Fortis Capital Advisors LLC Increases Stock Position in Nasdaq, Inc. (NASDAQ:NDAQ)

Fortis Capital Advisors LLC increased its position in Nasdaq, Inc. (NASDAQ:NDAQ) by 77.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,887 shares of the financial services provider’s stock after acquiring an additional 7,810 shares during the period. Fortis Capital Advisors LLC’s holdings in Nasdaq were worth $1,078,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Thoma Bravo L.P. purchased a new position in Nasdaq in the 4th quarter worth approximately $4,166,454,000. Vanguard Group Inc. raised its holdings 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 acquiring an additional 3,173,981 shares during the last quarter. Farallon Capital Management LLC raised its holdings in Nasdaq by 28.4% in the 1st quarter. Farallon Capital Management LLC now owns 8,436,719 shares of the financial services provider’s stock worth $532,357,000 after acquiring an additional 1,866,219 shares during the last quarter. Norges Bank purchased a new position in Nasdaq in the 4th quarter worth approximately $239,347,000. Finally, Bessemer Group Inc. raised its holdings in Nasdaq by 26.5% in the 1st quarter. Bessemer Group Inc. now owns 2,878,115 shares of the financial services provider’s stock worth $181,609,000 after acquiring an additional 602,040 shares during the last quarter. 72.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on NDAQ. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Nasdaq from $66.00 to $72.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Bank of America raised shares of Nasdaq from an “underperform” rating to a “buy” rating and lifted their target price for the stock from $53.00 to $90.00 in a research report on Wednesday. Keefe, Bruyette & Woods lifted their target price on shares of Nasdaq from $76.00 to $78.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Oppenheimer lifted their target price on shares of Nasdaq from $72.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Finally, Barclays lifted their target price on shares of Nasdaq from $74.00 to $77.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.69.

Insider Buying and Selling

In related news, major shareholder Seller Lp Argus sold 42,804,207 shares of the company’s stock in a transaction 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 owns 42,804,207 shares of the company’s stock, valued at approximately $2,764,295,688.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.70% of the stock is currently owned by insiders.

Nasdaq Trading Down 1.0 %

Shares of NDAQ stock opened at $71.39 on Wednesday. Nasdaq, Inc. has a 1 year low of $46.88 and a 1 year high of $72.14. The firm has a fifty day moving average price of $65.90 and a 200-day moving average price of $62.13. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market cap of $41.06 billion, a price-to-earnings ratio of 37.57, a PEG ratio of 3.06 and a beta of 0.94.

Nasdaq (NASDAQ:NDAQ) last issued its earnings results on Thursday, July 25th. The financial services provider reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.05. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. Nasdaq had a net margin of 14.43% and a return on equity of 15.45%. 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. As a group, equities analysts predict that Nasdaq, Inc. will post 2.74 earnings per share for the current year.

Nasdaq Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend is Friday, September 13th. Nasdaq’s dividend payout ratio is currently 50.53%.

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.