Mackenzie Financial Corp Boosts Stock Position in Nasdaq, Inc. $NDAQ

Mackenzie Financial Corp boosted its position in Nasdaq, Inc. (NASDAQ:NDAQ) by 84.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 432,074 shares of the financial services provider’s stock after purchasing an additional 198,045 shares during the quarter. Mackenzie Financial Corp’s holdings in Nasdaq were worth $38,217,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cary Street Partners Investment Advisory LLC boosted its stake in shares of Nasdaq by 2.3% during the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 4,935 shares of the financial services provider’s stock worth $441,000 after purchasing an additional 110 shares during the last quarter. Advisors Capital Management LLC raised its position in shares of Nasdaq by 3.4% in the second quarter. Advisors Capital Management LLC now owns 3,968 shares of the financial services provider’s stock valued at $355,000 after buying an additional 129 shares during the last quarter. PDS Planning Inc raised its position in shares of Nasdaq by 4.9% in the third quarter. PDS Planning Inc now owns 2,830 shares of the financial services provider’s stock valued at $250,000 after buying an additional 133 shares during the last quarter. Dynamic Advisor Solutions LLC lifted its stake in shares of Nasdaq by 4.6% during the third quarter. Dynamic Advisor Solutions LLC now owns 3,139 shares of the financial services provider’s stock valued at $278,000 after buying an additional 139 shares during the period. Finally, Mather Group LLC. lifted its stake in shares of Nasdaq by 3.3% during the third quarter. Mather Group LLC. now owns 4,380 shares of the financial services provider’s stock valued at $387,000 after buying an additional 139 shares during the period. 72.47% of the stock is currently owned by hedge funds and other institutional investors.

Nasdaq Price Performance

Nasdaq stock opened at $84.06 on Friday. Nasdaq, Inc. has a 1 year low of $64.84 and a 1 year high of $101.79. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a 50 day moving average price of $90.85 and a 200 day moving average price of $90.80. The company has a market cap of $47.78 billion, a price-to-earnings ratio of 27.20, a PEG ratio of 1.57 and a beta of 1.03.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. The company had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $1.37 billion. Nasdaq had a net margin of 21.77% and a return on equity of 16.90%. Nasdaq’s revenue was up 13.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.76 earnings per share. Sell-side analysts predict that Nasdaq, Inc. will post 3.18 earnings per share for the current year.

Nasdaq Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 16th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Monday, March 16th. Nasdaq’s dividend payout ratio (DPR) is 34.95%.

Insiders Place Their Bets

In other Nasdaq news, CEO Adena T. Friedman sold 300,000 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $96.91, for a total transaction of $29,073,000.00. Following the completion of the sale, the chief executive officer owned 1,924,903 shares of the company’s stock, valued at approximately $186,542,349.73. The trade was a 13.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John Zecca sold 4,500 shares of the company’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $100.01, for a total value of $450,045.00. Following the sale, the executive vice president owned 125,674 shares of the company’s stock, valued at $12,568,656.74. This represents a 3.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 697,340 shares of company stock worth $66,803,072 in the last quarter. 0.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

NDAQ has been the topic of a number of analyst reports. UBS Group restated a “buy” rating and set a $120.00 target price (up from $115.00) on shares of Nasdaq in a research report on Monday, January 12th. Argus upgraded Nasdaq to a “strong-buy” rating in a report on Wednesday, February 11th. Weiss Ratings reissued a “buy (b-)” rating on shares of Nasdaq in a research note on Friday, January 9th. JPMorgan Chase & Co. raised their price objective on Nasdaq from $100.00 to $101.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Finally, Barclays reaffirmed an “overweight” rating and issued a $115.00 price objective (up from $114.00) on shares of Nasdaq in a research report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $103.80.

Nasdaq Company Profile

Nasdaq, Inc is a global financial technology company that operates one of the world’s leading electronic securities exchanges and provides a broad array of products and services to capital markets participants. Its core activities include operating the Nasdaq Stock Market and other trading venues, developing and supplying market technology and matching engines to exchanges and trading firms, licensing market data and indices, and offering clearing, trade execution and post-trade solutions. The company also provides market surveillance, risk management and regulatory technology used by exchanges and regulators.

Founded in 1971 by the National Association of Securities Dealers (NASD) as the first electronic stock market, Nasdaq has evolved into a diversified marketplace and technology provider.