Fortis Capital Advisors LLC Grows Stock Holdings in Nasdaq, Inc. (NASDAQ:NDAQ)

Fortis Capital Advisors LLC raised its stake in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 77.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 17,887 shares of the financial services provider's stock after purchasing an additional 7,810 shares during the quarter. Fortis Capital Advisors LLC's holdings in Nasdaq were worth $1,078,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NDAQ. Thoma Bravo L.P. bought a new stake in Nasdaq during the 4th quarter valued at $4,166,454,000. Vanguard Group Inc. raised its stake in shares of Nasdaq by 7.0% during the first quarter. Vanguard Group Inc. now owns 48,239,872 shares of the financial services provider's stock valued at $3,043,936,000 after acquiring an additional 3,173,981 shares during the last quarter. Farallon Capital Management LLC boosted its holdings in shares of Nasdaq by 28.4% during the first quarter. Farallon Capital Management LLC now owns 8,436,719 shares of the financial services provider's stock worth $532,357,000 after purchasing an additional 1,866,219 shares during the period. Norges Bank bought a new stake in shares of Nasdaq in the fourth quarter worth about $239,347,000. Finally, Bessemer Group Inc. increased its holdings in Nasdaq by 26.5% during the 1st quarter. Bessemer Group Inc. now owns 2,878,115 shares of the financial services provider's stock valued at $181,609,000 after purchasing an additional 602,040 shares during the period. Institutional investors own 72.47% of the company's stock.

Insider Transactions at Nasdaq

In related 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 directly owns 42,804,207 shares in the company, valued at approximately $2,764,295,688.06. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.70% of the company's stock.

Analyst Upgrades and Downgrades

NDAQ has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft increased their price objective on Nasdaq from $66.00 to $72.00 and gave the stock a "hold" rating in a report on Thursday, August 15th. Rosenblatt Securities cut shares of Nasdaq from a "buy" rating to a "neutral" rating and cut their price target for the company from $76.00 to $64.00 in a report on Wednesday, May 8th. Barclays upped their price objective on shares of Nasdaq from $74.00 to $77.00 and gave the stock an "overweight" rating in a report on Friday, July 26th. Argus lifted their target price on shares of Nasdaq from $64.00 to $66.00 and gave the company a "buy" rating in a research note on Tuesday, May 14th. Finally, Bank of America raised shares of Nasdaq from an "underperform" rating to a "buy" rating and increased their price target for the stock from $53.00 to $90.00 in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $71.69.

Nasdaq Stock Up 2.9 %

NDAQ stock traded up $2.09 on Wednesday, reaching $73.48. 3,295,205 shares of the company traded hands, compared to its average volume of 2,925,717. The firm has a fifty day simple moving average of $65.90 and a 200-day simple moving average of $62.13. The company has a market cap of $42.27 billion, a P/E ratio of 37.57, a price-to-earnings-growth ratio of 3.06 and a beta of 0.94. Nasdaq, Inc. has a one year low of $46.88 and a one year high of $74.17. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.94 and a quick ratio of 0.94.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.05. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. Nasdaq had a return on equity of 15.45% and a net margin of 14.43%. The company's revenue was up 25.3% on a year-over-year basis. During the same period last year, the company earned $0.71 earnings per share. Research analysts anticipate that Nasdaq, Inc. will post 2.74 earnings per share for the current year.

Nasdaq Dividend Announcement

The company also recently announced 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 yield of 1.31%. Nasdaq's dividend payout ratio (DPR) is presently 50.53%.

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.