Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by Investors Research Corp

Investors Research Corp lessened its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 52.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,250 shares of the financial services provider’s stock after selling 4,727 shares during the period. Investors Research Corp’s holdings in Intercontinental Exchange were worth $683,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in the stock. New Millennium Group LLC purchased a new stake in shares of Intercontinental Exchange during the 2nd quarter worth $25,000. International Assets Investment Management LLC purchased a new stake in Intercontinental Exchange during the 2nd quarter worth about $25,000. Fairscale Capital LLC acquired a new stake in Intercontinental Exchange in the 2nd quarter worth about $25,000. Wolff Wiese Magana LLC lifted its position in Intercontinental Exchange by 1,470.0% during the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after buying an additional 147 shares in the last quarter. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Intercontinental Exchange during the third quarter valued at about $26,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group upped their price objective on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Bank of America lifted their target price on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $168.00 price target on shares of Intercontinental Exchange in a report on Tuesday, August 6th. JPMorgan Chase & Co. boosted their target price on Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average target price of $174.13.

Intercontinental Exchange Price Performance

ICE stock traded up $0.21 on Thursday, hitting $155.98. 80,395 shares of the company’s stock traded hands, compared to its average volume of 2,563,105. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. The stock has a fifty day moving average of $160.73 and a 200-day moving average of $150.67. The stock has a market cap of $89.56 billion, a price-to-earnings ratio of 36.91, a P/E/G ratio of 2.61 and a beta of 1.08. Intercontinental Exchange, Inc. has a 1-year low of $111.82 and a 1-year high of $167.99.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter last year, the business posted $1.46 earnings per share. The firm’s revenue was up 17.3% compared to the same quarter last year. On average, analysts forecast that Intercontinental Exchange, Inc. will post 6.07 EPS for the current fiscal year.

Insider Buying and Selling

In other news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $159.57, for a total transaction of $326,799.36. Following the completion of the transaction, the general counsel now directly owns 44,865 shares in the company, valued at $7,159,108.05. This trade represents a 4.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher Scott Edmonds sold 602 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total value of $98,011.62. Following the sale, the insider now directly owns 14,034 shares in the company, valued at $2,284,875.54. This trade represents a 4.11 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,489 shares of company stock valued at $1,202,259. 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.