King Luther Capital Management Corp Has $7.13 Million Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

King Luther Capital Management Corp boosted its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 677.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 52,102 shares of the financial services provider’s stock after purchasing an additional 45,403 shares during the quarter. King Luther Capital Management Corp’s holdings in Intercontinental Exchange were worth $7,132,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised 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 buying an additional 3,536,913 shares in the last quarter. Wellington Management Group LLP increased its stake 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 worth $2,105,994,000 after acquiring an additional 4,251,371 shares during the period. Capital World Investors raised its holdings in Intercontinental Exchange by 35.6% in 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 acquiring an additional 2,530,119 shares in the last quarter. Parnassus Investments LLC lifted its position in shares of 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 valued at $1,082,646,000 after acquiring an additional 1,621,737 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Intercontinental Exchange by 4.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,280,194 shares of the financial services provider’s stock worth $725,657,000 after purchasing an additional 218,516 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

Insiders Place Their Bets

In other news, insider Christopher Scott Edmonds sold 602 shares of Intercontinental Exchange stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $98,011.62. Following the completion of the sale, the insider now owns 14,034 shares in the company, valued at approximately $2,284,875.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Christopher Scott Edmonds sold 602 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total value of $98,011.62. Following the completion of the sale, the insider now directly owns 14,034 shares of the company’s stock, valued at approximately $2,284,875.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $121,072.50. Following the completion of the transaction, the chief financial officer now owns 16,576 shares in the company, valued at approximately $2,675,863.68. 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. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on ICE shares. Barclays boosted their price target on Intercontinental Exchange from $159.00 to $167.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft raised their target price 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. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $168.00 price target on shares of Intercontinental Exchange in a report on Tuesday, August 6th. StockNews.com downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Friday, September 6th. Finally, JPMorgan Chase & Co. boosted their price objective on Intercontinental Exchange from $151.00 to $171.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $158.08.

Intercontinental Exchange Price Performance

ICE stock opened at $159.82 on Friday. 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 firm has a market cap of $91.67 billion, a price-to-earnings ratio of 36.66, a PEG ratio of 2.81 and a beta of 1.08. The company’s fifty day simple moving average is $155.82 and its 200 day simple moving average is $142.75. Intercontinental Exchange, Inc. has a 12-month low of $104.49 and a 12-month high of $163.71.

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

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.