Intercontinental Exchange Inc. $ICE Shares Bought by Edgestream Partners L.P.

Edgestream Partners L.P. grew its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 222.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,768 shares of the financial services provider’s stock after acquiring an additional 3,289 shares during the quarter. Edgestream Partners L.P.’s holdings in Intercontinental Exchange were worth $875,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Greenwich Wealth Management LLC boosted its stake in Intercontinental Exchange by 0.9% in the 2nd quarter. Greenwich Wealth Management LLC now owns 18,762 shares of the financial services provider’s stock worth $3,442,000 after purchasing an additional 175 shares in the last quarter. Lido Advisors LLC raised its holdings in shares of Intercontinental Exchange by 45.0% in the second quarter. Lido Advisors LLC now owns 110,101 shares of the financial services provider’s stock worth $20,200,000 after buying an additional 34,167 shares during the last quarter. First National Advisers LLC lifted its stake in shares of Intercontinental Exchange by 4.8% during the second quarter. First National Advisers LLC now owns 10,453 shares of the financial services provider’s stock worth $1,918,000 after buying an additional 476 shares during the period. New York State Common Retirement Fund grew its holdings in shares of Intercontinental Exchange by 8.3% during the second quarter. New York State Common Retirement Fund now owns 733,753 shares of the financial services provider’s stock valued at $134,622,000 after buying an additional 56,500 shares during the last quarter. Finally, West Family Investments Inc. increased its position in shares of Intercontinental Exchange by 24.8% in the 2nd quarter. West Family Investments Inc. now owns 2,157 shares of the financial services provider’s stock valued at $396,000 after acquiring an additional 428 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of NYSE ICE opened at $157.63 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $89.88 billion, a price-to-earnings ratio of 28.71, a PEG ratio of 2.40 and a beta of 1.05. The firm’s 50 day simple moving average is $155.39 and its 200-day simple moving average is $170.71. Intercontinental Exchange Inc. has a 12 month low of $142.29 and a 12 month high of $189.35.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, October 30th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.71. Intercontinental Exchange had a net margin of 25.24% and a return on equity of 13.79%. The firm had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the previous year, the business posted $1.55 EPS. The business’s revenue was up 2.6% compared to the same quarter last year. Analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. UBS Group lowered their price target on Intercontinental Exchange from $215.00 to $200.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Exchange in a report on Wednesday, October 8th. Raymond James Financial raised shares of Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price target for the company in a research report on Monday, October 13th. Finally, TD Cowen dropped their price objective on shares of Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating on the stock in a report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $194.70.

Insiders Place Their Bets

In related news, CFO Warren Gardiner sold 1,572 shares of the company’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $153.65, for a total value of $241,537.80. Following the completion of the transaction, the chief financial officer owned 20,534 shares of the company’s stock, valued at approximately $3,155,049.10. This represents a 7.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 2,081 shares of the stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $151.00, for a total value of $314,231.00. Following the transaction, the general counsel owned 44,212 shares in the company, valued at $6,676,012. This represents a 4.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 168,044 shares of company stock valued at $25,832,095. Insiders own 1.00% 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.