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

Commonwealth Financial Services LLC purchased a new position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 2,025 shares of the financial services provider’s stock, valued at approximately $286,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Scarborough Advisors LLC acquired a new position in shares of Intercontinental Exchange during the 4th quarter valued at $25,000. Annapolis Financial Services LLC increased its stake in Intercontinental Exchange by 1,018.8% in the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 163 shares in the last quarter. New Millennium Group LLC acquired a new position in shares of Intercontinental Exchange during the second quarter valued at about $25,000. International Assets Investment Management LLC bought a new position in shares of Intercontinental Exchange during the 2nd quarter worth about $25,000. Finally, Fairscale Capital LLC acquired a new stake in shares of Intercontinental Exchange in the 2nd quarter valued at about $25,000. 89.30% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Christopher Scott Edmonds sold 1,000 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $148.60, for a total transaction of $148,600.00. Following the completion of the sale, the insider now directly owns 14,636 shares of the company’s stock, valued at approximately $2,174,909.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CAO James W. Namkung sold 1,043 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $150.00, for a total value of $156,450.00. Following the transaction, the chief accounting officer now owns 17,836 shares in the company, valued at $2,675,400. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Christopher Scott Edmonds sold 1,000 shares of the stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $148.60, for a total value of $148,600.00. Following the transaction, the insider now directly owns 14,636 shares of the company’s stock, valued at $2,174,909.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,166 shares of company stock valued at $9,768,190. Insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Up 0.6 %

Intercontinental Exchange stock opened at $159.84 on Monday. Intercontinental Exchange, Inc. has a fifty-two week low of $104.49 and a fifty-two week high of $163.71. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.99 and a current ratio of 0.99. The firm’s 50-day simple moving average is $155.82 and its 200 day simple moving average is $142.80. The stock has a market cap of $91.68 billion, a PE ratio of 36.66, a price-to-earnings-growth ratio of 2.81 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last announced 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. The firm had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The company’s revenue was up 22.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.43 EPS. Research analysts predict that Intercontinental Exchange, Inc. will post 6.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ICE. StockNews.com downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Friday, September 6th. JPMorgan Chase & Co. increased their target price on Intercontinental Exchange from $151.00 to $171.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. The Goldman Sachs Group upgraded shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and boosted their price target for the company from $143.00 to $167.00 in a research note on Monday, July 1st. Barclays raised their price objective on shares of Intercontinental Exchange from $159.00 to $167.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. One equities 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $158.08.

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.