Mawer Investment Management Ltd. Reduces Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Mawer Investment Management Ltd. trimmed its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 1.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,616,908 shares of the financial services provider’s stock after selling 79,549 shares during the quarter. Intercontinental Exchange comprises 3.0% of Mawer Investment Management Ltd.’s holdings, making the stock its 12th largest position. Mawer Investment Management Ltd. owned approximately 0.80% of Intercontinental Exchange worth $632,009,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ICE. Scarborough Advisors LLC purchased a new position in Intercontinental Exchange during the 4th quarter worth approximately $25,000. Annapolis Financial Services LLC increased its stake in shares of Intercontinental Exchange by 1,018.8% in the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 163 shares during the period. New Millennium Group LLC purchased a new position in shares of Intercontinental Exchange during the second quarter worth $25,000. International Assets Investment Management LLC acquired a new position in Intercontinental Exchange during the second quarter valued at $25,000. Finally, Redmont Wealth Advisors LLC acquired a new position in Intercontinental Exchange during the first quarter valued at $26,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Transactions at Intercontinental Exchange

In other news, Director Judith A. Sprieser sold 1,941 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $160.69, for a total transaction of $311,899.29. Following the completion of the sale, the director now owns 26,908 shares of the company’s stock, valued at $4,323,846.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Judith A. Sprieser sold 1,941 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $160.69, for a total transaction of $311,899.29. Following the completion of the sale, the director now owns 26,908 shares of the company’s stock, valued at approximately $4,323,846.52. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 sale, the chief accounting officer now directly owns 16,665 shares of the company’s stock, valued at approximately $2,666,400. The disclosure for this sale can be found here. Insiders sold 66,346 shares of company stock valued at $9,472,911 over the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

ICE has been the subject of a number of research reports. Keefe, Bruyette & Woods restated an “outperform” rating and set a $168.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. The Goldman Sachs Group upgraded shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and boosted their target price for the company from $143.00 to $167.00 in a research report on Monday, July 1st. Citigroup boosted their target price on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Finally, Barclays boosted their target price on shares of Intercontinental Exchange from $159.00 to $167.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $154.93.

Intercontinental Exchange Stock Up 0.8 %

ICE stock opened at $161.70 on Tuesday. The stock has a market capitalization of $92.75 billion, a P/E ratio of 37.09, a P/E/G ratio of 2.82 and a beta of 1.08. The firm has a 50-day simple moving average of $152.59 and a 200-day simple moving average of $141.38. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. Intercontinental Exchange, Inc. has a 52 week low of $104.49 and a 52 week high of $163.71.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, August 1st. The financial services provider reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.03. The business had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The company’s quarterly revenue was up 22.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.43 earnings per share. Equities analysts forecast that Intercontinental Exchange, Inc. will post 6.04 earnings per share for the current fiscal year.

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.