King Luther Capital Management Corp Acquires 45,403 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

King Luther Capital Management Corp increased its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 677.8% during the second quarter, HoldingsChannel.com reports. The fund owned 52,102 shares of the financial services provider’s stock after buying an additional 45,403 shares during the quarter. King Luther Capital Management Corp’s holdings in Intercontinental Exchange were worth $7,132,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bridges Investment Management Inc. raised its holdings in shares of Intercontinental Exchange by 119.6% in the 2nd quarter. Bridges Investment Management Inc. now owns 397,198 shares of the financial services provider’s stock worth $54,372,000 after purchasing an additional 216,304 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of Intercontinental Exchange by 253.5% in the second quarter. Canada Pension Plan Investment Board now owns 462,350 shares of the financial services provider’s stock valued at $63,291,000 after buying an additional 331,574 shares during the period. Benjamin F. Edwards & Company Inc. lifted its position in shares of Intercontinental Exchange by 139.6% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 3,634 shares of the financial services provider’s stock valued at $497,000 after buying an additional 2,117 shares during the last quarter. Ieq Capital LLC grew its stake in shares of Intercontinental Exchange by 9.2% during the 2nd quarter. Ieq Capital LLC now owns 26,919 shares of the financial services provider’s stock worth $3,685,000 after acquiring an additional 2,265 shares during the period. Finally, Intech Investment Management LLC grew its stake in shares of Intercontinental Exchange by 1.2% during the 2nd quarter. Intech Investment Management LLC now owns 15,527 shares of the financial services provider’s stock worth $2,125,000 after acquiring an additional 189 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on ICE. Barclays upped their price objective on shares of Intercontinental Exchange from $159.00 to $167.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $168.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, August 6th. JPMorgan Chase & Co. lifted their price target on Intercontinental Exchange from $151.00 to $171.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Finally, StockNews.com downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Intercontinental Exchange presently has an average rating of “Moderate Buy” and a consensus price target of $158.08.

Insider Transactions at Intercontinental Exchange

In related news, CTO Mayur Kapani sold 395 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $141.13, for a total value of $55,746.35. Following the completion of the sale, the chief technology officer now owns 64,471 shares of the company’s stock, valued at $9,098,792.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 58,389 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $141.68, for a total transaction of $8,272,553.52. Following the completion of the transaction, the chief executive officer now owns 1,179,993 shares of the company’s stock, valued at $167,181,408.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Mayur Kapani sold 395 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $141.13, for a total value of $55,746.35. Following the transaction, the chief technology officer now directly owns 64,471 shares of the company’s stock, valued at approximately $9,098,792.23. The disclosure for this sale can be found here. In the last three months, insiders have sold 68,166 shares of company stock worth $9,768,190. 1.10% of the stock is currently owned by insiders.

Intercontinental Exchange Trading Up 0.6 %

NYSE:ICE opened at $159.82 on Friday. The firm has a market capitalization of $91.67 billion, a P/E ratio of 36.66, a P/E/G ratio of 2.81 and a beta of 1.08. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The company has a fifty day moving average of $155.82 and a 200 day moving average of $142.75. Intercontinental Exchange, Inc. has a 52 week low of $104.49 and a 52 week high of $163.71.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.03. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The company had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same period in the prior year, the business posted $1.43 earnings per share. Intercontinental Exchange’s revenue for the quarter was up 22.7% on a year-over-year basis. On average, research analysts predict that Intercontinental Exchange, Inc. will post 6.04 earnings per share for the current year.

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.