Otter Creek Advisors LLC Has $2.64 Million Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Otter Creek Advisors LLC grew its holdings in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 43.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,436 shares of the financial services provider's stock after buying an additional 5,000 shares during the period. Otter Creek Advisors LLC's holdings in Intercontinental Exchange were worth $2,640,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ICE. Parnassus Investments LLC raised its holdings in Intercontinental Exchange by 4.0% in the 3rd quarter. Parnassus Investments LLC now owns 7,838,727 shares of the financial services provider's stock valued at $1,259,213,000 after acquiring an additional 299,037 shares during the period. Legal & General Group Plc increased its stake in shares of Intercontinental Exchange by 4.5% during the second quarter. Legal & General Group Plc now owns 4,453,286 shares of the financial services provider's stock worth $609,609,000 after purchasing an additional 191,763 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings 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 purchasing an additional 21,615 shares during the last quarter. Clearbridge Investments LLC boosted its stake in Intercontinental Exchange by 10.4% in the 2nd quarter. Clearbridge Investments LLC now owns 3,019,195 shares of the financial services provider's stock valued at $413,298,000 after purchasing an additional 284,664 shares during the period. Finally, Raymond James & Associates boosted its position in shares of Intercontinental Exchange by 11.1% in the third quarter. Raymond James & Associates now owns 2,535,785 shares of the financial services provider's stock valued at $407,348,000 after acquiring an additional 253,324 shares during the period. 89.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on ICE. StockNews.com upgraded shares of Intercontinental Exchange from a "sell" rating to a "hold" rating in a research report on Tuesday, November 12th. Bank of America increased their price objective on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the stock a "buy" rating in a research note on Thursday, October 3rd. Raymond James cut shares of Intercontinental Exchange from a "strong-buy" rating to an "outperform" rating and set a $185.00 target price for the company. in a research report on Monday, October 14th. Royal Bank of Canada reiterated an "outperform" rating and set a $200.00 price target on shares of Intercontinental Exchange in a research report on Friday, November 1st. Finally, 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. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Intercontinental Exchange presently has an average rating of "Moderate Buy" and an average price target of $174.13.

Insider Activity at Intercontinental Exchange

In related news, Director Judith A. Sprieser sold 1,941 shares of the business's stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $160.69, for a total value of $311,899.29. Following the transaction, the director now owns 26,908 shares in the company, valued at $4,323,846.52. The trade was a 6.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $159.57, for a total value of $326,799.36. Following the sale, the general counsel now owns 44,865 shares of the company's stock, valued at approximately $7,159,108.05. The trade was a 4.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,809 shares of company stock worth $933,978 over the last ninety days. Insiders own 1.10% of the company's stock.

Intercontinental Exchange Trading Up 0.6 %

NYSE ICE traded up $0.94 on Friday, hitting $159.29. The company's stock had a trading volume of 2,078,257 shares, compared to its average volume of 2,567,310. The company's 50-day moving average is $160.68 and its 200 day moving average is $150.72. The firm has a market cap of $91.46 billion, a PE ratio of 37.61, a PEG ratio of 2.61 and a beta of 1.08. Intercontinental Exchange, Inc. has a 1-year low of $111.82 and a 1-year high of $167.99. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, hitting 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%. Intercontinental Exchange's revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period last year, the company earned $1.46 EPS. As a group, analysts predict that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current fiscal year.

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.