Pittenger & Anderson Inc. Trims Stake in Nasdaq, Inc. $NDAQ

Pittenger & Anderson Inc. reduced its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 2.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,789 shares of the financial services provider’s stock after selling 605 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Nasdaq were worth $2,038,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Janney Montgomery Scott LLC increased its holdings in Nasdaq by 7.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 43,161 shares of the financial services provider’s stock worth $3,274,000 after purchasing an additional 3,096 shares during the period. Principal Financial Group Inc. increased its holdings in Nasdaq by 1.2% during the 1st quarter. Principal Financial Group Inc. now owns 2,268,620 shares of the financial services provider’s stock worth $172,098,000 after purchasing an additional 27,622 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co purchased a new position in Nasdaq during the 1st quarter worth $222,000. 111 Capital increased its holdings in Nasdaq by 67.0% during the 2nd quarter. 111 Capital now owns 11,089 shares of the financial services provider’s stock worth $992,000 after purchasing an additional 4,450 shares during the period. Finally, IFM Investors Pty Ltd increased its holdings in Nasdaq by 7.9% during the 1st quarter. IFM Investors Pty Ltd now owns 96,686 shares of the financial services provider’s stock worth $7,059,000 after purchasing an additional 7,091 shares during the period. 72.47% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Michelle Lynn Daly sold 8,691 shares of the firm’s stock in a transaction on Friday, July 25th. The stock was sold at an average price of $93.45, for a total value of $812,173.95. Following the completion of the sale, the senior vice president owned 8,879 shares of the company’s stock, valued at $829,742.55. This trade represents a 49.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jeremy Skule sold 2,105 shares of the firm’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $95.49, for a total value of $201,006.45. Following the completion of the sale, the executive vice president directly owned 92,551 shares of the company’s stock, valued at $8,837,694.99. The trade was a 2.22% decrease in their position. The disclosure for this sale can be found here. 0.70% of the stock is owned by company insiders.

Nasdaq Stock Up 1.7%

Nasdaq stock opened at $90.33 on Wednesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market capitalization of $51.83 billion, a price-to-earnings ratio of 34.74, a PEG ratio of 1.98 and a beta of 0.98. Nasdaq, Inc. has a 1-year low of $64.84 and a 1-year high of $97.63. The business has a fifty day moving average price of $91.64 and a 200-day moving average price of $86.64.

Nasdaq (NASDAQ:NDAQ) last posted its quarterly earnings data on Tuesday, October 21st. The financial services provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.06. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Nasdaq had a return on equity of 15.90% and a net margin of 18.59%.The business’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.74 EPS. Equities research analysts forecast that Nasdaq, Inc. will post 3.18 EPS for the current fiscal year.

Nasdaq Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be given a $0.27 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.2%. Nasdaq’s dividend payout ratio (DPR) is presently 41.54%.

Analyst Ratings Changes

Several research analysts have commented on the company. The Goldman Sachs Group restated a “buy” rating on shares of Nasdaq in a report on Friday, July 25th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Nasdaq in a research report on Tuesday, October 14th. Raymond James Financial reaffirmed an “outperform” rating and set a $100.00 target price (up previously from $99.00) on shares of Nasdaq in a research report on Monday, October 13th. Deutsche Bank Aktiengesellschaft increased their target price on Nasdaq from $97.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Finally, Piper Sandler increased their target price on Nasdaq from $97.00 to $104.00 and gave the company an “overweight” rating in a research report on Monday, August 4th. Fifteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Nasdaq currently has an average rating of “Moderate Buy” and a consensus target price of $97.50.

About Nasdaq

Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. It operates in three segments: Capital Access Platforms, Financial Technology, and Market Services. The Capital Access Platforms segment sells and distributes historical and real-time market data; and develops and licenses Nasdaq-branded indices and financial products.