Fairbanks Capital Management Inc. Buys 717 Shares of Nasdaq, Inc. (NASDAQ:NDAQ)

Fairbanks Capital Management Inc. increased its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 2.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 28,574 shares of the financial services provider’s stock after buying an additional 717 shares during the period. Nasdaq accounts for about 1.1% of Fairbanks Capital Management Inc.’s portfolio, making the stock its 29th largest holding. Fairbanks Capital Management Inc.’s holdings in Nasdaq were worth $1,722,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Thoma Bravo L.P. acquired a new stake in Nasdaq in the 4th quarter worth about $4,166,454,000. Vanguard Group Inc. raised its stake in Nasdaq by 7.0% in the 1st quarter. Vanguard Group Inc. now owns 48,239,872 shares of the financial services provider’s stock worth $3,043,936,000 after purchasing an additional 3,173,981 shares in the last quarter. Farallon Capital Management LLC raised its stake in Nasdaq by 28.4% in the 1st quarter. Farallon Capital Management LLC now owns 8,436,719 shares of the financial services provider’s stock worth $532,357,000 after purchasing an additional 1,866,219 shares in the last quarter. Norges Bank acquired a new stake in Nasdaq in the 4th quarter worth about $239,347,000. Finally, Bessemer Group Inc. raised its stake in Nasdaq by 26.5% in the 1st quarter. Bessemer Group Inc. now owns 2,878,115 shares of the financial services provider’s stock worth $181,609,000 after purchasing an additional 602,040 shares in the last quarter. Institutional investors own 72.47% of the company’s stock.

Nasdaq Price Performance

NDAQ stock opened at $71.95 on Monday. The company has a 50 day simple moving average of $66.67 and a 200 day simple moving average of $62.49. The stock has a market cap of $41.44 billion, a price-to-earnings ratio of 37.87, a P/E/G ratio of 2.94 and a beta of 0.95. Nasdaq, Inc. has a 1 year low of $46.88 and a 1 year high of $74.17. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.94 and a quick ratio of 0.94.

Nasdaq (NASDAQ:NDAQ) last released its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. Nasdaq had a net margin of 14.43% and a return on equity of 15.45%. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the prior year, the company earned $0.71 EPS. The firm’s quarterly revenue was up 25.3% compared to the same quarter last year. Research analysts anticipate that Nasdaq, Inc. will post 2.74 EPS for the current fiscal year.

Nasdaq Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend is Friday, September 13th. Nasdaq’s payout ratio is 50.53%.

Insiders Place Their Bets

In other Nasdaq news, major shareholder Seller Lp Argus sold 42,804,207 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $64.58, for a total transaction of $2,764,295,688.06. Following the sale, the insider now directly owns 42,804,207 shares of the company’s stock, valued at approximately $2,764,295,688.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

NDAQ has been the subject of several analyst reports. Oppenheimer lifted their price objective on shares of Nasdaq from $78.00 to $80.00 and gave the stock an “outperform” rating in a research note on Monday. Bank of America upgraded shares of Nasdaq from an “underperform” rating to a “buy” rating and lifted their price objective for the stock from $53.00 to $90.00 in a research note on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Nasdaq from $66.00 to $72.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Keefe, Bruyette & Woods boosted their target price on shares of Nasdaq from $76.00 to $78.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Finally, Argus boosted their target price on shares of Nasdaq from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, May 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $72.08.

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.