Intercontinental Exchange, Inc. (NYSE:ICE) Stake Lifted by Parnassus Investments LLC

Parnassus Investments LLC increased its position in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 4.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,838,727 shares of the financial services provider's stock after buying an additional 299,037 shares during the quarter. Intercontinental Exchange accounts for approximately 2.7% of Parnassus Investments LLC's investment portfolio, making the stock its 10th largest position. Parnassus Investments LLC owned approximately 1.37% of Intercontinental Exchange worth $1,259,213,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ICE. New Millennium Group LLC acquired a new stake in Intercontinental Exchange in the second quarter valued at approximately $25,000. International Assets Investment Management LLC acquired a new position in shares of Intercontinental Exchange during the second quarter worth approximately $25,000. Fairscale Capital LLC acquired a new position in shares of Intercontinental Exchange during the second quarter worth approximately $25,000. Wolff Wiese Magana LLC raised its position in shares of 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 purchasing an additional 147 shares during the period. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Intercontinental Exchange during the third quarter worth approximately $26,000. Institutional investors and hedge funds own 89.30% of the company's stock.

Insider Activity

In other news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm'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 value of $326,799.36. Following the completion of the sale, the general counsel now directly owns 44,865 shares of the company's stock, valued at $7,159,108.05. This trade represents a 4.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Christopher Scott Edmonds sold 602 shares of the firm's stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $98,011.62. Following the completion of the sale, the insider now directly owns 14,034 shares of the company's stock, valued at $2,284,875.54. The trade was a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,489 shares of company stock valued at $1,202,259 in the last ninety days. Insiders own 1.10% of the company's stock.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE traded up $0.24 during trading on Tuesday, hitting $157.93. 2,847,512 shares of the company's stock were exchanged, compared to its average volume of 2,577,285. The business's 50-day simple moving average is $160.89 and its 200 day simple moving average is $150.44. Intercontinental Exchange, Inc. has a 52-week low of $110.64 and a 52-week high of $167.99. The company has a market cap of $90.68 billion, a price-to-earnings ratio of 37.37, a PEG ratio of 2.57 and a beta of 1.08. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.55. The business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The company's revenue for the quarter was up 17.3% on a year-over-year basis. During the same period last year, the company earned $1.46 EPS. As a group, equities analysts predict that Intercontinental Exchange, Inc. will post 6.07 EPS for the current year.

Wall Street Analysts Forecast Growth

ICE has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their price target on Intercontinental Exchange from $171.00 to $188.00 and gave the company an "overweight" rating in a research report on Wednesday, October 23rd. TD Cowen began coverage on Intercontinental Exchange in a research note on Thursday, September 26th. They issued a "buy" rating and a $182.00 price objective for the company. Piper Sandler upped their price objective on Intercontinental Exchange from $170.00 to $180.00 and gave the company an "overweight" rating in a research note on Tuesday, October 8th. Royal Bank of Canada restated an "outperform" rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a research note on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Intercontinental Exchange from $160.00 to $163.00 and gave the company a "hold" rating in a research note on Monday, November 11th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $174.13.

Intercontinental Exchange 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.