Montag & Caldwell LLC Sells 27,683 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Montag & Caldwell LLC trimmed its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 22.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 97,246 shares of the financial services provider’s stock after selling 27,683 shares during the quarter. Intercontinental Exchange comprises 2.7% of Montag & Caldwell LLC’s portfolio, making the stock its 15th biggest holding. Montag & Caldwell LLC’s holdings in Intercontinental Exchange were worth $13,312,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its position in shares of Intercontinental Exchange by 35.0% during the fourth quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock worth $2,105,994,000 after purchasing an additional 4,251,371 shares in the last quarter. D.A. Davidson & CO. boosted its position in Intercontinental Exchange by 8.5% in the 4th quarter. D.A. Davidson & CO. now owns 25,328 shares of the financial services provider’s stock valued at $3,253,000 after buying an additional 1,991 shares during the last quarter. Point72 Europe London LLP increased its stake in shares of Intercontinental Exchange by 10.9% in the 4th quarter. Point72 Europe London LLP now owns 66,300 shares of the financial services provider’s stock valued at $8,515,000 after buying an additional 6,500 shares during the period. Perpetual Ltd raised its position in shares of Intercontinental Exchange by 0.4% during the first quarter. Perpetual Ltd now owns 1,487,993 shares of the financial services provider’s stock worth $204,495,000 after acquiring an additional 6,272 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Intercontinental Exchange by 819.7% during the second quarter. Assenagon Asset Management S.A. now owns 137,074 shares of the financial services provider’s stock valued at $18,764,000 after acquiring an additional 122,169 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

NYSE ICE opened at $161.36 on Monday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.99 and a current ratio of 0.99. Intercontinental Exchange, Inc. has a 52-week low of $104.49 and a 52-week high of $163.71. The business has a 50 day simple moving average of $154.20 and a 200 day simple moving average of $142.02. The stock has a market cap of $92.55 billion, a price-to-earnings ratio of 37.01, a PEG ratio of 2.81 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 EPS for the quarter, beating the consensus estimate of $1.49 by $0.03. The business had revenue of $2.32 billion for 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 firm’s revenue was up 22.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.43 EPS. Analysts anticipate that Intercontinental Exchange, Inc. will post 6.04 earnings per share for the current fiscal year.

Insider Activity

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $136.66, for a total transaction of $259,380.68. Following the completion of the transaction, the general counsel now owns 46,815 shares of the company’s stock, valued at approximately $6,397,737.90. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Intercontinental Exchange news, CFO Warren Gardiner sold 750 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $161.43, for a total transaction of $121,072.50. Following the transaction, the chief financial officer now owns 16,576 shares of the company’s stock, valued at approximately $2,675,863.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 1,898 shares of the stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $136.66, for a total value of $259,380.68. Following the completion of the sale, the general counsel now directly owns 46,815 shares of the company’s stock, valued at approximately $6,397,737.90. The disclosure for this sale can be found here. Insiders have sold a total of 67,096 shares of company stock worth $9,593,983 over the last three months. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Argus reissued a “buy” rating and set a $153.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, May 21st. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $168.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, August 6th. StockNews.com downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Friday, September 6th. Deutsche Bank Aktiengesellschaft raised their price target on Intercontinental Exchange from $152.00 to $154.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Finally, The Goldman Sachs Group raised Intercontinental Exchange from a “neutral” rating to a “buy” rating and increased their target price for the company from $143.00 to $167.00 in a research note on Monday, July 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average price target of $154.93.

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.