Commerce Bank Sells 9,313 Shares of Nasdaq, Inc. (NASDAQ:NDAQ)

Commerce Bank lowered its holdings in Nasdaq, Inc. (NASDAQ:NDAQ) by 2.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 356,794 shares of the financial services provider’s stock after selling 9,313 shares during the period. Commerce Bank owned about 0.06% of Nasdaq worth $20,744,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. The Manufacturers Life Insurance Company grew its position in shares of Nasdaq by 214.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 6,281,617 shares of the financial services provider’s stock valued at $305,224,000 after acquiring an additional 4,280,846 shares during the period. Ameriprise Financial Inc. grew its position in shares of Nasdaq by 16.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,787,784 shares of the financial services provider’s stock valued at $232,564,000 after acquiring an additional 681,238 shares during the period. Norges Bank acquired a new stake in shares of Nasdaq during the 4th quarter worth about $239,347,000. Northern Trust Corp lifted its stake in shares of Nasdaq by 5.4% during the 3rd quarter. Northern Trust Corp now owns 3,363,894 shares of the financial services provider’s stock worth $163,452,000 after buying an additional 171,959 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Nasdaq by 16.7% during the 3rd quarter. Invesco Ltd. now owns 2,654,180 shares of the financial services provider’s stock worth $128,967,000 after buying an additional 378,936 shares during the last quarter. Institutional investors own 72.47% of the company’s stock.

Nasdaq Price Performance

Shares of Nasdaq stock traded up $0.78 during midday trading on Friday, hitting $62.30. 437,512 shares of the company traded hands, compared to its average volume of 3,021,419. The stock has a market cap of $35.84 billion, a price-to-earnings ratio of 32.38, a PEG ratio of 3.39 and a beta of 0.94. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.99 and a current ratio of 0.99. The firm’s fifty day moving average price is $61.32 and its 200-day moving average price is $57.95. Nasdaq, Inc. has a 12 month low of $46.88 and a 12 month high of $64.25.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.02). The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. Nasdaq had a net margin of 15.98% and a return on equity of 17.00%. The company’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same period last year, the firm posted $0.69 earnings per share. As a group, sell-side analysts forecast that Nasdaq, Inc. will post 2.68 earnings per share for the current year.

Nasdaq Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a dividend of $0.24 per share. The ex-dividend date is Friday, June 14th. This is a positive change from Nasdaq’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 1.54%. Nasdaq’s payout ratio is 46.32%.

Insiders Place Their Bets

In other Nasdaq news, EVP Bryan Everard Smith sold 3,036 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $59.89, for a total transaction of $181,826.04. Following the sale, the executive vice president now directly owns 58,636 shares of the company’s stock, valued at approximately $3,511,710.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, major shareholder Dubai Ltd Borse sold 31,000,000 shares of the company’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $58.00, for a total value of $1,798,000,000.00. Following the sale, the insider now directly owns 58,341,545 shares of the company’s stock, valued at approximately $3,383,809,610. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Bryan Everard Smith sold 3,036 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $59.89, for a total transaction of $181,826.04. Following the completion of the sale, the executive vice president now directly owns 58,636 shares in the company, valued at $3,511,710.04. The disclosure for this sale can be found here. Insiders have sold 31,010,436 shares of company stock valued at $1,798,647,360 in the last ninety days. 0.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on NDAQ. Piper Sandler raised their target price on shares of Nasdaq from $70.00 to $71.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Oppenheimer raised their target price on shares of Nasdaq from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Barclays cut their target price on shares of Nasdaq from $76.00 to $73.00 and set an “overweight” rating for the company in a research note on Friday, April 26th. Argus raised their target price on shares of Nasdaq from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, May 14th. Finally, Edward Jones initiated coverage on shares of Nasdaq in a research note on Wednesday, April 3rd. They issued a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $65.92.

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.