Intercontinental Exchange, Inc. (NYSE:ICE) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Intercontinental Exchange, Inc. (NYSE:ICE) have been given a consensus rating of “Moderate Buy” by the fourteen analysts that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $154.93.

ICE has been the topic of several research reports. Barclays upped their price target on Intercontinental Exchange from $159.00 to $167.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. StockNews.com cut shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Friday. The Goldman Sachs Group upgraded shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and increased their price objective for the company 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 target price on shares of Intercontinental Exchange in a report on Tuesday, August 6th. Finally, Argus reissued a “buy” rating and issued a $153.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, May 21st.

Insider Transactions at Intercontinental Exchange

In related news, CTO Mayur Kapani sold 395 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $141.13, for a total transaction of $55,746.35. Following the completion of the sale, the chief technology officer now directly owns 64,471 shares of the company’s stock, valued at approximately $9,098,792.23. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CTO Mayur Kapani sold 395 shares of the company’s stock in a transaction 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 transaction, the chief technology officer now directly owns 64,471 shares of the company’s stock, valued at approximately $9,098,792.23. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Judith A. Sprieser sold 1,941 shares of Intercontinental Exchange stock in a transaction dated Tuesday, August 27th. The shares were 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 in the company, valued at approximately $4,323,846.52. The disclosure for this sale can be found here. Insiders have sold a total of 66,346 shares of company stock valued at $9,472,911 over the last 90 days. 1.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Intercontinental Exchange

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Intercontinental Exchange by 7.5% during the first quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock worth $6,978,218,000 after purchasing an additional 3,536,913 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Intercontinental Exchange by 35.0% during the 4th quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock worth $2,105,994,000 after buying an additional 4,251,371 shares during the last quarter. Capital World Investors grew its holdings in shares of Intercontinental Exchange by 35.6% in the 4th quarter. Capital World Investors now owns 9,643,762 shares of the financial services provider’s stock valued at $1,238,559,000 after acquiring an additional 2,530,119 shares in the last quarter. Parnassus Investments LLC increased its position in shares of Intercontinental Exchange by 23.8% in the fourth quarter. Parnassus Investments LLC now owns 8,429,851 shares of the financial services provider’s stock valued at $1,082,646,000 after acquiring an additional 1,621,737 shares during the last quarter. Finally, Norges Bank bought a new stake in Intercontinental Exchange during the fourth quarter worth about $839,259,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Trading Up 0.8 %

Shares of Intercontinental Exchange stock opened at $161.70 on Tuesday. The stock has a market capitalization of $92.75 billion, a P/E ratio of 37.09, a price-to-earnings-growth ratio of 2.82 and a beta of 1.08. Intercontinental Exchange has a 12-month low of $104.49 and a 12-month high of $163.71. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The company has a 50-day simple moving average of $152.59 and a 200 day simple moving average of $141.38.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.03. The firm had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The company’s revenue was up 22.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.43 EPS. Research analysts expect that Intercontinental Exchange will post 6.04 earnings per share for the current fiscal year.

Intercontinental Exchange Company Profile

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.