Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by Ruane Cunniff & Goldfarb L.P.

Ruane Cunniff & Goldfarb L.P. decreased its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 1.9% in the third quarter, HoldingsChannel reports. The firm owned 5,012,488 shares of the financial services provider’s stock after selling 95,971 shares during the period. Intercontinental Exchange accounts for 12.6% of Ruane Cunniff & Goldfarb L.P.’s holdings, making the stock its biggest position. Ruane Cunniff & Goldfarb L.P.’s holdings in Intercontinental Exchange were worth $805,206,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. FMR LLC boosted its position in Intercontinental Exchange by 44.1% during the 3rd quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock worth $1,260,449,000 after acquiring an additional 2,401,630 shares during the period. Parnassus Investments LLC boosted its position in Intercontinental Exchange by 4.0% during the 3rd quarter. Parnassus Investments LLC now owns 7,838,727 shares of the financial services provider’s stock worth $1,259,213,000 after acquiring an additional 299,037 shares during the period. Legal & General Group Plc boosted its position in Intercontinental Exchange by 4.5% during the 2nd quarter. Legal & General Group Plc now owns 4,453,286 shares of the financial services provider’s stock worth $609,609,000 after acquiring an additional 191,763 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Intercontinental Exchange by 9.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,648,437 shares of the financial services provider’s stock worth $586,085,000 after acquiring an additional 305,220 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Intercontinental Exchange by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,142,092 shares of the financial services provider’s stock worth $504,746,000 after acquiring an additional 21,615 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insiders Place Their Bets

In other Intercontinental Exchange news, CFO Warren Gardiner sold 750 shares of Intercontinental Exchange stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $161.43, for a total value of $121,072.50. Following the transaction, the chief financial officer now directly owns 16,576 shares of the company’s stock, valued at $2,675,863.68. The trade was a 4.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the transaction, the general counsel now directly owns 44,865 shares in the company, valued at approximately $7,159,108.05. This represents a 4.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,696 shares of company stock valued at $1,554,559 in the last three months. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

ICE has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft raised their price objective on Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. TD Cowen initiated coverage on Intercontinental Exchange in a research report on Thursday, September 26th. They set a “buy” rating and a $182.00 price objective for the company. Raymond James lowered Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price target for the company. in a report on Monday, October 14th. Barclays reduced their price target on Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating for the company in a report on Friday, November 1st. Finally, Bank of America lifted their price target on Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Intercontinental Exchange Stock Up 0.4 %

Shares of ICE stock opened at $161.14 on Thursday. The stock’s 50 day simple moving average is $160.55 and its 200 day simple moving average is $151.59. 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 $111.82 and a twelve month high of $167.99. The company has a market capitalization of $92.52 billion, a price-to-earnings ratio of 38.18, a PEG ratio of 2.64 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $2.35 billion. During the same period last year, the business earned $1.46 EPS. The firm’s revenue was up 17.3% compared to the same quarter last year. As a group, research analysts predict that Intercontinental Exchange, Inc. will post 6.07 EPS for the current year.

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.