The Goldman Sachs Group Increases Intercontinental Exchange (NYSE:ICE) Price Target to $185.00

Intercontinental Exchange (NYSE:ICE) had its price objective increased by stock analysts at The Goldman Sachs Group from $171.00 to $185.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. The Goldman Sachs Group’s price objective points to a potential upside of 13.68% from the stock’s current price.

Other research analysts have also issued research reports about the stock. StockNews.com lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Friday, September 6th. JPMorgan Chase & Co. raised 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. Barclays raised their target price on shares of Intercontinental Exchange from $159.00 to $167.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Royal Bank of Canada began coverage on shares of Intercontinental Exchange in a research report on Friday, September 27th. They issued an “outperform” rating and a $200.00 price target on the stock. Finally, TD Cowen began coverage on shares of Intercontinental Exchange in a research report on Thursday, September 26th. They issued a “buy” rating and a $182.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and an average target price of $167.80.

Intercontinental Exchange Stock Down 0.3 %

Shares of NYSE:ICE opened at $162.74 on Thursday. The firm has a market cap of $93.35 billion, a P/E ratio of 37.33, a P/E/G ratio of 2.81 and a beta of 1.08. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. Intercontinental Exchange has a 12 month low of $104.49 and a 12 month high of $164.18. The company’s 50-day moving average price is $158.16 and its two-hundred day moving average price is $144.36.

Intercontinental Exchange (NYSE:ICE) last issued 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. The company had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The company’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.43 EPS. As a group, research analysts forecast that Intercontinental Exchange will post 6.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 58,389 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $141.68, for a total transaction of $8,272,553.52. Following the sale, the chief executive officer now directly owns 1,179,993 shares in the company, valued at approximately $167,181,408.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Jeffrey C. Sprecher sold 58,389 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $141.68, for a total transaction of $8,272,553.52. Following the completion of the transaction, the chief executive officer now directly owns 1,179,993 shares of the company’s stock, valued at $167,181,408.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $55,746.35. Following the transaction, the chief technology officer now directly owns 64,471 shares of the company’s stock, valued at $9,098,792.23. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 68,316 shares of company stock worth $9,835,609. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Intercontinental Exchange

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Intercontinental Exchange by 7.5% during the 1st quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock worth $6,978,218,000 after acquiring an additional 3,536,913 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Intercontinental Exchange by 35.0% in the fourth quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock valued at $2,105,994,000 after buying an additional 4,251,371 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Intercontinental Exchange by 4.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,280,194 shares of the financial services provider’s stock valued at $725,657,000 after buying an additional 218,516 shares in the last quarter. Mawer Investment Management Ltd. grew its stake in shares of Intercontinental Exchange by 0.6% in the first quarter. Mawer Investment Management Ltd. now owns 4,696,457 shares of the financial services provider’s stock valued at $645,434,000 after buying an additional 28,771 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Intercontinental Exchange by 4.5% in the second quarter. Legal & General Group Plc now owns 4,453,286 shares of the financial services provider’s stock valued at $609,609,000 after buying an additional 191,763 shares in the last quarter. 89.30% of the stock is owned by institutional investors.

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.