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

Connor Clark & Lunn Investment Management Ltd. lessened its stake in shares of Nasdaq, Inc. (NASDAQ:NDAQ) by 15.3% in the third quarter, HoldingsChannel.com reports. The firm owned 83,422 shares of the financial services provider’s stock after selling 15,084 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Nasdaq were worth $6,091,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in NDAQ. Segall Bryant & Hamill LLC purchased a new stake in Nasdaq during the 3rd quarter valued at $8,512,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Nasdaq during the third quarter valued at about $3,806,000. LGT Capital Partners LTD. increased its holdings in Nasdaq by 1.5% during the 3rd quarter. LGT Capital Partners LTD. now owns 1,266,090 shares of the financial services provider’s stock valued at $92,437,000 after purchasing an additional 18,190 shares during the period. Legacy Bridge LLC purchased a new position in shares of Nasdaq during the third quarter valued at approximately $1,288,000. Finally, Verity & Verity LLC lifted its position in shares of Nasdaq by 9.9% in the 3rd quarter. Verity & Verity LLC now owns 7,674 shares of the financial services provider’s stock worth $560,000 after purchasing an additional 692 shares during the period. Institutional investors own 72.47% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Bradley J. Peterson sold 13,642 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $75.32, for a total value 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 approximately $10,757,955.60. This trade represents a 8.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jeremy Skule sold 12,075 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $78.75, for a total transaction of $950,906.25. Following the transaction, the executive vice president now owns 102,505 shares of the company’s stock, valued at $8,072,268.75. This trade represents a 10.54 % decrease in their position. 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 in the last quarter. 0.70% of the stock is currently owned by insiders.

Nasdaq Trading Up 0.2 %

Shares of NDAQ opened at $81.07 on Friday. The firm has a market cap of $46.60 billion, a P/E ratio of 48.54, a price-to-earnings-growth ratio of 3.12 and a beta of 0.95. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.95 and a quick ratio of 0.95. Nasdaq, Inc. has a 1 year low of $53.62 and a 1 year high of $81.35. The company has a 50 day simple moving average of $75.11 and a two-hundred day simple moving average of $68.04.

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

Nasdaq Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders 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 dividend payout ratio is presently 57.49%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NDAQ. StockNews.com cut Nasdaq from a “hold” rating to a “sell” rating in a research note on Tuesday. TD Cowen reduced their price target on shares of Nasdaq from $81.00 to $80.00 and set a “hold” rating for the company in a research note on Monday, October 28th. Deutsche Bank Aktiengesellschaft increased their price target on Nasdaq from $78.00 to $80.00 and gave the company a “hold” rating in a report on Monday, November 11th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $88.00 price objective on shares of Nasdaq in a report on Tuesday. Finally, Keefe, Bruyette & Woods increased their target price on Nasdaq from $76.00 to $78.00 and gave the company an “outperform” rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Nasdaq presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.87.

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.