Orrstown Financial Services Inc. lowered its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 24.0% during the second quarter, Holdings Channel reports. The firm owned 4,921 shares of the financial services provider’s stock after selling 1,550 shares during the period. Orrstown Financial Services Inc.’s holdings in Nasdaq were worth $352,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. increased its position in shares of Nasdaq by 3,831.1% in the first quarter. BlackRock Inc. now owns 9,546,334 shares of the financial services provider’s stock valued at $662,992,000 after buying an additional 9,303,493 shares during the period. NN Investment Partners Holdings N.V. increased its position in shares of Nasdaq by 26,658.6% in the second quarter. NN Investment Partners Holdings N.V. now owns 1,178,181 shares of the financial services provider’s stock valued at $84,227,000 after buying an additional 1,173,778 shares during the period. Vanguard Group Inc. increased its position in shares of Nasdaq by 3.8% in the first quarter. Vanguard Group Inc. now owns 11,262,495 shares of the financial services provider’s stock valued at $782,180,000 after buying an additional 416,910 shares during the period. Clearbridge Investments LLC increased its position in shares of Nasdaq by 13.1% in the first quarter. Clearbridge Investments LLC now owns 3,094,734 shares of the financial services provider’s stock valued at $214,929,000 after buying an additional 358,414 shares during the period. Finally, WINTON GROUP Ltd increased its position in shares of Nasdaq by 453.0% in the first quarter. WINTON GROUP Ltd now owns 396,932 shares of the financial services provider’s stock valued at $26,809,000 after buying an additional 325,148 shares during the period. Hedge funds and other institutional investors own 74.67% of the company’s stock.
Nasdaq, Inc. (NDAQ) traded up 0.61% on Monday, hitting $71.49. The stock had a trading volume of 902,121 shares. The company’s 50 day moving average price is $69.05 and its 200-day moving average price is $69.14. The company has a market cap of $11.81 billion, a price-to-earnings ratio of 83.32 and a beta of 0.75. Nasdaq, Inc. has a 12-month low of $63.30 and a 12-month high of $72.52.
Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings results on Wednesday, April 26th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.05. The business had revenue of $583 million for the quarter, compared to the consensus estimate of $593.46 million. Nasdaq had a return on equity of 11.77% and a net margin of 3.87%. The business’s revenue was up 9.2% on a year-over-year basis. During the same quarter last year, the business posted $0.91 EPS. Equities research analysts anticipate that Nasdaq, Inc. will post $4.11 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Friday, June 16th were given a $0.38 dividend. This is a boost from Nasdaq’s previous quarterly dividend of $0.32. This represents a $1.52 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend was Wednesday, June 14th. Nasdaq’s dividend payout ratio (DPR) is currently 183.13%.
Several equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Nasdaq from a “sell” rating to a “hold” rating in a report on Monday. Jefferies Group LLC reiterated a “hold” rating and set a $71.00 target price (up previously from $68.00) on shares of Nasdaq in a research report on Monday. BidaskClub lowered Nasdaq from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Citigroup Inc. assumed coverage on Nasdaq in a report on Wednesday, July 12th. They issued a “neutral” rating and a $72.00 price objective on the stock. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $74.00 price objective on shares of Nasdaq in a report on Tuesday, June 13th. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the company. Nasdaq has an average rating of “Hold” and an average target price of $74.00.
In related news, Director Lars Wedenborn sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 27th. The stock was sold at an average price of $68.38, for a total value of $683,800.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.60% of the stock is owned by company insiders.
Nasdaq Company Profile
Nasdaq, Inc (Nasdaq) is a holding company. The Company is a provider of trading, clearing, exchange technology, regulatory, securities listing, information and public company services. It manages, operates and provides its products and services through four segments: Market Services, Corporate Services, Information Services and Market Technology.
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