Bank of New York Mellon Corp Purchases 82,606 Shares of Nasdaq, Inc. (NASDAQ:NDAQ)

Bank of New York Mellon Corp increased its position in Nasdaq, Inc. (NASDAQ:NDAQ) by 3.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,443,939 shares of the financial services provider’s stock after acquiring an additional 82,606 shares during the period. Bank of New York Mellon Corp’s holdings in Nasdaq were worth $147,272,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Thoma Bravo L.P. bought a new position in Nasdaq in the fourth quarter valued at about $4,166,454,000. Vanguard Group Inc. increased its holdings in Nasdaq by 7.0% during the first quarter. Vanguard Group Inc. now owns 48,239,872 shares of the financial services provider’s stock valued at $3,043,936,000 after buying an additional 3,173,981 shares during the last quarter. Farallon Capital Management LLC raised its holdings in 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 valued at $532,357,000 after acquiring an additional 1,866,219 shares during the period. Norges Bank purchased a new position in shares of Nasdaq in the fourth quarter valued at about $239,347,000. Finally, Bessemer Group Inc. grew its position 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 purchasing an additional 602,040 shares in the last quarter. 72.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NDAQ has been the subject of a number of research analyst reports. Oppenheimer increased their price objective on shares of Nasdaq from $72.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Barclays lifted their target price on Nasdaq from $74.00 to $77.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Argus increased their price objective 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. Keefe, Bruyette & Woods boosted their target price on shares of Nasdaq from $76.00 to $78.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Finally, Rosenblatt Securities downgraded shares of Nasdaq from a “buy” rating to a “neutral” rating and lowered their price target for the company from $76.00 to $64.00 in a report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Nasdaq currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.54.

Nasdaq Price Performance

NASDAQ NDAQ opened at $70.59 on Tuesday. Nasdaq, Inc. has a 12-month low of $46.88 and a 12-month high of $70.98. The firm’s fifty day simple moving average is $64.47 and its two-hundred day simple moving average is $61.48. The company has a current ratio of 0.94, a quick ratio of 0.99 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $40.60 billion, a P/E ratio of 37.15, a P/E/G ratio of 2.72 and a beta of 0.94.

Nasdaq (NASDAQ:NDAQ) last announced its earnings results on Thursday, July 25th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.05. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. Nasdaq had a return on equity of 15.45% and a net margin of 14.43%. The firm’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.71 EPS. Analysts forecast that Nasdaq, Inc. will post 2.73 EPS for the current fiscal year.

Nasdaq Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend is Friday, September 13th. Nasdaq’s payout ratio is 50.53%.

Insiders Place Their Bets

In related news, major shareholder Seller Lp Argus sold 42,804,207 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $64.58, for a total value of $2,764,295,688.06. Following the transaction, the insider now owns 42,804,207 shares in the company, valued at approximately $2,764,295,688.06. The sale was disclosed in a filing with the SEC, which is available through this link. 0.70% of the stock is currently owned by insiders.

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.