Andrew J. Surdykowski Sells 2,048 Shares of Intercontinental Exchange, Inc. (NYSE:ICE) Stock

by · The Markets Daily

Intercontinental Exchange, Inc. (NYSE:ICE – Get Free Report) General Counsel Andrew J. Surdykowski sold 2,048 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total transaction of $326,799.36. Following the completion of 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 through the SEC website.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $161.15 on Wednesday. The business’s 50 day moving average is $157.37 and its two-hundred day moving average is $143.91. Intercontinental Exchange, Inc. has a 52-week low of $104.49 and a 52-week high of $163.71. The firm has a market cap of $92.43 billion, a price-to-earnings ratio of 36.96, a PEG 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 (NYSE:ICE – Get Free Report) last posted its quarterly 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 business had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.31 billion. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The business’s revenue was up 22.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.43 EPS. Analysts forecast that Intercontinental Exchange, Inc. will post 6.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Intercontinental Exchange

Several large investors have recently added to or reduced their stakes in ICE. Fairscale Capital LLC bought a new position in shares of Intercontinental Exchange in the second quarter worth $25,000. Annapolis Financial Services LLC grew its stake in shares of Intercontinental Exchange by 1,018.8% in the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 163 shares in the last quarter. New Millennium Group LLC bought a new position in shares of Intercontinental Exchange in the second quarter worth $25,000. International Assets Investment Management LLC bought a new position in Intercontinental Exchange during the second quarter valued at about $25,000. Finally, Redmont Wealth Advisors LLC bought a new position in Intercontinental Exchange during the first quarter valued at about $26,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ICE. JPMorgan Chase & Co. increased their target price on shares of Intercontinental Exchange from $151.00 to $171.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. The Goldman Sachs Group raised shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and increased their target price for the stock from $143.00 to $167.00 in a research note on Monday, July 1st. Citigroup increased their target price on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. Barclays raised their price objective 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. Finally, StockNews.com lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Friday, September 6th. One equities 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $162.47.

Check Out Our Latest Stock Report on ICE

About Intercontinental Exchange

(Get Free Report)

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.

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