Orrstown Financial Services Inc. reduced its position in Nasdaq, Inc. (NASDAQ:NDAQ) by 24.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 reporting period.
A number of other institutional investors also recently made changes to their positions in NDAQ. Tompkins Financial Corp acquired a new stake in Nasdaq during the first quarter worth approximately $143,000. Pacer Advisors Inc. boosted its stake in shares of Nasdaq by 3.4% in the first quarter. Pacer Advisors Inc. now owns 2,365 shares of the financial services provider’s stock worth $164,000 after buying an additional 77 shares during the last quarter. Advisory Services Network LLC purchased a new stake in shares of Nasdaq during the first quarter worth $189,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Nasdaq during the first quarter worth $190,000. Finally, Mn Services Vermogensbeheer B.V. boosted its stake in shares of Nasdaq by 5.5% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,091 shares of the financial services provider’s stock worth $201,000 after buying an additional 161 shares during the last quarter. Hedge funds and other institutional investors own 75.59% of the company’s stock.
Shares of Nasdaq, Inc. (NDAQ) opened at 75.50 on Friday. The firm has a market cap of $12.59 billion, a PE ratio of 57.37 and a beta of 0.76. The company has a 50 day moving average price of $72.81 and a 200-day moving average price of $70.29. Nasdaq, Inc. has a 12-month low of $63.30 and a 12-month high of $76.79.
Nasdaq (NASDAQ:NDAQ) last posted its earnings results on Wednesday, July 26th. The financial services provider reported $1.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.06. The company had revenue of $602 million for the quarter, compared to analyst estimates of $596.55 million. Nasdaq had a net margin of 5.76% and a return on equity of 12.19%. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the business posted $0.91 earnings per share. Analysts expect that Nasdaq, Inc. will post $4.18 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.52 annualized dividend and a yield of 2.01%. Nasdaq’s dividend payout ratio (DPR) is presently 118.75%.
Several research analysts have recently issued reports on the company. UBS AG reissued a “buy” rating and issued a $81.00 target price (down from $85.00) on shares of Nasdaq in a report on Friday, April 28th. BidaskClub downgraded Nasdaq from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $76.00 target price (up from $74.00) on shares of Nasdaq in a report on Thursday, July 27th. Evercore ISI reaffirmed an “in-line” rating and set a $74.00 price objective on shares of Nasdaq in a research note on Friday, April 28th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $71.00 price objective (up from $68.00) on shares of Nasdaq in a research note on Monday, July 17th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $75.22.
In related news, insider Edward S. Knight sold 15,000 shares of the firm’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $74.39, for a total value of $1,115,850.00. Following the completion of the transaction, the insider now owns 78,063 shares of the company’s stock, valued at $5,807,106.57. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.60% of the company’s stock.
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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