Seven Eight Capital LP Invests $745,000 in Nasdaq, Inc. (NASDAQ:NDAQ)

Seven Eight Capital LP purchased a new stake in Nasdaq, Inc. (NASDAQ:NDAQ) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 11,810 shares of the financial services provider’s stock, valued at approximately $745,000.

A number of other institutional investors and hedge funds have also bought and sold shares of NDAQ. HB Wealth Management LLC lifted its holdings in shares of Nasdaq by 26.5% during the 4th quarter. HB Wealth Management LLC now owns 6,044 shares of the financial services provider’s stock worth $351,000 after acquiring an additional 1,268 shares during the period. Compagnie Lombard Odier SCmA acquired a new stake in Nasdaq in the fourth quarter worth $161,000. Cooper Financial Group bought a new position in shares of Nasdaq in the fourth quarter valued at $206,000. Raymond James & Associates lifted its stake in shares of Nasdaq by 1.2% in the fourth quarter. Raymond James & Associates now owns 1,182,960 shares of the financial services provider’s stock valued at $68,777,000 after buying an additional 13,883 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Nasdaq by 25.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 461,494 shares of the financial services provider’s stock valued at $26,831,000 after buying an additional 93,394 shares in the last quarter. Institutional investors and hedge funds own 72.47% of the company’s stock.

Wall Street Analyst Weigh In

NDAQ has been the topic of several research reports. Argus lifted their price objective on shares of Nasdaq from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, May 14th. The Goldman Sachs Group upgraded shares of Nasdaq from a “neutral” rating to a “buy” rating and set a $73.00 target price for the company in a research note on Tuesday, March 26th. Barclays lifted their target price on shares of Nasdaq from $73.00 to $74.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. StockNews.com downgraded shares of Nasdaq from a “hold” rating to a “sell” rating in a research note on Friday, April 26th. Finally, Edward Jones began coverage on shares of Nasdaq in a research note on Wednesday, April 3rd. They set a “buy” rating for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Nasdaq currently has an average rating of “Moderate Buy” and a consensus price target of $67.08.

Nasdaq Price Performance

Nasdaq stock traded up $0.10 during mid-day trading on Tuesday, hitting $63.13. 2,275,130 shares of the company traded hands, compared to its average volume of 2,785,184. Nasdaq, Inc. has a one year low of $46.88 and a one year high of $64.25. The stock has a market cap of $36.31 billion, a price-to-earnings ratio of 33.23, a price-to-earnings-growth ratio of 2.88 and a beta of 0.94. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a fifty day moving average price of $60.69 and a 200-day moving average price of $59.62.

Nasdaq (NASDAQ:NDAQ) last announced its earnings results on Thursday, April 25th. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.02). Nasdaq had a net margin of 15.98% and a return on equity of 17.00%. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the previous year, the firm earned $0.69 earnings per share. The company’s revenue for the quarter was up 22.2% compared to the same quarter last year. On average, equities analysts predict that Nasdaq, Inc. will post 2.7 earnings per share for the current fiscal year.

Nasdaq Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a dividend of $0.24 per share. The ex-dividend date was Friday, June 14th. This is a positive change from Nasdaq’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 1.52%. Nasdaq’s payout ratio is presently 50.53%.

Insider Buying and Selling at Nasdaq

In other Nasdaq news, EVP Bryan Everard Smith sold 3,036 shares of Nasdaq stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $59.89, for a total transaction of $181,826.04. Following the completion of the sale, the executive vice president now directly owns 58,636 shares in the company, valued at $3,511,710.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.70% of the stock is currently owned by company 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.