Victory Capital Management Inc. Sells 17,782 Shares of Nasdaq, Inc. (NASDAQ:NDAQ)

Victory Capital Management Inc. decreased its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 5.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 286,675 shares of the financial services provider’s stock after selling 17,782 shares during the quarter. Victory Capital Management Inc.’s holdings in Nasdaq were worth $20,930,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in NDAQ. Catalyst Capital Advisors LLC bought a new stake in Nasdaq during the third quarter valued at about $27,000. Y.D. More Investments Ltd boosted its position in Nasdaq by 94.8% during the second quarter. Y.D. More Investments Ltd now owns 415 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 202 shares in the last quarter. Hobbs Group Advisors LLC bought a new stake in Nasdaq during the second quarter valued at about $26,000. Claro Advisors LLC bought a new stake in Nasdaq during the third quarter valued at about $33,000. Finally, Focused Wealth Management Inc bought a new stake in Nasdaq during the third quarter valued at about $35,000. Institutional investors own 72.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NDAQ. Morgan Stanley raised their price objective on Nasdaq from $92.00 to $93.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. TD Cowen lowered their price target on Nasdaq from $81.00 to $80.00 and set a “hold” rating for the company in a report on Monday, October 28th. Bank of America lowered their price target on Nasdaq from $90.00 to $88.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. StockNews.com raised Nasdaq from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Finally, Barclays raised their price target on Nasdaq from $84.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $80.87.

Insider Activity at Nasdaq

In other news, EVP Jeremy Skule sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $77.92, for a total value of $935,040.00. Following the completion of the sale, the executive vice president now directly owns 114,580 shares in the company, valued at $8,928,073.60. The trade was a 9.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Bradley J. Peterson sold 13,642 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were 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 $10,757,955.60. This trade represents a 8.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,384 shares of company stock worth $2,860,902. 0.70% of the stock is owned by corporate insiders.

Nasdaq Stock Up 1.3 %

Shares of NDAQ stock opened at $79.78 on Tuesday. The stock has a 50 day moving average of $74.45 and a 200 day moving average of $67.59. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.84. The stock has a market cap of $45.85 billion, a P/E ratio of 47.77, a P/E/G ratio of 3.07 and a beta of 0.95. Nasdaq, Inc. has a twelve month low of $53.36 and a twelve month high of $80.77.

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

Nasdaq Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Friday, December 6th. Nasdaq’s dividend payout ratio is currently 57.49%.

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.