Procyon Advisors LLC Has $1.61 Million Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Procyon Advisors LLC raised its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 70.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,802 shares of the financial services provider’s stock after purchasing an additional 4,457 shares during the quarter. Procyon Advisors LLC’s holdings in Intercontinental Exchange were worth $1,610,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. State Street Corp raised its position in Intercontinental Exchange by 1.2% in the 3rd quarter. State Street Corp now owns 23,651,598 shares of the financial services provider’s stock valued at $3,799,393,000 after buying an additional 281,503 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Intercontinental Exchange by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 11,555,615 shares of the financial services provider’s stock worth $1,848,868,000 after acquiring an additional 169,922 shares in the last quarter. FMR LLC raised its holdings in shares of Intercontinental Exchange by 44.1% in the third quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock valued at $1,260,449,000 after purchasing an additional 2,401,630 shares during the last quarter. Parnassus Investments LLC raised its holdings in shares of Intercontinental Exchange by 4.0% in the third quarter. Parnassus Investments LLC now owns 7,838,727 shares of the financial services provider’s stock valued at $1,259,213,000 after purchasing an additional 299,037 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Intercontinental Exchange by 8.0% in the third quarter. Franklin Resources Inc. now owns 5,265,020 shares of the financial services provider’s stock valued at $865,455,000 after purchasing an additional 390,332 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on ICE. Bank of America boosted their price target on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Morgan Stanley upped their target price on Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Piper Sandler raised their price target on Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Keefe, Bruyette & Woods dropped their price objective on Intercontinental Exchange from $183.00 to $178.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. Finally, TD Cowen started coverage on shares of Intercontinental Exchange in a research note on Thursday, September 26th. They issued a “buy” rating and a $182.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $175.27.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $149.07 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. The company has a fifty day moving average price of $153.35 and a 200-day moving average price of $155.44. Intercontinental Exchange, Inc. has a 1 year low of $124.34 and a 1 year high of $167.99. The firm has a market cap of $85.59 billion, a price-to-earnings ratio of 35.33, a PEG ratio of 2.29 and a beta of 1.10.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, hitting the consensus estimate of $1.55. The business had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The business’s revenue was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.46 earnings per share. As a group, equities research analysts predict that Intercontinental Exchange, Inc. will post 6.06 EPS for the current fiscal year.

Insider Activity

In other news, CTO Mayur Kapani sold 5,661 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $147.59, for a total value of $835,506.99. Following the transaction, the chief technology officer now owns 66,548 shares of the company’s stock, valued at approximately $9,821,819.32. This represents a 7.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Benjamin Jackson sold 5,828 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $160.00, for a total value of $932,480.00. Following the completion of the transaction, the president now owns 156,163 shares in the company, valued at $24,986,080. This represents a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,795 shares of company stock valued at $2,120,572 in the last 90 days. Insiders own 1.10% of the company’s stock.

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.