Canandaigua National Bank & Trust Co. Acquires Shares of 9,460 Nasdaq, Inc. $NDAQ

Canandaigua National Bank & Trust Co. acquired a new position in Nasdaq, Inc. (NASDAQ:NDAQ) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 9,460 shares of the financial services provider’s stock, valued at approximately $746,000.

Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new stake in shares of Nasdaq in the fourth quarter valued at approximately $530,100,000. Morgan Stanley lifted its stake in Nasdaq by 62.6% during the fourth quarter. Morgan Stanley now owns 9,266,562 shares of the financial services provider’s stock worth $900,061,000 after purchasing an additional 3,567,843 shares in the last quarter. Nuveen LLC grew its position in Nasdaq by 82.0% in the 4th quarter. Nuveen LLC now owns 6,073,271 shares of the financial services provider’s stock valued at $589,897,000 after acquiring an additional 2,736,322 shares in the last quarter. Harris Associates L P grew its holdings in shares of Nasdaq by 46.0% in the fourth quarter. Harris Associates L P now owns 8,621,689 shares of the financial services provider’s stock valued at $837,425,000 after purchasing an additional 2,716,280 shares in the last quarter. Finally, State Street Corp grew its stake in shares of Nasdaq by 7.7% in the third quarter. State Street Corp now owns 19,619,192 shares of the financial services provider’s stock worth $1,735,318,000 after acquiring an additional 1,404,348 shares in the last quarter. 72.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Nasdaq

In related news, EVP Bradley J. Peterson sold 13,000 shares of the firm’s stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $92.61, for a total value 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 trade represents a 9.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Ab Investor acquired 56,782 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were acquired at an average price of $85.98 per share, with a total value 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 trade represents a 0.10% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 41,797 shares of company stock worth $3,926,319 in the last 90 days. 0.60% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on NDAQ shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Nasdaq in a research note on Monday, July 20th. Zacks Research raised shares of Nasdaq from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Keefe, Bruyette & Woods raised their price target on Nasdaq from $92.00 to $102.00 and gave the stock a “market perform” rating in a research note on Friday, July 24th. Loop Capital set a $113.00 price target on shares of Nasdaq in a research report on Friday, April 24th. Finally, Wall Street Zen upgraded shares of Nasdaq from a “sell” rating to a “hold” rating in a research note on Sunday, May 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $110.30.

Nasdaq Trading Up 1.0%

Shares of NDAQ opened at $94.56 on Thursday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71. The firm’s 50-day moving average is $88.01 and its two-hundred day moving average is $88.17. Nasdaq, Inc. has a twelve month low of $76.55 and a twelve month high of $101.79. The firm has a market capitalization of $52.86 billion, a P/E ratio of 27.57, a PEG ratio of 1.27 and a beta of 0.97.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.09. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $1.46 billion. Nasdaq had a return on equity of 18.38% and a net margin of 22.60%.The business’s revenue was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.85 EPS. On average, research analysts predict that Nasdaq, Inc. will post 4.13 earnings per share for the current fiscal year.

Nasdaq Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Friday, September 11th. Nasdaq’s dividend payout ratio (DPR) is presently 36.15%.

About Nasdaq

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.