Palisade Capital Management LP Has $18.52 Million Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Palisade Capital Management LP cut its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 1.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 144,194 shares of the financial services provider’s stock after selling 1,464 shares during the period. Palisade Capital Management LP’s holdings in Intercontinental Exchange were worth $18,519,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Pettyjohn Wood & White Inc. increased its stake in shares of Intercontinental Exchange by 0.5% during the 4th quarter. Pettyjohn Wood & White Inc. now owns 15,813 shares of the financial services provider’s stock worth $2,031,000 after purchasing an additional 75 shares during the last quarter. Western Pacific Wealth Management LP increased its stake in shares of Intercontinental Exchange by 4.9% during the 4th quarter. Western Pacific Wealth Management LP now owns 1,715 shares of the financial services provider’s stock worth $220,000 after purchasing an additional 80 shares during the last quarter. Assetmark Inc. increased its stake in shares of Intercontinental Exchange by 0.8% during the 4th quarter. Assetmark Inc. now owns 10,224 shares of the financial services provider’s stock worth $1,313,000 after purchasing an additional 86 shares during the last quarter. UNIVEST FINANCIAL Corp increased its stake in shares of Intercontinental Exchange by 4.2% during the 4th quarter. UNIVEST FINANCIAL Corp now owns 2,230 shares of the financial services provider’s stock worth $286,000 after purchasing an additional 90 shares during the last quarter. Finally, Vinva Investment Management Ltd grew its stake in Intercontinental Exchange by 0.6% in the 3rd quarter. Vinva Investment Management Ltd now owns 16,736 shares of the financial services provider’s stock valued at $1,855,000 after buying an additional 93 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Trading Up 0.3 %

Shares of Intercontinental Exchange stock opened at $135.69 on Friday. The company has a market capitalization of $77.83 billion, a price-to-earnings ratio of 31.12, a PEG ratio of 2.53 and a beta of 1.06. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.76. Intercontinental Exchange, Inc. has a 12-month low of $104.49 and a 12-month high of $140.43. The firm’s 50-day moving average price is $133.59 and its two-hundred day moving average price is $131.09.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.48. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The business’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.41 earnings per share. On average, analysts forecast that Intercontinental Exchange, Inc. will post 5.96 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Judith A. Sprieser sold 2,238 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $137.36, for a total value of $307,411.68. Following the sale, the director now directly owns 29,347 shares in the company, valued at approximately $4,031,103.92. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Judith A. Sprieser sold 2,238 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $137.36, for a total value of $307,411.68. Following the sale, the director now directly owns 29,347 shares in the company, valued at approximately $4,031,103.92. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Intercontinental Exchange, Inc purchased 350,880 shares of Intercontinental Exchange stock in a transaction dated Thursday, April 25th. The stock was bought at an average price of $0.87 per share, for a total transaction of $305,265.60. Following the completion of the purchase, the insider now owns 649,934 shares in the company, valued at approximately $565,442.58. The disclosure for this purchase can be found here. In the last three months, insiders have sold 63,234 shares of company stock worth $8,668,823. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ICE shares. Citigroup upped their price target on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. JPMorgan Chase & Co. upped their price objective on Intercontinental Exchange from $147.00 to $151.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Keefe, Bruyette & Woods dropped their target price on Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. Rosenblatt Securities reissued a “buy” rating and issued a $164.00 target price on shares of Intercontinental Exchange in a research report on Friday, May 3rd. Finally, Barclays lowered their price target on shares of Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $148.29.

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.