CIBC Asset Management Inc Grows Holdings in Nasdaq Inc (NASDAQ:NDAQ)

CIBC Asset Management Inc increased its position in shares of Nasdaq Inc (NASDAQ:NDAQ) by 1.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,616 shares of the financial services provider’s stock after buying an additional 164 shares during the period. CIBC Asset Management Inc’s holdings in Nasdaq were worth $1,388,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in NDAQ. Leavell Investment Management Inc. raised its holdings in shares of Nasdaq by 0.9% in the first quarter. Leavell Investment Management Inc. now owns 10,118 shares of the financial services provider’s stock valued at $961,000 after purchasing an additional 93 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Nasdaq by 2.5% in the second quarter. SG Americas Securities LLC now owns 3,961 shares of the financial services provider’s stock valued at $473,000 after purchasing an additional 97 shares during the last quarter. Shell Asset Management Co. raised its holdings in shares of Nasdaq by 1.5% in the first quarter. Shell Asset Management Co. now owns 6,624 shares of the financial services provider’s stock valued at $629,000 after purchasing an additional 100 shares during the last quarter. Cigna Investments Inc. New raised its holdings in shares of Nasdaq by 3.2% in the first quarter. Cigna Investments Inc. New now owns 3,235 shares of the financial services provider’s stock valued at $307,000 after purchasing an additional 100 shares during the last quarter. Finally, Greenwich Wealth Management LLC grew its stake in shares of Nasdaq by 0.7% in the first quarter. Greenwich Wealth Management LLC now owns 16,450 shares of the financial services provider’s stock valued at $1,562,000 after buying an additional 111 shares in the last quarter. 74.86% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts recently weighed in on the stock. Credit Suisse Group decreased their target price on shares of Nasdaq from $120.00 to $118.00 and set an “outperform” rating for the company in a research note on Tuesday, April 28th. Raymond James cut shares of Nasdaq from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 21st. They noted that the move was a valuation call. Deutsche Bank raised their target price on shares of Nasdaq from $133.00 to $143.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Bank of America raised their target price on shares of Nasdaq from $128.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Finally, Argus cut shares of Nasdaq from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a research note on Thursday, July 23rd. They noted that the move was a valuation call. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $126.09.

In other news, EVP Lars Ottersgard sold 3,500 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $119.82, for a total value of $419,370.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Bradley J. Peterson sold 3,000 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $118.42, for a total transaction of $355,260.00. The disclosure for this sale can be found here. In the last three months, insiders sold 11,026 shares of company stock valued at $1,325,472. 0.60% of the stock is currently owned by company insiders.

NDAQ stock opened at $131.31 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.11 and a quick ratio of 0.97. The company has a fifty day moving average price of $122.60 and a two-hundred day moving average price of $111.71. Nasdaq Inc has a one year low of $71.66 and a one year high of $135.51. The stock has a market cap of $21.54 billion, a price-to-earnings ratio of 27.47, a price-to-earnings-growth ratio of 2.61 and a beta of 0.74.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $1.54 EPS for the quarter, topping the Zacks’ consensus estimate of $1.45 by $0.09. The firm had revenue of $699.00 million during the quarter, compared to analysts’ expectations of $686.79 million. Nasdaq had a net margin of 16.21% and a return on equity of 16.89%. During the same period in the previous year, the business posted $1.22 earnings per share. Research analysts anticipate that Nasdaq Inc will post 5.86 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be given a $0.49 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 1.49%. Nasdaq’s payout ratio is presently 39.20%.

About Nasdaq

Nasdaq, Inc provides trading, clearing, marketplace technology, regulatory, securities listing, information, and public and private company services worldwide. The company's Market Services segment offers equity derivative trading and clearing; cash equity trading; fixed income and commodities trading and clearing; and trade management services.

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Institutional Ownership by Quarter for Nasdaq (NASDAQ:NDAQ)

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