Concurrent Investment Advisors LLC Purchases 1,192 Shares of Intercontinental Exchange Inc. $ICE

Concurrent Investment Advisors LLC increased its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 7.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,316 shares of the financial services provider’s stock after purchasing an additional 1,192 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Intercontinental Exchange were worth $3,177,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tsfg LLC increased its position in Intercontinental Exchange by 187.3% during the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider’s stock valued at $27,000 after buying an additional 103 shares in the last quarter. Rakuten Securities Inc. boosted its position in Intercontinental Exchange by 595.8% during the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 143 shares in the last quarter. Activest Wealth Management boosted its position in Intercontinental Exchange by 4,050.0% during the first quarter. Activest Wealth Management now owns 166 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 162 shares in the last quarter. McClarren Financial Advisors Inc. purchased a new position in Intercontinental Exchange during the first quarter worth approximately $30,000. Finally, Global Trust Asset Management LLC purchased a new position in Intercontinental Exchange during the first quarter worth approximately $31,000. 89.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on ICE. JPMorgan Chase & Co. increased their target price on Intercontinental Exchange from $195.00 to $203.00 and gave the company an “overweight” rating in a report on Thursday, September 25th. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercontinental Exchange in a research report on Wednesday, October 8th. Raymond James Financial upgraded 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. Morgan Stanley cut their price target on Intercontinental Exchange from $192.00 to $188.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 1st. Finally, UBS Group raised their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $199.60.

Insider Transactions at Intercontinental Exchange

In related news, CTO Mayur Kapani sold 10,082 shares of the firm’s stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $158.88, for a total value of $1,601,828.16. Following the completion of the transaction, the chief technology officer owned 65,240 shares of the company’s stock, valued at approximately $10,365,331.20. This trade represents a 13.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Duriya M. Farooqui sold 2,036 shares of the firm’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $178.34, for a total transaction of $363,100.24. Following the completion of the transaction, the director directly owned 14,299 shares of the company’s stock, valued at $2,550,083.66. This represents a 12.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 240,956 shares of company stock valued at $43,789,542 in the last 90 days. 1.00% of the stock is owned by corporate insiders.

Intercontinental Exchange Price Performance

ICE stock opened at $158.85 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. Intercontinental Exchange Inc. has a 12-month low of $142.29 and a 12-month high of $189.35. The stock has a 50-day moving average price of $173.41 and a two-hundred day moving average price of $173.99. The company has a market cap of $90.93 billion, a PE ratio of 30.49, a price-to-earnings-growth ratio of 1.93 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.04. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The firm had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter last year, the company posted $1.52 earnings per share. Intercontinental Exchange’s revenue was up 9.8% on a year-over-year basis. As a group, research analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

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.