Marshall Wace LLP Raises Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Marshall Wace LLP lifted its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 14.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,117,501 shares of the financial services provider’s stock after buying an additional 273,003 shares during the period. Marshall Wace LLP owned approximately 0.37% of Intercontinental Exchange worth $289,865,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ICE. Scarborough Advisors LLC purchased a new position in shares of Intercontinental Exchange in the 4th quarter worth approximately $25,000. Annapolis Financial Services LLC boosted its stake in Intercontinental Exchange by 1,018.8% in the 1st quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 163 shares in the last quarter. New Millennium Group LLC acquired a new stake in Intercontinental Exchange in the 2nd quarter worth approximately $25,000. International Assets Investment Management LLC acquired a new stake in Intercontinental Exchange in the 2nd quarter worth approximately $25,000. Finally, Fairscale Capital LLC acquired a new stake in Intercontinental Exchange in the 2nd quarter worth approximately $25,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Buying and Selling

In related news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the business’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $136.66, for a total value of $259,380.68. Following the completion of the sale, the general counsel now owns 46,815 shares of the company’s stock, valued at approximately $6,397,737.90. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CTO Mayur Kapani sold 395 shares of the business’s 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 completion of the sale, the chief technology officer now owns 64,471 shares of the company’s stock, valued at approximately $9,098,792.23. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 1,898 shares of the business’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $136.66, for a total transaction of $259,380.68. Following the completion of the sale, the general counsel now directly owns 46,815 shares of the company’s stock, valued at approximately $6,397,737.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 68,166 shares of company stock valued at $9,768,190. 1.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Barclays lifted their target price on shares of Intercontinental Exchange from $159.00 to $167.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. The Goldman Sachs Group upgraded shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $143.00 to $167.00 in a research note on Monday, July 1st. StockNews.com cut shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Friday, September 6th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $168.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and a consensus target price of $158.08.

Intercontinental Exchange Stock Performance

ICE opened at $159.96 on Tuesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a fifty day moving average price of $156.07 and a 200 day moving average price of $142.95. Intercontinental Exchange, Inc. has a 1 year low of $104.49 and a 1 year high of $163.71. The stock has a market cap of $91.75 billion, a P/E ratio of 36.69, a P/E/G ratio of 2.81 and a beta of 1.08.

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

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.