Olstein Capital Management L.P. Acquires Shares of 59,000 Nasdaq, Inc. (NASDAQ:NDAQ)

Olstein Capital Management L.P. purchased a new position in Nasdaq, Inc. (NASDAQ:NDAQ) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 59,000 shares of the financial services provider’s stock, valued at approximately $4,308,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Nasdaq by 7.0% during the first quarter. Vanguard Group Inc. now owns 48,239,872 shares of the financial services provider’s stock worth $3,043,936,000 after buying an additional 3,173,981 shares in the last quarter. Farallon Capital Management LLC grew its holdings in shares of Nasdaq by 28.4% during the first quarter. Farallon Capital Management LLC now owns 8,436,719 shares of the financial services provider’s stock worth $532,357,000 after buying an additional 1,866,219 shares in the last quarter. Diamond Hill Capital Management Inc. grew its holdings in shares of Nasdaq by 2.0% during the second quarter. Diamond Hill Capital Management Inc. now owns 4,767,175 shares of the financial services provider’s stock worth $287,270,000 after buying an additional 94,122 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of Nasdaq by 26.5% during the first quarter. Bessemer Group Inc. now owns 2,878,115 shares of the financial services provider’s stock worth $181,609,000 after buying an additional 602,040 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Nasdaq by 3.5% during the second quarter. Bank of New York Mellon Corp now owns 2,443,939 shares of the financial services provider’s stock worth $147,272,000 after buying an additional 82,606 shares in the last quarter. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Nasdaq Stock Down 0.2 %

Nasdaq stock traded down $0.12 during mid-day trading on Thursday, hitting $77.47. The company had a trading volume of 113,150 shares, compared to its average volume of 2,880,123. The stock has a market cap of $44.53 billion, a price-to-earnings ratio of 46.46, a PEG ratio of 2.93 and a beta of 0.95. Nasdaq, Inc. has a 1 year low of $51.20 and a 1 year high of $79.27. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.84. The business has a fifty day moving average of $73.35 and a 200 day moving average of $66.51.

Nasdaq (NASDAQ:NDAQ) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.74 EPS for the quarter, beating the consensus estimate of $0.69 by $0.05. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.17 billion. Nasdaq had a net margin of 13.67% and a return on equity of 14.56%. The firm’s revenue was up 21.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.71 earnings per share. On average, sell-side analysts expect that Nasdaq, Inc. will post 2.78 earnings per share for the current fiscal year.

Nasdaq Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend is Friday, December 6th. Nasdaq’s payout ratio is currently 57.49%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Piper Sandler upped their target price on shares of Nasdaq from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Argus upped their target price on shares of Nasdaq from $76.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday. Morgan Stanley boosted their price target on shares of Nasdaq from $92.00 to $93.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Barclays boosted their price target on shares of Nasdaq from $84.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Finally, Bank of America lowered their price target on shares of Nasdaq from $90.00 to $88.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $80.33.

Insider Buying and Selling at Nasdaq

In other Nasdaq news, EVP Bradley J. Peterson sold 13,642 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $75.32, for a total value of $1,027,515.44. Following the completion of the sale, the executive vice president now owns 142,830 shares of the company’s stock, valued at approximately $10,757,955.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Bradley J. Peterson sold 13,642 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $75.32, for a total value of $1,027,515.44. Following the completion of the transaction, the executive vice president now owns 142,830 shares in the company, valued at $10,757,955.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Pc Nelson Griggs sold 6,000 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $75.71, for a total transaction of $454,260.00. Following the completion of the sale, the insider now owns 215,563 shares in the company, valued at $16,320,274.73. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.70% of the stock is owned by corporate insiders.

Nasdaq Company Profile

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.