Connor Clark & Lunn Investment Management Ltd. Acquires New Position in Nasdaq, Inc. $NDAQ

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Nasdaq, Inc. (NASDAQ:NDAQ) during the 2nd quarter, HoldingsChannel reports. The firm acquired 49,643 shares of the financial services provider’s stock, valued at approximately $3,913,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Independent Advisor Alliance increased its stake in shares of Nasdaq by 2.6% in the fourth quarter. Independent Advisor Alliance now owns 4,574 shares of the financial services provider’s stock worth $444,000 after acquiring an additional 117 shares during the last quarter. Quantum Portfolio Management LLC boosted its position in Nasdaq by 1.8% during the first quarter. Quantum Portfolio Management LLC now owns 7,144 shares of the financial services provider’s stock valued at $606,000 after purchasing an additional 123 shares during the last quarter. Avidian Wealth Enterprises LLC grew its stake in Nasdaq by 5.2% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 2,713 shares of the financial services provider’s stock valued at $264,000 after purchasing an additional 133 shares in the last quarter. Fielder Capital Group LLC grew its stake in Nasdaq by 3.1% in the fourth quarter. Fielder Capital Group LLC now owns 4,571 shares of the financial services provider’s stock valued at $444,000 after purchasing an additional 137 shares in the last quarter. Finally, Arkadios Wealth Advisors increased its position in Nasdaq by 2.5% in the 1st quarter. Arkadios Wealth Advisors now owns 5,643 shares of the financial services provider’s stock worth $479,000 after purchasing an additional 137 shares during the last quarter. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NDAQ. Barclays reaffirmed an “overweight” rating and set a $111.00 price target (up from $108.00) on shares of Nasdaq in a research note on Friday, July 24th. Wall Street Zen upgraded Nasdaq from a “sell” rating to a “hold” rating in a report on Sunday, May 3rd. Zacks Research raised shares of Nasdaq from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Nasdaq in a research report on Monday, July 20th. Finally, Rothschild & Co Redburn set a $110.00 target price on shares of Nasdaq in a research note on Thursday, June 11th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $110.30.

Insider Activity

In other news, major shareholder Ab Investor acquired 56,782 shares of Nasdaq stock in a transaction dated Thursday, June 11th. The stock was acquired at an average cost of $85.98 per share, for a total transaction of $4,882,116.36. Following the completion of the purchase, the insider owned 58,439,208 shares of the company’s stock, valued at $5,024,603,103.84. This represents a 0.10% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Bradley J. Peterson sold 13,000 shares of the company’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $92.61, for a total transaction of $1,203,930.00. Following the sale, the executive vice president directly owned 128,293 shares of the company’s stock, valued at approximately $11,881,214.73. This represents a 9.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 41,797 shares of company stock valued at $3,926,319 over the last 90 days. 0.60% of the stock is currently owned by company insiders.

Nasdaq Price Performance

Shares of NASDAQ:NDAQ opened at $99.35 on Friday. The stock has a market capitalization of $55.53 billion, a P/E ratio of 28.97, a P/E/G ratio of 1.32 and a beta of 0.97. The business has a 50-day moving average of $90.86 and a two-hundred day moving average of $88.33. Nasdaq, Inc. has a fifty-two week low of $76.55 and a fifty-two week high of $101.79. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.01 and a quick ratio of 1.01.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.09. Nasdaq had a return on equity of 18.38% and a net margin of 22.60%.The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the prior year, the firm posted $0.85 EPS. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. On average, equities research analysts predict that Nasdaq, Inc. will post 4.15 EPS for the current fiscal year.

Nasdaq Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, September 11th. Nasdaq’s dividend payout ratio (DPR) is 36.15%.

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.