Meeder Advisory Services Inc. Acquires 371 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Meeder Advisory Services Inc. raised its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 5.3% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 7,428 shares of the financial services provider’s stock after acquiring an additional 371 shares during the period. Meeder Advisory Services Inc.’s holdings in Intercontinental Exchange were worth $1,021,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Scarborough Advisors LLC purchased a new stake in Intercontinental Exchange in the fourth quarter worth $25,000. Annapolis Financial Services LLC increased its position in Intercontinental Exchange by 1,018.8% during the 1st quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock valued at $25,000 after buying an additional 163 shares in the last quarter. Redmont Wealth Advisors LLC purchased a new position in Intercontinental Exchange in the 1st quarter worth approximately $26,000. Fortitude Family Office LLC bought a new position in Intercontinental Exchange during the 4th quarter valued at about $28,000. Finally, Stuart Chaussee & Associates Inc. purchased a new position in shares of Intercontinental Exchange in the 4th quarter worth $28,000. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Stock Up 0.9 %

NYSE ICE traded up $1.31 on Tuesday, reaching $149.13. 390,979 shares of the stock traded hands, compared to its average volume of 2,363,417. Intercontinental Exchange, Inc. has a 12 month low of $104.49 and a 12 month high of $149.44. The company has a market cap of $85.54 billion, a price-to-earnings ratio of 33.90, a PEG ratio of 2.72 and a beta of 1.06. The company has a fifty day moving average price of $137.23 and a 200-day moving average price of $134.29. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, May 2nd. The financial services provider reported $1.48 EPS for the quarter, meeting analysts’ consensus estimates of $1.48. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter last year, the firm posted $1.41 EPS. The company’s revenue for the quarter was up 20.8% on a year-over-year basis. As a group, research analysts forecast that Intercontinental Exchange, Inc. will post 5.98 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ICE. Citigroup boosted their target price on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Keefe, Bruyette & Woods dropped their target price on shares of Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. Barclays boosted their price target on Intercontinental Exchange from $150.00 to $159.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Morgan Stanley boosted their target price on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Finally, Rosenblatt Securities restated a “buy” rating and set a $164.00 price objective on shares of Intercontinental Exchange in a research report on Friday, May 3rd. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $152.07.

Insider Activity

In other Intercontinental Exchange news, CTO Mayur Kapani sold 395 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $141.13, for a total value of $55,746.35. Following the completion of the sale, the chief technology officer now directly owns 64,471 shares in the company, valued at $9,098,792.23. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CTO Mayur Kapani sold 395 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $141.13, for a total value of $55,746.35. Following the transaction, the chief technology officer now owns 64,471 shares in the company, valued at approximately $9,098,792.23. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Intercontinental Exchange, Inc acquired 350,880 shares of the company’s stock in a transaction dated Thursday, April 25th. The stock was acquired at an average cost of $0.87 per share, for a total transaction of $305,265.60. Following the completion of the acquisition, the insider now directly owns 649,934 shares in the company, valued at $565,442.58. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 63,290 shares of company stock worth $8,937,674. Corporate insiders own 1.10% of the company’s stock.

About Intercontinental Exchange

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.