Intercontinental Exchange, Inc. (NYSE:ICE) Short Interest Update

Intercontinental Exchange, Inc. (NYSE:ICE) was the target of a significant decrease in short interest in the month of September. As of September 15th, there was short interest totalling 5,710,000 shares, a decrease of 8.6% from the August 31st total of 6,250,000 shares. Based on an average daily volume of 2,770,000 shares, the short-interest ratio is presently 2.1 days.

Intercontinental Exchange Stock Up 0.3 %

NYSE ICE traded up $0.51 during trading on Tuesday, hitting $161.15. The company’s stock had a trading volume of 3,076,881 shares, compared to its average volume of 2,498,945. Intercontinental Exchange has a fifty-two week low of $104.49 and a fifty-two week high of $163.71. The company has a market cap of $92.43 billion, a PE ratio of 36.84, a P/E/G ratio of 2.81 and a beta of 1.08. 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 business’s 50 day simple moving average is $157.12 and its 200-day simple moving average is $143.72.

Intercontinental Exchange (NYSE:ICE) last released its 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 net margin of 21.43% and a return on equity of 12.70%. 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 previous year, the firm earned $1.43 EPS. Intercontinental Exchange’s revenue was up 22.7% compared to the same quarter last year. On average, equities analysts anticipate that Intercontinental Exchange will post 6.04 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Intercontinental Exchange from $151.00 to $171.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $168.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. TD Cowen initiated coverage on Intercontinental Exchange in a research note on Thursday, September 26th. They issued a “buy” rating and a $182.00 price objective on the stock. Royal Bank of Canada initiated coverage on Intercontinental Exchange in a research report on Friday. They set an “outperform” rating and a $200.00 target price for the company. Finally, Barclays increased their price target on Intercontinental Exchange from $159.00 to $167.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $162.47.

Insider Buying and Selling at Intercontinental Exchange

In other news, CTO Mayur Kapani sold 395 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $141.13, for a total transaction of $55,746.35. Following the transaction, the chief technology officer now owns 64,471 shares of the company’s stock, valued at approximately $9,098,792.23. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total transaction of $326,799.36. Following the transaction, the general counsel now owns 44,865 shares of the company’s stock, valued at $7,159,108.05. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Mayur Kapani sold 395 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $141.13, for a total value of $55,746.35. Following the sale, the chief technology officer now directly owns 64,471 shares of the company’s stock, valued at $9,098,792.23. The disclosure for this sale can be found here. Insiders have sold a total of 68,316 shares of company stock worth $9,835,609 over the last ninety days. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Intercontinental Exchange

A number of large investors have recently bought and sold shares of ICE. American National Bank grew its holdings in Intercontinental Exchange by 13.8% during the second quarter. American National Bank now owns 569 shares of the financial services provider’s stock worth $78,000 after acquiring an additional 69 shares during the period. Catalyst Financial Partners LLC raised its position in shares of Intercontinental Exchange by 3.4% in the second quarter. Catalyst Financial Partners LLC now owns 2,223 shares of the financial services provider’s stock worth $304,000 after acquiring an additional 73 shares during the period. Whittier Trust Co. of Nevada Inc. raised its position in shares of Intercontinental Exchange by 1.8% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 4,083 shares of the financial services provider’s stock worth $559,000 after acquiring an additional 74 shares during the period. Founders Financial Securities LLC boosted its stake in shares of Intercontinental Exchange by 4.8% during the 2nd quarter. Founders Financial Securities LLC now owns 1,600 shares of the financial services provider’s stock worth $219,000 after acquiring an additional 74 shares in the last quarter. Finally, Pettyjohn Wood & White Inc. grew its position in shares of Intercontinental Exchange by 0.5% during the 4th quarter. Pettyjohn Wood & White Inc. now owns 15,813 shares of the financial services provider’s stock valued at $2,031,000 after acquiring an additional 75 shares during the period. Hedge funds and other institutional investors own 89.30% 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.