Commonwealth Equity Services LLC Raises Position in Nasdaq Inc (NDAQ)

Commonwealth Equity Services LLC raised its holdings in shares of Nasdaq Inc (NASDAQ:NDAQ) by 5.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,599 shares of the financial services provider’s stock after acquiring an additional 412 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Nasdaq were worth $701,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. AlphaCrest Capital Management LLC acquired a new stake in Nasdaq in the 4th quarter worth approximately $390,000. Bank of Nova Scotia lifted its holdings in shares of Nasdaq by 5.4% during the fourth quarter. Bank of Nova Scotia now owns 24,776 shares of the financial services provider’s stock worth $2,021,000 after buying an additional 1,277 shares during the last quarter. Raymond James & Associates lifted its holdings in shares of Nasdaq by 1.4% during the fourth quarter. Raymond James & Associates now owns 181,113 shares of the financial services provider’s stock worth $14,773,000 after buying an additional 2,577 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its holdings in shares of Nasdaq by 9.3% during the fourth quarter. Los Angeles Capital Management & Equity Research Inc. now owns 4,742 shares of the financial services provider’s stock worth $387,000 after buying an additional 403 shares during the last quarter. Finally, Bremer Trust National Association acquired a new position in shares of Nasdaq during the fourth quarter worth approximately $106,000. 76.14% of the stock is owned by institutional investors and hedge funds.

Shares of NDAQ traded up $0.67 during trading hours on Monday, hitting $88.47. 318,383 shares of the stock traded hands, compared to its average volume of 835,583. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.54. Nasdaq Inc has a 1-year low of $75.49 and a 1-year high of $96.84. The firm has a market capitalization of $14.63 billion, a PE ratio of 18.28, a price-to-earnings-growth ratio of 2.18 and a beta of 0.63.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings results on Wednesday, January 30th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.02. Nasdaq had a return on equity of 14.53% and a net margin of 10.71%. The business had revenue of $645.00 million for the quarter, compared to analyst estimates of $642.95 million. During the same quarter in the prior year, the firm posted $1.05 earnings per share. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. Analysts anticipate that Nasdaq Inc will post 4.98 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend was Thursday, March 14th. Nasdaq’s payout ratio is 36.36%.

A number of brokerages have recently commented on NDAQ. BidaskClub upgraded Nasdaq from a “hold” rating to a “buy” rating in a report on Thursday, February 28th. Raymond James cut their target price on Nasdaq from $97.00 to $96.00 and set an “outperform” rating for the company in a research note on Tuesday, March 5th. Zacks Investment Research lowered Nasdaq from a “hold” rating to a “sell” rating in a research note on Wednesday, April 3rd. Finally, Argus began coverage on Nasdaq in a research report on Wednesday, February 6th. They issued a “buy” rating and a $97.00 price target on the stock. Two analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. Nasdaq currently has a consensus rating of “Hold” and an average target price of $96.43.

In other news, EVP Thomas A. Wittman sold 13,561 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $88.04, for a total transaction of $1,193,910.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Pc Nelson Griggs sold 1,339 shares of the firm’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $90.24, for a total value of $120,831.36. The disclosure for this sale can be found here. Insiders sold 21,059 shares of company stock worth $1,841,213 in the last three months. Insiders own 0.50% of the company’s stock.

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Nasdaq Company Profile

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.

Further Reading: Dollar Cost Averaging

Institutional Ownership by Quarter for Nasdaq (NASDAQ:NDAQ)

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