS for the current year.

Nasdaq Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.96 annualized dividend and a dividend yield of 1.33%. Nasdaq's payout ratio is currently 50.53%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Oppenheimer increased their target price on shares of Nasdaq from $72.00 to $75.00 and gave the company an "outperform" rating in a report on Friday, July 26th. Rosenblatt Securities lowered shares of Nasdaq from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $76.00 to $64.00 in a research note on Wednesday, May 8th. Keefe, Bruyette & Woods boosted their target price on Nasdaq from $76.00 to $78.00 and gave the stock an "outperform" rating in a research note on Friday, July 26th. Barclays increased their price target on Nasdaq from $74.00 to $77.00 and gave the company an "overweight" rating in a research report on Friday, July 26th. Finally, Argus lifted their price objective on Nasdaq from $64.00 to $66.00 and gave the stock a "buy" rating in a report on Tuesday, May 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $68.54.

Insider Activity

In other Nasdaq news, major shareholder Seller Lp Argus sold 42,804,207 shares of the business's stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $64.58, for a total value of $2,764,295,688.06. Following the completion of the transaction, the insider now owns 42,804,207 shares of the company's stock, valued at approximately $2,764,295,688.06. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.70% of the company's stock.

Nasdaq Company 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.