Dynamic Technology Lab Private Ltd Buys New Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Dynamic Technology Lab Private Ltd purchased a new position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 3,300 shares of the financial services provider’s stock, valued at approximately $530,000.

A number of other hedge funds have also bought and sold shares of the business. Quintet Private Bank Europe S.A. lifted its holdings in Intercontinental Exchange by 13.8% during the third quarter. Quintet Private Bank Europe S.A. now owns 511 shares of the financial services provider’s stock worth $82,000 after acquiring an additional 62 shares during the period. Raleigh Capital Management Inc. raised its stake in shares of Intercontinental Exchange by 26.4% in the third quarter. Raleigh Capital Management Inc. now owns 302 shares of the financial services provider’s stock valued at $49,000 after buying an additional 63 shares during the period. Integrated Advisors Network LLC raised its stake in shares of Intercontinental Exchange by 4.0% in the third quarter. Integrated Advisors Network LLC now owns 1,714 shares of the financial services provider’s stock valued at $275,000 after buying an additional 66 shares during the period. American National Bank raised its stake in shares of Intercontinental Exchange by 13.8% in the second quarter. American National Bank now owns 569 shares of the financial services provider’s stock valued at $78,000 after buying an additional 69 shares during the period. Finally, Catalyst Capital Advisors LLC raised its stake in shares of Intercontinental Exchange by 6.2% in the third quarter. Catalyst Capital Advisors LLC now owns 1,197 shares of the financial services provider’s stock valued at $192,000 after buying an additional 70 shares during the period. 89.30% of the stock is currently owned by institutional investors.

Insider Transactions at Intercontinental Exchange

In other news, CFO Warren Gardiner sold 750 shares of the company’s stock in a transaction dated 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 directly owns 16,576 shares in the company, valued at approximately $2,675,863.68. This represents a 4.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Benjamin Jackson sold 5,828 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $160.00, for a total value of $932,480.00. Following the completion of the transaction, the president now owns 156,163 shares of the company’s stock, valued at $24,986,080. The trade was a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 9,696 shares of company stock worth $1,554,559. 1.10% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $160.96 on Friday. Intercontinental Exchange, Inc. has a 52 week low of $111.82 and a 52 week high of $167.99. The business has a 50-day simple moving average of $160.62 and a 200 day simple moving average of $151.85. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. The stock has a market cap of $92.42 billion, a price-to-earnings ratio of 38.14, a PEG ratio of 2.66 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, hitting the consensus estimate of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The business had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same period in the previous year, the business earned $1.46 earnings per share. The firm’s revenue was up 17.3% on a year-over-year basis. On average, research analysts forecast that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ICE shares. JPMorgan Chase & Co. boosted their target price on Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Piper Sandler boosted their target price on Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research note on Friday, November 1st. Bank of America boosted their price objective on Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, TD Cowen assumed coverage on Intercontinental Exchange in a research note on Thursday, September 26th. They set a “buy” rating and a $182.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

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.