Texas Permanent School Fund Corp Decreases Holdings in Nasdaq, Inc. (NASDAQ:NDAQ)

Texas Permanent School Fund Corp decreased its position in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 26.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,053 shares of the financial services provider’s stock after selling 23,088 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Nasdaq were worth $3,800,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of NDAQ. Choreo LLC purchased a new stake in Nasdaq in the 2nd quarter valued at approximately $729,000. Prudential PLC lifted its stake in Nasdaq by 28.1% in the 2nd quarter. Prudential PLC now owns 73,865 shares of the financial services provider’s stock valued at $4,451,000 after buying an additional 16,219 shares in the last quarter. Fairbanks Capital Management Inc. lifted its stake in Nasdaq by 2.6% in the 2nd quarter. Fairbanks Capital Management Inc. now owns 28,574 shares of the financial services provider’s stock valued at $1,722,000 after buying an additional 717 shares in the last quarter. Varma Mutual Pension Insurance Co lifted its stake in Nasdaq by 1.6% in the 2nd quarter. Varma Mutual Pension Insurance Co now owns 201,076 shares of the financial services provider’s stock valued at $12,117,000 after buying an additional 3,176 shares in the last quarter. Finally, Paralel Advisors LLC purchased a new stake in Nasdaq in the 2nd quarter valued at approximately $2,179,000. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Nasdaq Stock Performance

Shares of NDAQ stock opened at $73.00 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.94 and a current ratio of 0.94. Nasdaq, Inc. has a one year low of $46.88 and a one year high of $74.17. The company’s 50-day simple moving average is $67.89 and its 200-day simple moving average is $63.00. The stock has a market capitalization of $42.04 billion, a price-to-earnings ratio of 38.42, a PEG ratio of 2.97 and a beta of 0.95.

Nasdaq (NASDAQ:NDAQ) last issued its earnings results on Thursday, July 25th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. Nasdaq had a net margin of 14.43% and a return on equity of 15.45%. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter last year, the company posted $0.71 earnings per share. Nasdaq’s revenue was up 25.3% on a year-over-year basis. Equities analysts anticipate that Nasdaq, Inc. will post 2.74 earnings per share for the current fiscal year.

Nasdaq Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.96 annualized dividend and a dividend yield of 1.32%. Nasdaq’s payout ratio is currently 50.53%.

Wall Street Analysts Forecast Growth

NDAQ has been the topic of a number of recent analyst reports. Oppenheimer increased their price target on Nasdaq from $78.00 to $80.00 and gave the stock an “outperform” rating in a research note on Monday, September 9th. Keefe, Bruyette & Woods increased their price target on Nasdaq from $76.00 to $78.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Barclays increased their price target on Nasdaq from $74.00 to $77.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft increased their price target on Nasdaq from $66.00 to $72.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Finally, Bank of America raised Nasdaq from an “underperform” rating to a “buy” rating and increased their price target for the stock from $53.00 to $90.00 in a research note on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Nasdaq has a consensus rating of “Moderate Buy” and a consensus target price of $72.08.

Insider Buying and Selling at Nasdaq

In related news, major shareholder Seller Lp Argus sold 42,804,207 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $64.58, for a total transaction of $2,764,295,688.06. Following the transaction, the insider now owns 42,804,207 shares in the company, valued at $2,764,295,688.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is 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.