Paralel Advisors LLC Makes New $2.18 Million Investment in Nasdaq, Inc. (NASDAQ:NDAQ)

Paralel Advisors LLC bought a new position in Nasdaq, Inc. (NASDAQ:NDAQ) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 36,166 shares of the financial services provider’s stock, valued at approximately $2,179,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Thoma Bravo L.P. bought a new position in Nasdaq in the 4th quarter valued at approximately $4,166,454,000. Norges Bank bought a new stake in Nasdaq in the 4th quarter worth about $239,347,000. Vanguard Group Inc. raised its position in Nasdaq by 7.0% in the 1st quarter. Vanguard Group Inc. now owns 48,239,872 shares of the financial services provider’s stock worth $3,043,936,000 after buying an additional 3,173,981 shares during the last quarter. Farallon Capital Management LLC lifted its stake in Nasdaq by 28.4% during the 1st quarter. Farallon Capital Management LLC now owns 8,436,719 shares of the financial services provider’s stock valued at $532,357,000 after acquiring an additional 1,866,219 shares during the period. Finally, Bain Capital Public Equity Management II LLC purchased a new stake in shares of Nasdaq during the 4th quarter valued at about $96,241,000. 72.47% of the stock is currently owned by institutional investors.

Nasdaq Price Performance

Shares of Nasdaq stock traded down $1.45 during trading hours on Friday, hitting $71.95. The company’s stock had a trading volume of 3,970,651 shares, compared to its average volume of 2,927,106. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.94 and a current ratio of 0.94. Nasdaq, Inc. has a 12-month low of $46.88 and a 12-month high of $74.17. The business has a 50 day moving average price of $66.67 and a two-hundred day moving average price of $62.45. The company has a market cap of $41.39 billion, a PE ratio of 37.87, a PEG ratio of 3.06 and a beta of 0.95.

Nasdaq (NASDAQ:NDAQ) last released 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 company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. Nasdaq had a return on equity of 15.45% and a net margin of 14.43%. Nasdaq’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.71 EPS. Analysts expect that Nasdaq, Inc. will post 2.74 earnings per share for the current fiscal year.

Nasdaq Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.33%. Nasdaq’s dividend payout ratio is presently 50.53%.

Insider Activity at Nasdaq

In other Nasdaq news, major shareholder Seller Lp Argus sold 42,804,207 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 42,804,207 shares of the company’s stock, valued at $2,764,295,688.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

NDAQ has been the subject of several research reports. Bank of America raised shares of Nasdaq from an “underperform” rating to a “buy” rating and boosted their price objective for the company from $53.00 to $90.00 in a report on Wednesday. Barclays boosted their target price on shares of Nasdaq from $74.00 to $77.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft lifted 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. Argus upped their price objective on Nasdaq from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, May 14th. Finally, Oppenheimer raised their target price on Nasdaq from $72.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $71.69.

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.