Otter Creek Advisors LLC Acquires Shares of 70,462 Nasdaq, Inc. (NASDAQ:NDAQ)

Otter Creek Advisors LLC bought a new position in Nasdaq, Inc. (NASDAQ:NDAQ) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 70,462 shares of the financial services provider’s stock, valued at approximately $5,447,000. Nasdaq comprises 3.7% of Otter Creek Advisors LLC’s holdings, making the stock its 4th biggest position.

Several other hedge funds have also recently made changes to their positions in NDAQ. Wellington Management Group LLP raised its stake in Nasdaq by 163.3% in the 3rd quarter. Wellington Management Group LLP now owns 38,833,510 shares of the financial services provider’s stock valued at $2,835,235,000 after acquiring an additional 24,084,154 shares during the period. State Street Corp grew its position in shares of Nasdaq by 11.2% during the 3rd quarter. State Street Corp now owns 17,951,698 shares of the financial services provider’s stock valued at $1,310,653,000 after purchasing an additional 1,811,616 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Nasdaq by 9.5% in the third quarter. Geode Capital Management LLC now owns 10,761,240 shares of the financial services provider’s stock worth $783,181,000 after purchasing an additional 932,665 shares during the period. Harris Associates L P increased its stake in Nasdaq by 14.6% in the 3rd quarter. Harris Associates L P now owns 8,596,022 shares of the financial services provider’s stock worth $627,596,000 after acquiring an additional 1,096,090 shares during the last quarter. Finally, Mizuho Securities USA LLC grew its stake in Nasdaq by 13,532.3% in the 3rd quarter. Mizuho Securities USA LLC now owns 4,000,000 shares of the financial services provider’s stock worth $292,040,000 after buying an additional 3,970,658 shares in the last quarter. 72.47% of the stock is currently owned by institutional investors.

Insider Activity at Nasdaq

In other Nasdaq news, EVP Bryan Everard Smith sold 3,500 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $81.56, for a total transaction of $285,460.00. Following the completion of the sale, the executive vice president now directly owns 55,576 shares in the company, valued at approximately $4,532,778.56. This trade represents a 5.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.70% of the stock is owned by corporate insiders.

Nasdaq Price Performance

NDAQ opened at $80.04 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.95 and a debt-to-equity ratio of 0.81. The company has a market cap of $46.00 billion, a price-to-earnings ratio of 41.69, a price-to-earnings-growth ratio of 2.12 and a beta of 0.99. The stock has a fifty day simple moving average of $79.67 and a two-hundred day simple moving average of $76.74. Nasdaq, Inc. has a 12-month low of $55.51 and a 12-month high of $84.15.

Nasdaq (NASDAQ:NDAQ) last issued its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. Nasdaq had a net margin of 15.10% and a return on equity of 14.82%. Research analysts predict that Nasdaq, Inc. will post 3.18 earnings per share for the current fiscal year.

Nasdaq Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $0.24 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.96 annualized dividend and a dividend yield of 1.20%. Nasdaq’s payout ratio is currently 50.00%.

Analyst Ratings Changes

A number of research firms have weighed in on NDAQ. Keefe, Bruyette & Woods raised their price target on Nasdaq from $86.00 to $91.00 and gave the company an “outperform” rating in a research report on Friday, December 20th. Deutsche Bank Aktiengesellschaft upgraded Nasdaq from a “hold” rating to a “buy” rating and boosted their target price for the stock from $80.00 to $98.00 in a research report on Wednesday, January 8th. Citigroup boosted their price objective on shares of Nasdaq from $78.00 to $84.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Raymond James increased their target price on shares of Nasdaq from $83.00 to $84.00 and gave the company an “outperform” rating in a report on Thursday, January 9th. Finally, William Blair began coverage on shares of Nasdaq in a research note on Monday, November 25th. They issued an “outperform” rating for the company. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Nasdaq presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.88.

Nasdaq 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.