Commonwealth Financial Services LLC Invests $286,000 in Intercontinental Exchange, Inc. (NYSE:ICE)

Commonwealth Financial Services LLC purchased a new stake in Intercontinental Exchange, Inc. (NYSE:ICE) during the 2nd quarter, HoldingsChannel reports. The fund purchased 2,025 shares of the financial services provider’s stock, valued at approximately $286,000.

A number of other institutional investors also recently modified their holdings of ICE. Wellington Management Group LLP raised its holdings in Intercontinental Exchange by 35.0% during the 4th quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock valued at $2,105,994,000 after acquiring an additional 4,251,371 shares during the period. Vanguard Group Inc. grew its position in shares of Intercontinental Exchange by 7.5% in the first quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock valued at $6,978,218,000 after purchasing an additional 3,536,913 shares in the last quarter. Capital World Investors raised its stake in shares of Intercontinental Exchange by 35.6% during the 4th quarter. Capital World Investors now owns 9,643,762 shares of the financial services provider’s stock valued at $1,238,559,000 after purchasing an additional 2,530,119 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in Intercontinental Exchange by 303.1% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,381,314 shares of the financial services provider’s stock worth $305,832,000 after purchasing an additional 1,790,493 shares in the last quarter. Finally, Parnassus Investments LLC lifted its holdings in Intercontinental Exchange by 23.8% during the 4th quarter. Parnassus Investments LLC now owns 8,429,851 shares of the financial services provider’s stock worth $1,082,646,000 after purchasing an additional 1,621,737 shares in the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ICE has been the subject of a number of recent analyst reports. The Goldman Sachs Group raised Intercontinental Exchange from a “neutral” rating to a “buy” rating and lifted their target price for the company from $143.00 to $167.00 in a report on Monday, July 1st. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $168.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Citigroup boosted their price target on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Finally, Barclays upped their price target on shares of Intercontinental Exchange from $159.00 to $167.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $158.08.

Intercontinental Exchange Trading Up 0.6 %

NYSE ICE opened at $159.84 on Monday. 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 stock’s 50-day simple moving average is $155.82 and its two-hundred day simple moving average is $142.80. Intercontinental Exchange, Inc. has a twelve month low of $104.49 and a twelve month high of $163.71. The company has a market capitalization of $91.68 billion, a price-to-earnings ratio of 36.66, a PEG ratio of 2.81 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.03. The company had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. Intercontinental Exchange’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same period last year, the firm posted $1.43 EPS. Research analysts forecast that Intercontinental Exchange, Inc. will post 6.04 EPS for the current fiscal year.

Insider Activity

In related news, CTO Mayur Kapani sold 395 shares of Intercontinental Exchange stock in a transaction 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 owns 64,471 shares in the company, valued at approximately $9,098,792.23. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Warren Gardiner sold 750 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 16,576 shares of the company’s stock, valued at $2,675,863.68. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 stock was sold at an average price of $141.13, for a total transaction of $55,746.35. Following the completion of the transaction, the chief technology officer now owns 64,471 shares in the company, valued at approximately $9,098,792.23. The disclosure for this sale can be found here. In the last 90 days, insiders sold 68,166 shares of company stock valued at $9,768,190. Corporate insiders own 1.10% 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.