Harris Associates L P Has $627.60 Million Stock Position in Nasdaq, Inc. (NASDAQ:NDAQ)

Harris Associates L P increased its holdings in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 14.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,596,022 shares of the financial services provider’s stock after purchasing an additional 1,096,090 shares during the period. Harris Associates L P’s holdings in Nasdaq were worth $627,596,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in NDAQ. Diversified Trust Co increased its stake in Nasdaq by 45.2% in the second quarter. Diversified Trust Co now owns 28,813 shares of the financial services provider’s stock valued at $1,736,000 after acquiring an additional 8,974 shares during the last quarter. Cetera Investment Advisers boosted its position in shares of Nasdaq by 52.7% in the first quarter. Cetera Investment Advisers now owns 30,214 shares of the financial services provider’s stock worth $1,907,000 after purchasing an additional 10,427 shares during the period. Foster Victor Wealth Advisors LLC grew its holdings in Nasdaq by 8.9% during the 2nd quarter. Foster Victor Wealth Advisors LLC now owns 289,016 shares of the financial services provider’s stock valued at $18,295,000 after buying an additional 23,557 shares in the last quarter. DNB Asset Management AS grew its holdings in Nasdaq by 18.7% during the 2nd quarter. DNB Asset Management AS now owns 65,255 shares of the financial services provider’s stock valued at $3,932,000 after purchasing an additional 10,286 shares during the last quarter. Finally, Cumberland Partners Ltd bought a new position in shares of Nasdaq during the 3rd quarter worth $10,400,000. 72.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Pc Nelson Griggs sold 5,742 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $77.34, for a total transaction of $444,086.28. Following the completion of the sale, the insider now directly owns 205,821 shares in the company, valued at $15,918,196.14. This represents a 2.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Bradley J. Peterson sold 13,642 shares of Nasdaq stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $75.32, for a total transaction of $1,027,515.44. Following the completion of the transaction, the executive vice president now directly 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. Insiders sold a total of 49,459 shares of company stock valued at $3,811,808 over the last three months. Insiders own 0.70% of the company’s stock.

Nasdaq Stock Performance

Shares of NDAQ stock opened at $81.65 on Tuesday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.84. Nasdaq, Inc. has a 52 week low of $53.62 and a 52 week high of $83.77. The company’s fifty day simple moving average is $76.02 and its 200-day simple moving average is $68.93. The company has a market cap of $46.93 billion, a PE ratio of 48.89, a P/E/G ratio of 3.23 and a beta of 0.97.

Nasdaq (NASDAQ:NDAQ) last posted 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. Nasdaq had a return on equity of 14.56% and a net margin of 13.67%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the firm earned $0.71 earnings per share. Nasdaq’s quarterly revenue was up 21.9% on a year-over-year basis. As a group, equities research analysts anticipate that Nasdaq, Inc. will post 2.79 EPS for the current year.

Nasdaq Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.18%. The ex-dividend date is Friday, December 6th. Nasdaq’s payout ratio is 57.49%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on NDAQ shares. TD Cowen lowered their target price on shares of Nasdaq from $81.00 to $80.00 and set a “hold” rating on the stock in a research note on Monday, October 28th. Raymond James upgraded Nasdaq from a “market perform” rating to an “outperform” rating and set a $82.00 target price on the stock in a research report on Monday, October 14th. Bank of America dropped their target price on Nasdaq from $90.00 to $88.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. Oppenheimer raised their price objective on Nasdaq from $84.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, Piper Sandler boosted their price target on Nasdaq from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Nasdaq has a consensus rating of “Moderate Buy” and a consensus target price of $80.87.

Nasdaq 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.