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Nasdaq (NDAQ) Acquires Solovis To Boost Investor Analytics

By Zacks Investment ResearchStock MarketsMar 09, 2020 09:41PM ET
www.investing.com/analysis/nasdaq-ndaq-acquires-solovis-to-boost-investor-analytics-200514862
Nasdaq (NDAQ) Acquires Solovis To Boost Investor Analytics
By Zacks Investment Research   |  Mar 09, 2020 09:41PM ET
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Nasdaq, Inc. (NASDAQ:NDAQ) has completed the buyout of Solovis, a privately-held financial technology company. However, terms of the deal were not disclosed.

With this deal, Solovis' multi-asset class portfolio management, analytics and reporting tools will be available through Nasdaq's EVestment Inc.

Headquartered in Texas, Solovis is a leading fintech innovation for institutional investors offering multi-asset class, multi-currency portfolio management. Solovis provides complementary power for ongoing portfolio management for the 600+ institutional investors, who rely on eVestment today for manager screening. The Solovis institutional investment management technology platform enables detailed analysis and dynamic data modeling across multiple portfolios and pools of capital for actionable, transparent insights that empower investors from the front to back office.

Rationale Behind the Deal

Nasdaq aims to cater the financial world with data and transparency through the upgraded technology. Therefore, the acquisition of Solovis is a strategic step forward for the acquirer as the merger of eVestment and Solovis will boost Nasdaq’s capabilities to better serve the investment community.

Solovis will pair with eVestment to deliver investment data, portfolio analytics and monitoring across public and private markets.

As far as Solovis is concerned, this buyout boosts its opportunities and enables to assist asset allocators in making better investment decisions through robust data and analytics.

The deal was made as part of Nasdaq’s strategy to maximize the opportunities as a technology and analytics provider to capital markets. Also, it is intended to enhance the company’s capital deployment and return on investment capital objectives.

Shares of this Zacks Rank #3 (Hold) stock have rallied 25.9% in the past year, outperforming the industry’s growth of 24.3%. The solid fundamentals should continue to drive shares higher.


Stocks to Consider

Some better-ranked finance stocks are MarketAxess Holdings, Inc. (NASDAQ:MKTX) , QIWI PLC (NASDAQ:QIWI) and Cardtronics PLC (NASDAQ:CATM) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

MarketAxess Holdings surpassed estimates in three of the last four quarters, the positive surprise being 0.53%, on average.

QIWI PLC outpaced estimates in the last four quarters, the positive surprise being 72.30%, on average.

Cardtronics surpassed estimates in the last four quarters, the positive surprise being 27.21%, on average.

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Nasdaq, Inc. (NDAQ): Free Stock Analysis Report

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QIWI PLC (QIWI): Free Stock Analysis Report

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Zacks Investment Research
Nasdaq (NDAQ) Acquires Solovis To Boost Investor Analytics
 

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Nasdaq (NDAQ) Acquires Solovis To Boost Investor Analytics

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