Connor Clark & Lunn Investment Management Ltd. Grows Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Connor Clark & Lunn Investment Management Ltd. raised its stake in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 145.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 260,996 shares of the financial services provider's stock after buying an additional 154,816 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Intercontinental Exchange were worth $41,926,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Wolff Wiese Magana LLC lifted its position in 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 valued at $25,000 after purchasing an additional 147 shares during the last quarter. Northwest Investment Counselors LLC purchased a new stake in shares of Intercontinental Exchange during the third quarter worth $26,000. Financial Management Professionals Inc. raised its stake in shares of Intercontinental Exchange by 106.1% in the 3rd quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 87 shares during the period. Fairscale Capital LLC acquired a new position in shares of Intercontinental Exchange during the 2nd quarter worth about $25,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Intercontinental Exchange in the 3rd quarter valued at approximately $29,000. Hedge funds and other institutional investors own 89.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ICE. Royal Bank of Canada reiterated an "outperform" rating and issued a $200.00 price target on shares of Intercontinental Exchange in a report on Friday, November 1st. Keefe, Bruyette & Woods restated an "outperform" rating and set a $168.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. Raymond James lowered shares of Intercontinental Exchange from a "strong-buy" rating to an "outperform" rating and set a $185.00 price target on the stock. in a research note on Monday, October 14th. JPMorgan Chase & Co. increased their target price on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the company an "overweight" rating in a research note on Wednesday, October 23rd. Finally, StockNews.com raised shares of Intercontinental Exchange from a "sell" rating to a "hold" rating in a report on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Intercontinental Exchange currently has a consensus rating of "Moderate Buy" and an average target price of $174.13.

Intercontinental Exchange Price Performance

ICE stock traded down $2.16 during trading hours on Wednesday, hitting $155.77. 1,866,205 shares of the stock traded hands, compared to its average volume of 2,574,133. The stock has a 50-day simple moving average of $160.81 and a 200 day simple moving average of $150.63. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. The company has a market cap of $89.44 billion, a P/E ratio of 37.42, a P/E/G ratio of 2.57 and a beta of 1.08. Intercontinental Exchange, Inc. has a one year low of $111.82 and a one year high of $167.99.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, hitting analysts' consensus estimates of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The firm had revenue of $2.35 billion during the quarter, compared to analysts' expectations of $2.35 billion. During the same quarter last year, the company earned $1.46 earnings per share. The company's revenue for the quarter was up 17.3% compared to the same quarter last year. Equities analysts forecast that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current year.

Insider Buying and Selling at Intercontinental Exchange

In related news, Director Martha A. Tirinnanzi sold 509 shares of the firm's stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $158.98, for a total value of $80,920.82. Following the transaction, the director now owns 3,958 shares of the company's stock, valued at approximately $629,242.84. This trade represents a 11.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO James W. Namkung sold 1,171 shares of the company's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $160.00, for a total transaction of $187,360.00. Following the transaction, the chief accounting officer now owns 16,665 shares in the company, valued at $2,666,400. The trade was a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,489 shares of company stock worth $1,202,259 over the last three months. Corporate insiders own 1.10% of the company's stock.

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.