Connor Clark & Lunn Investment Management Ltd. Sells 15,084 Shares of Nasdaq, Inc. (NASDAQ:NDAQ)

Connor Clark & Lunn Investment Management Ltd. trimmed its position in Nasdaq, Inc. (NASDAQ:NDAQ) by 15.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,422 shares of the financial services provider’s stock after selling 15,084 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Nasdaq were worth $6,091,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NDAQ. Price T Rowe Associates Inc. MD grew its stake in Nasdaq by 12.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 517,000 shares of the financial services provider’s stock valued at $32,624,000 after acquiring an additional 57,900 shares during the period. Swedbank AB acquired a new stake in Nasdaq in the 1st quarter valued at $2,595,000. Diversified Trust Co increased its stake in Nasdaq by 45.2% during the 2nd quarter. Diversified Trust Co now owns 28,813 shares of the financial services provider’s stock valued at $1,736,000 after purchasing an additional 8,974 shares in the last quarter. Cetera Investment Advisers raised its holdings in Nasdaq by 52.7% during the first quarter. Cetera Investment Advisers now owns 30,214 shares of the financial services provider’s stock worth $1,907,000 after buying an additional 10,427 shares during the last quarter. Finally, American International Group Inc. lifted its stake in shares of Nasdaq by 10.6% in the first quarter. American International Group Inc. now owns 102,770 shares of the financial services provider’s stock valued at $6,485,000 after buying an additional 9,887 shares in the last quarter. 72.47% of the stock is owned by institutional investors.

Insider Activity at Nasdaq

In other Nasdaq news, EVP Jeremy Skule sold 12,075 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $78.75, for a total value of $950,906.25. Following the completion of the sale, the executive vice president now owns 102,505 shares of the company’s stock, valued at $8,072,268.75. This represents a 10.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Pc Nelson Griggs sold 5,742 shares of Nasdaq stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $77.34, for a total transaction of $444,086.28. Following the transaction, the insider now directly owns 205,821 shares in the company, valued at $15,918,196.14. This trade represents a 2.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 49,459 shares of company stock valued at $3,811,808 over the last 90 days. 0.70% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on NDAQ. UBS Group raised their price target on shares of Nasdaq from $73.00 to $79.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods increased their price target on shares of Nasdaq from $76.00 to $78.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Barclays raised their target price on Nasdaq from $84.00 to $87.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Piper Sandler increased their target price on shares of Nasdaq from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Finally, Raymond James upgraded shares of Nasdaq from a “market perform” rating to an “outperform” rating and set a $82.00 price target on the stock in a research note on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $80.87.

Nasdaq Stock Performance

NASDAQ:NDAQ opened at $81.07 on Friday. Nasdaq, Inc. has a twelve month low of $53.62 and a twelve month high of $81.35. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.84. The stock has a market cap of $46.60 billion, a P/E ratio of 48.54, a PEG ratio of 3.12 and a beta of 0.95. The business’s 50-day moving average price is $75.11 and its two-hundred day moving average price is $68.04.

Nasdaq (NASDAQ:NDAQ) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.05. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.17 billion. Nasdaq had a net margin of 13.67% and a return on equity of 14.56%. Nasdaq’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.71 earnings per share. As a group, equities analysts predict that Nasdaq, Inc. will post 2.79 EPS for the current fiscal year.

Nasdaq Announces Dividend

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