Intercontinental Exchange, Inc. (NYSE:ICE) Shares Acquired by Parnassus Investments LLC

Parnassus Investments LLC lifted its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 4.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,838,727 shares of the financial services provider’s stock after buying an additional 299,037 shares during the quarter. Intercontinental Exchange comprises approximately 2.7% of Parnassus Investments LLC’s holdings, making the stock its 10th largest position. Parnassus Investments LLC owned 1.37% of Intercontinental Exchange worth $1,259,213,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. New Millennium Group LLC bought a new position in Intercontinental Exchange during the second quarter worth $25,000. International Assets Investment Management LLC bought a new position in Intercontinental Exchange during the second quarter worth $25,000. Fairscale Capital LLC bought a new position in Intercontinental Exchange during the second quarter worth $25,000. Wolff Wiese Magana LLC increased its position in Intercontinental Exchange by 1,470.0% during the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 147 shares during the period. Finally, Northwest Investment Counselors LLC bought a new position in Intercontinental Exchange during the third quarter worth $26,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on ICE. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $168.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. Barclays dropped their target price on shares of Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. TD Cowen began coverage on shares of Intercontinental Exchange in a research report on Thursday, September 26th. They set a “buy” rating and a $182.00 target price on the stock. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, Morgan Stanley boosted their price target on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Intercontinental Exchange Stock Up 1.4 %

ICE opened at $157.69 on Tuesday. The firm’s 50-day simple moving average is $160.89 and its 200-day simple moving average is $150.44. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00. Intercontinental Exchange, Inc. has a twelve month low of $110.64 and a twelve month high of $167.99. The firm has a market cap of $90.54 billion, a price-to-earnings ratio of 37.37, a PEG ratio of 2.57 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 earnings per share for the quarter, hitting the consensus estimate of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the firm earned $1.46 EPS. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. Equities research analysts anticipate that Intercontinental Exchange, Inc. will post 6.07 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Martha A. Tirinnanzi sold 509 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $158.98, for a total transaction of $80,920.82. Following the transaction, the director now owns 3,958 shares in the company, valued at $629,242.84. This represents a 11.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO James W. Namkung sold 1,171 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $160.00, for a total transaction of $187,360.00. Following the transaction, the chief accounting officer now owns 16,665 shares in the company, valued at approximately $2,666,400. This trade represents a 6.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,489 shares of company stock worth $1,202,259 in the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Intercontinental Exchange Company 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.