Intercontinental Exchange, Inc. (NYSE:ICE) Shares Purchased by Bridges Investment Management Inc.

Bridges Investment Management Inc. boosted its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 119.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 397,198 shares of the financial services provider’s stock after buying an additional 216,304 shares during the period. Bridges Investment Management Inc. owned 0.07% of Intercontinental Exchange worth $54,372,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board boosted its stake in Intercontinental Exchange by 253.5% during the second quarter. Canada Pension Plan Investment Board now owns 462,350 shares of the financial services provider’s stock worth $63,291,000 after buying an additional 331,574 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in Intercontinental Exchange by 139.6% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,634 shares of the financial services provider’s stock worth $497,000 after buying an additional 2,117 shares during the last quarter. Ieq Capital LLC boosted its stake in Intercontinental Exchange by 9.2% during the second quarter. Ieq Capital LLC now owns 26,919 shares of the financial services provider’s stock worth $3,685,000 after buying an additional 2,265 shares during the last quarter. Intech Investment Management LLC boosted its stake in Intercontinental Exchange by 1.2% during the second quarter. Intech Investment Management LLC now owns 15,527 shares of the financial services provider’s stock worth $2,125,000 after buying an additional 189 shares during the last quarter. Finally, XTX Topco Ltd boosted its stake in Intercontinental Exchange by 351.8% during the second quarter. XTX Topco Ltd now owns 12,126 shares of the financial services provider’s stock worth $1,660,000 after buying an additional 9,442 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. 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 note on Monday. Citigroup lifted their target price on Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Barclays lifted their target price on Intercontinental Exchange from $159.00 to $167.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. The Goldman Sachs Group upgraded 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 research report on Monday, July 1st. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $168.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $158.08.

Intercontinental Exchange Price Performance

Shares of NYSE ICE opened at $158.87 on Friday. The stock’s 50-day moving average is $155.59 and its two-hundred day moving average is $142.60. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.99. Intercontinental Exchange, Inc. has a 1-year low of $104.49 and a 1-year high of $163.71. The company has a market cap of $91.13 billion, a price-to-earnings ratio of 36.44, a price-to-earnings-growth ratio of 2.81 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.03. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The company had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the prior year, the business earned $1.43 EPS. Intercontinental Exchange’s revenue was up 22.7% on a year-over-year basis. Analysts forecast that Intercontinental Exchange, Inc. will post 6.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the company’s stock in a transaction dated 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 transaction, the general counsel now directly owns 46,815 shares of the company’s stock, valued at approximately $6,397,737.90. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CAO James W. Namkung sold 1,043 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $150.00, for a total transaction of $156,450.00. Following the completion of the transaction, the chief accounting officer now directly owns 17,836 shares of the company’s stock, valued at approximately $2,675,400. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 1,898 shares of the company’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $136.66, for a total value of $259,380.68. Following the transaction, the general counsel now directly owns 46,815 shares of the company’s stock, valued at $6,397,737.90. The disclosure for this sale can be found here. Insiders have sold a total of 67,096 shares of company stock worth $9,593,983 in the last quarter. 1.10% of the stock is owned by company insiders.

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.