Nasdaq, Inc. $NDAQ Stock Purchased by Tompkins Financial Corp

by · The Markets Daily

Tompkins Financial Corp increased its holdings in Nasdaq, Inc. (NASDAQ:NDAQ – Free Report) by 13,100.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,788 shares of the financial services provider’s stock after purchasing an additional 7,729 shares during the quarter. Tompkins Financial Corp’s holdings in Nasdaq were worth $717,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. BlackRock Inc. purchased a new position in shares of Nasdaq during the 2nd quarter valued at approximately $2,931,637,000. Bank of America Corp DE acquired a new position in Nasdaq during the second quarter worth $603,631,000. The Manufacturers Life Insurance Company acquired a new position in Nasdaq during the second quarter worth $377,818,000. Legal & General Group Plc purchased a new position in Nasdaq during the second quarter valued at $220,130,000. Finally, Nuveen LLC lifted its holdings in Nasdaq by 82.0% during the fourth quarter. Nuveen LLC now owns 6,073,271 shares of the financial services provider’s stock valued at $589,897,000 after purchasing an additional 2,736,322 shares in the last quarter. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Nasdaq Trading Up 1.4%

Shares of NASDAQ NDAQ traded up $1.29 during trading on Monday, reaching $91.62. The stock had a trading volume of 799,696 shares, compared to its average volume of 3,820,932. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $51.22 billion, a P/E ratio of 26.73, a PEG ratio of 1.57 and a beta of 0.99. The business’s 50-day moving average price is $95.02 and its 200-day moving average price is $90.09. Nasdaq, Inc. has a fifty-two week low of $76.55 and a fifty-two week high of $101.79.

Nasdaq (NASDAQ:NDAQ – Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.07 EPS for the quarter, beating the consensus estimate of $0.98 by $0.09. Nasdaq had a net margin of 22.60% and a return on equity of 18.38%. The company had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter last year, the company posted $0.85 EPS. The firm’s revenue was up 14.9% compared to the same quarter last year. On average, equities research analysts predict that Nasdaq, Inc. will post 4.15 EPS for the current fiscal year.

Nasdaq Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 11th were issued a $0.31 dividend. The ex-dividend date was Friday, September 11th. This represents a $1.24 annualized dividend and a dividend yield of 1.4%. Nasdaq’s dividend payout ratio is presently 36.15%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NDAQ. Barclays reaffirmed an “overweight” rating and issued a $111.00 price target (up from $108.00) on shares of Nasdaq in a research note on Friday, July 24th. Piper Sandler restated an “overweight” rating and set a $108.00 target price (up from $104.00) on shares of Nasdaq in a report on Friday. Raymond James Financial reaffirmed an “outperform” rating and issued a $113.00 price target (up from $111.00) on shares of Nasdaq in a report on Thursday, July 9th. Weiss Ratings reissued a “buy (b)” rating on shares of Nasdaq in a research note on Monday, July 20th. Finally, Rothschild & Co Redburn set a $110.00 price target on shares of Nasdaq in a research report on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Nasdaq has a consensus rating of “Moderate Buy” and a consensus price target of $109.25.

View Our Latest Stock Report on NDAQ

Insider Buying and Selling at Nasdaq

In other Nasdaq news, insider Nelson Griggs sold 11,010 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $96.35, for a total transaction of $1,060,813.50. Following the transaction, the insider owned 205,001 shares of the company’s stock, valued at approximately $19,751,846.35. This trade represents a 5.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Bradley J. Peterson sold 13,000 shares of the company’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $92.61, for a total value of $1,203,930.00. Following the completion of the sale, the executive vice president directly owned 128,293 shares of the company’s stock, valued at approximately $11,881,214.73. This trade represents a 9.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 44,047 shares of company stock worth $4,139,191 over the last 90 days. Corporate insiders own 0.60% of the company’s stock.

Nasdaq Company Profile

(Free Report)

Nasdaq, Inc is a global financial technology, market infrastructure and exchange company headquartered in New York City. The company operates Nasdaq stock exchanges in the United States and provides trading, clearing, settlement, listing and market data services. Through its Nordic and Baltic operations, Nasdaq also serves financial markets across Northern Europe.

Nasdaq’s business includes exchange and market services, index development, investment intelligence, and technology solutions for exchanges, brokers, banks, asset managers and other financial institutions.

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