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

Intercontinental Exchange (NYSE:ICE) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

ICE has been the topic of several other reports. Citigroup upped their target price on Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Keefe, Bruyette & Woods cut their target price on Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. Morgan Stanley upped their target price on Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Argus reissued a “buy” rating and issued a $153.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, May 21st. Finally, Barclays cut their price objective on shares of Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $151.29.

Intercontinental Exchange Stock Up 2.8 %

Shares of ICE stock traded up $3.89 during trading hours on Tuesday, reaching $140.82. 3,303,060 shares of the company’s stock were exchanged, compared to its average volume of 2,356,674. The stock’s 50 day moving average is $134.62 and its 200-day moving average is $133.00. The company has a market cap of $80.77 billion, a price-to-earnings ratio of 32.30, a P/E/G ratio of 2.55 and a beta of 1.06. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.76. Intercontinental Exchange has a fifty-two week low of $104.49 and a fifty-two week high of $140.98.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.48. The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. The business’s quarterly revenue was up 20.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.41 earnings per share. Analysts predict that Intercontinental Exchange will post 5.96 earnings per share for the current fiscal year.

Insider Transactions at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the company’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $136.66, for a total value of $259,380.68. Following the completion of the transaction, the general counsel now owns 46,815 shares of the company’s stock, valued at approximately $6,397,737.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the company’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $136.66, for a total transaction of $259,380.68. Following the completion of the transaction, the general counsel now directly owns 46,815 shares in the company, valued at $6,397,737.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 341 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $131.74, for a total transaction of $44,923.34. Following the transaction, the general counsel now directly owns 48,713 shares in the company, valued at $6,417,450.62. The disclosure for this sale can be found here. Insiders have sold a total of 62,894 shares of company stock valued at $8,620,792 in the last ninety days. 1.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Intercontinental Exchange

Large investors have recently bought and sold shares of the company. Truist Financial Corp grew its holdings in shares of Intercontinental Exchange by 31.6% during the third quarter. Truist Financial Corp now owns 154,136 shares of the financial services provider’s stock worth $16,958,000 after buying an additional 37,054 shares in the last quarter. Axxcess Wealth Management LLC purchased a new position in Intercontinental Exchange in the 3rd quarter worth approximately $1,299,000. AXQ Capital LP grew its position in shares of Intercontinental Exchange by 8.3% in the third quarter. AXQ Capital LP now owns 2,600 shares of the financial services provider’s stock valued at $286,000 after purchasing an additional 200 shares in the last quarter. Alps Advisors Inc. increased its holdings in shares of Intercontinental Exchange by 30.8% in the third quarter. Alps Advisors Inc. now owns 5,463 shares of the financial services provider’s stock valued at $601,000 after purchasing an additional 1,286 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its position in Intercontinental Exchange by 3.3% during the third quarter. Adage Capital Partners GP L.L.C. now owns 569,059 shares of the financial services provider’s stock worth $62,608,000 after buying an additional 18,089 shares in the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

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.