Intercontinental Exchange (NYSE:ICE) Lifted to Hold at StockNews.com

StockNews.com upgraded shares of Intercontinental Exchange (NYSE:ICE) from a sell rating to a hold rating in a report issued on Thursday morning.

ICE has been the topic of several other reports. JPMorgan Chase & Co. increased their price objective on Intercontinental Exchange from $147.00 to $151.00 and gave the company an overweight rating in a research note on Friday, May 3rd. Deutsche Bank Aktiengesellschaft lifted their price target on Intercontinental Exchange from $152.00 to $154.00 and gave the stock a hold rating in a report on Thursday, August 15th. The Goldman Sachs Group raised Intercontinental Exchange from a neutral rating to a buy rating and lifted their price target for the stock from $143.00 to $167.00 in a report on Monday, July 1st. Keefe, Bruyette & Woods reaffirmed an outperform rating and set a $168.00 price target on shares of Intercontinental Exchange in a report on Tuesday, August 6th. Finally, Rosenblatt Securities reaffirmed a buy rating and set a $164.00 price target on shares of Intercontinental Exchange in a report on Friday, May 3rd. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $154.93.

Intercontinental Exchange Stock Up 0.8 %

Shares of NYSE ICE opened at $161.55 on Thursday. The stock has a market cap of $92.75 billion, a P/E ratio of 37.05, a PEG ratio of 2.84 and a beta of 1.06. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69. Intercontinental Exchange has a 12-month low of $104.49 and a 12-month high of $161.97. The business’s fifty day simple moving average is $149.68 and its 200-day simple moving average is $140.32.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.03. The business had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The company’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same period last year, the firm earned $1.43 earnings per share. As a group, equities analysts predict that Intercontinental Exchange will post 6.04 EPS for the current fiscal year.

Insider Activity

In other news, Director Judith A. Sprieser sold 1,941 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $160.69, for a total value of $311,899.29. Following the completion of the sale, the director now directly owns 26,908 shares of the company’s stock, valued at approximately $4,323,846.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Intercontinental Exchange news, Director Judith A. Sprieser sold 1,941 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $160.69, for a total transaction of $311,899.29. Following the completion of the sale, the director now directly owns 26,908 shares of the company’s stock, valued at approximately $4,323,846.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Mayur Kapani sold 395 shares of the company’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 sale, the chief technology officer now directly owns 64,471 shares of the company’s stock, valued at $9,098,792.23. The disclosure for this sale can be found here. In the last three months, insiders sold 66,346 shares of company stock valued at $9,472,911. Insiders own 1.10% of the company’s stock.

Institutional Trading of Intercontinental Exchange

Several institutional investors and hedge funds have recently added to or reduced their stakes in ICE. Brown Financial Advisors acquired a new position in Intercontinental Exchange during the 2nd quarter worth approximately $726,000. Clearbridge Investments LLC increased its position in Intercontinental Exchange by 10.4% during the 2nd quarter. Clearbridge Investments LLC now owns 3,019,195 shares of the financial services provider’s stock worth $413,298,000 after purchasing an additional 284,664 shares during the period. New Century Financial Group LLC increased its position in Intercontinental Exchange by 38.6% during the 2nd quarter. New Century Financial Group LLC now owns 2,247 shares of the financial services provider’s stock worth $308,000 after purchasing an additional 626 shares during the period. Cetera Investment Advisers increased its position in Intercontinental Exchange by 3.2% during the 2nd quarter. Cetera Investment Advisers now owns 63,902 shares of the financial services provider’s stock worth $8,748,000 after purchasing an additional 2,006 shares during the period. Finally, SPC Financial Inc. increased its position in Intercontinental Exchange by 2.2% during the 2nd quarter. SPC Financial Inc. now owns 26,234 shares of the financial services provider’s stock worth $3,591,000 after purchasing an additional 572 shares during the period. 89.30% of the stock is owned by hedge funds and other institutional investors.

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.