Edgestream Partners L.P. Buys New Shares in Intercontinental Exchange, Inc. (NYSE:ICE)

Edgestream Partners L.P. purchased a new stake in Intercontinental Exchange, Inc. (NYSE:ICE) during the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 3,212 shares of the financial services provider’s stock, valued at approximately $516,000.

Other institutional investors also recently made changes to their positions in the company. FMR LLC boosted its holdings in Intercontinental Exchange by 44.1% in the third quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock valued at $1,260,449,000 after acquiring an additional 2,401,630 shares during the last quarter. Parnassus Investments LLC raised its holdings in shares of Intercontinental Exchange by 4.0% in the 3rd quarter. Parnassus Investments LLC now owns 7,838,727 shares of the financial services provider’s stock worth $1,259,213,000 after purchasing an additional 299,037 shares during the period. Legal & General Group Plc lifted its stake in shares of Intercontinental Exchange by 4.5% in the 2nd quarter. Legal & General Group Plc now owns 4,453,286 shares of the financial services provider’s stock valued at $609,609,000 after purchasing an additional 191,763 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Intercontinental Exchange by 9.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,648,437 shares of the financial services provider’s stock worth $586,085,000 after purchasing an additional 305,220 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Intercontinental Exchange by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,142,092 shares of the financial services provider’s stock worth $504,746,000 after purchasing an additional 21,615 shares in the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Up 0.2 %

Shares of NYSE:ICE opened at $156.37 on Friday. The firm has a market cap of $89.78 billion, a PE ratio of 37.05, a price-to-earnings-growth ratio of 2.58 and a beta of 1.08. The company has a fifty day simple moving average of $160.43 and a 200 day simple moving average of $152.40. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. Intercontinental Exchange, Inc. has a 12-month low of $111.82 and a 12-month high of $167.99.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, hitting the consensus estimate of $1.55. The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The company’s revenue was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.46 EPS. On average, equities research analysts anticipate that Intercontinental Exchange, Inc. will post 6.07 EPS for the current fiscal year.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, COO Stuart Glen Williams sold 468 shares of Intercontinental Exchange stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $76,195.08. Following the completion of the transaction, the chief operating officer now owns 13,530 shares of the company’s stock, valued at $2,202,819.30. The trade was a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Warren Gardiner sold 750 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $161.43, for a total transaction of $121,072.50. Following the sale, the chief financial officer now directly owns 16,576 shares in the company, valued at $2,675,863.68. This trade represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,696 shares of company stock valued at $1,554,559 over the last three months. 1.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Bank of America lifted their price target 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a research report on Friday, November 1st. Morgan Stanley raised their price objective on Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Piper Sandler boosted their price objective on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and an average target price of $174.13.

Intercontinental Exchange 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.