Frontier Capital Management Co. LLC increased its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 1.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,249,927 shares of the financial services provider’s stock after purchasing an additional 16,264 shares during the quarter. Frontier Capital Management Co. LLC owned 0.75% of Nasdaq worth $96,957,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Canada Pension Plan Investment Board increased its stake in Nasdaq by 138,888.9% during the 3rd quarter. Canada Pension Plan Investment Board now owns 100,072 shares of the financial services provider’s stock worth $7,763,000 after purchasing an additional 100,000 shares in the last quarter. BP PLC bought a new stake in Nasdaq during the 3rd quarter worth approximately $1,086,000. Westpac Banking Corp increased its stake in Nasdaq by 921.4% during the 3rd quarter. Westpac Banking Corp now owns 81,485 shares of the financial services provider’s stock worth $6,321,000 after purchasing an additional 73,507 shares in the last quarter. Conning Inc. bought a new stake in Nasdaq during the 3rd quarter worth approximately $200,000. Finally, Crossmark Global Holdings Inc. bought a new stake in Nasdaq during the 3rd quarter worth approximately $901,000. 74.77% of the stock is owned by institutional investors and hedge funds.
Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.04. The business had revenue of $607.00 million during the quarter, compared to the consensus estimate of $599.84 million. Nasdaq had a return on equity of 12.69% and a net margin of 6.72%. Nasdaq’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.91 earnings per share.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.52 annualized dividend and a dividend yield of 2.08%. Nasdaq’s payout ratio is 100.00%.
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In other news, insider Bjorn Sibbern sold 3,000 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $76.17, for a total transaction of $228,510.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ann M. Dennison sold 1,170 shares of the stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $76.32, for a total value of $89,294.40. The disclosure for this sale can be found here. Insiders have sold a total of 21,844 shares of company stock valued at $1,672,250 in the last quarter. 1.60% of the stock is owned by corporate insiders.
A number of research firms recently issued reports on NDAQ. BidaskClub cut Nasdaq from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Citigroup Inc. began coverage on shares of Nasdaq in a research note on Wednesday, July 12th. They set a “neutral” rating and a $72.00 price target for the company. Zacks Investment Research raised shares of Nasdaq from a “sell” rating to a “hold” rating in a research note on Monday, July 17th. Bank of America Corporation cut shares of Nasdaq from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $77.00 to $75.00 in a research note on Monday, October 9th. Finally, UBS AG reaffirmed a “buy” rating and set a $85.00 price target (up from $80.00) on shares of Nasdaq in a research note on Thursday, July 27th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. Nasdaq currently has an average rating of “Hold” and an average price target of $77.40.
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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