Piper Sandler Issues Positive Forecast for Intercontinental Exchange (NYSE:ICE) Stock Price

Intercontinental Exchange (NYSE:ICE - Get Free Report) had its price objective boosted by equities researchers at Piper Sandler from $180.00 to $202.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the financial services provider's stock. Piper Sandler's price objective suggests a potential upside of 11.06% from the stock's previous close.

A number of other equities research analysts also recently commented on ICE. Morgan Stanley raised their price objective on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Barclays raised their price objective on shares of Intercontinental Exchange from $198.00 to $206.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Bank of America reduced their price target on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods lifted their price target on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Finally, UBS Group lifted their price target on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $194.42.

Intercontinental Exchange Stock Performance

Shares of ICE traded up $1.09 during mid-day trading on Tuesday, hitting $181.89. 1,806,778 shares of the company's stock were exchanged, compared to its average volume of 2,947,075. Intercontinental Exchange has a fifty-two week low of $142.29 and a fifty-two week high of $183.99. The firm has a market capitalization of $104.34 billion, a P/E ratio of 37.66, a P/E/G ratio of 1.99 and a beta of 1.11. The business's 50 day moving average is $178.91 and its two-hundred day moving average is $168.45. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.62.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, beating analysts' consensus estimates of $1.70 by $0.02. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.44 billion. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The firm's revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.48 earnings per share. On average, equities analysts expect that Intercontinental Exchange will post 6.73 earnings per share for the current year.

Insider Buying and Selling at Intercontinental Exchange

In other news, CAO James W. Namkung sold 612 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $180.00, for a total transaction of $110,160.00. Following the completion of the transaction, the chief accounting officer directly owned 13,220 shares of the company's stock, valued at $2,379,600. This trade represents a 4.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 3,848 shares of the business's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $179.12, for a total value of $689,253.76. Following the completion of the transaction, the general counsel owned 48,480 shares of the company's stock, valued at $8,683,737.60. This trade represents a 7.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 226,119 shares of company stock worth $40,524,217. 1.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Tritonpoint Wealth LLC raised its holdings in Intercontinental Exchange by 1.4% in the 2nd quarter. Tritonpoint Wealth LLC now owns 4,347 shares of the financial services provider's stock valued at $798,000 after acquiring an additional 58 shares during the last quarter. RB Capital Management LLC grew its stake in shares of Intercontinental Exchange by 1.3% during the 2nd quarter. RB Capital Management LLC now owns 4,584 shares of the financial services provider's stock valued at $841,000 after buying an additional 59 shares during the period. Chemistry Wealth Management LLC grew its stake in shares of Intercontinental Exchange by 0.8% during the 2nd quarter. Chemistry Wealth Management LLC now owns 7,847 shares of the financial services provider's stock valued at $1,440,000 after buying an additional 60 shares during the period. Fielder Capital Group LLC grew its stake in shares of Intercontinental Exchange by 2.2% during the 1st quarter. Fielder Capital Group LLC now owns 2,808 shares of the financial services provider's stock valued at $484,000 after buying an additional 61 shares during the period. Finally, E Fund Management Co. Ltd. grew its stake in shares of Intercontinental Exchange by 4.2% during the 1st quarter. E Fund Management Co. Ltd. now owns 1,500 shares of the financial services provider's stock valued at $259,000 after buying an additional 61 shares during the period. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Company 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.