Fintel reports that on July 11, 2023, Citigroup reiterated coverage of Intercontinental Exchange (NYSE:ICE) with a Neutral recommendation.

Analyst Price Forecast Suggests 17.57% Upside

As of July 6, 2023, the average one-year price target for Intercontinental Exchange is 133.05. The forecasts range from a low of 118.17 to a high of $176.40. The average price target represents an increase of 17.57% from its latest reported closing price of 113.16.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Intercontinental Exchange is 7,850MM, an increase of 7.70%. The projected annual non-GAAP EPS is 5.73.

What is the Fund Sentiment?

There are 2238 funds or institutions reporting positions in Intercontinental Exchange. This is an increase of 21 owner(s) or 0.95% in the last quarter. Average portfolio weight of all funds dedicated to ICE is 0.52%, an increase of 3.91%. Total shares owned by institutions decreased in the last three months by 0.94% to 564,028K shares. The put/call ratio of ICE is 0.69, indicating a bullish outlook.

What are Other Shareholders Doing?

T. Rowe Price Investment Management holds 19,452K shares representing 3.47% ownership of the company. In it's prior filing, the firm reported owning 17,114K shares, representing an increase of 12.02%. The firm increased its portfolio allocation in ICE by 7.96% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 17,303K shares representing 3.09% ownership of the company. In it's prior filing, the firm reported owning 16,980K shares, representing an increase of 1.87%. The firm decreased its portfolio allocation in ICE by 4.35% over the last quarter.

VFINX - Vanguard 500 Index Fund Investor Shares holds 13,040K shares representing 2.33% ownership of the company. In it's prior filing, the firm reported owning 12,912K shares, representing an increase of 0.98%. The firm decreased its portfolio allocation in ICE by 4.79% over the last quarter.

Harris Associates L P holds 12,300K shares representing 2.20% ownership of the company. In it's prior filing, the firm reported owning 9,605K shares, representing an increase of 21.91%. The firm increased its portfolio allocation in ICE by 24.10% over the last quarter.

Geode Capital Management holds 10,503K shares representing 1.88% ownership of the company. In it's prior filing, the firm reported owning 10,376K shares, representing an increase of 1.21%. The firm decreased its portfolio allocation in ICE by 4.86% over the last quarter.

Intercontinental Exchange Background Information
(This description is provided by the company.)

ICE Mortgage Technology, a division of Intercontinental Exchange, Inc., combines the innovation and expertise of Ellie Mae, Simplifile and MERS to automate the entire mortgage process from consumer engagement through loan registration and every step and task in between. Ellie Mae, as part of ICE Mortgage Technology, is the leading cloud-based loan origination platform provider for the mortgage industry with solutions that enable lenders to originate more loans, lower origination costs and reduce the time to close, all while ensuring the highest levels of compliance, quality and efficiency.

Additional reading:

• Intercontinental Exchange Reports Strong First Quarter 2023
• Employment Agreement dated February 1, 2023 between Intercontinental Exchange Holdings, Inc. and Christopher Edmonds.
• Aircraft Time Sharing Agreement dated as of April 17, 2023 between Intercontinental Exchange Holdings, Inc. and Christopher Edmonds.
• Form of Black Knight Proxy Card.
• Description of ICE’s Securities Registered under Section 12 of the Exchange Act