2,862 Shares in Intercontinental Exchange Inc. $ICE Purchased by Ironwood Investment Counsel LLC

Ironwood Investment Counsel LLC acquired a new position in Intercontinental Exchange Inc. (NYSE:ICE) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,862 shares of the financial services provider’s stock, valued at approximately $525,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. National Pension Service lifted its stake in shares of Intercontinental Exchange by 3.0% in the 2nd quarter. National Pension Service now owns 1,355,203 shares of the financial services provider’s stock valued at $248,639,000 after purchasing an additional 39,014 shares during the period. Fairbanks Capital Management Inc. raised its holdings in Intercontinental Exchange by 6.2% in the second quarter. Fairbanks Capital Management Inc. now owns 9,945 shares of the financial services provider’s stock worth $1,825,000 after purchasing an additional 582 shares in the last quarter. VeraBank N.A. lifted its position in Intercontinental Exchange by 6.8% during the second quarter. VeraBank N.A. now owns 5,983 shares of the financial services provider’s stock valued at $1,098,000 after buying an additional 379 shares during the period. Boston Partners boosted its holdings in shares of Intercontinental Exchange by 0.5% during the 2nd quarter. Boston Partners now owns 1,237,687 shares of the financial services provider’s stock valued at $227,329,000 after buying an additional 6,466 shares in the last quarter. Finally, Nwam LLC bought a new stake in shares of Intercontinental Exchange during the 2nd quarter valued at $539,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

ICE stock opened at $154.00 on Thursday. The stock’s 50 day simple moving average is $161.05 and its 200 day simple moving average is $172.89. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. Intercontinental Exchange Inc. has a 12-month low of $142.29 and a 12-month high of $189.35. The stock has a market capitalization of $87.81 billion, a PE ratio of 29.56, a price-to-earnings-growth ratio of 2.11 and a beta of 1.06.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, October 30th. The financial services provider reported $1.71 EPS for the quarter, hitting analysts’ consensus estimates of $1.71. The business had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.49 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.55 EPS. As a group, research analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 3,850 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $178.33, for a total transaction of $686,570.50. Following the sale, the general counsel owned 46,293 shares of the company’s stock, valued at $8,255,430.69. This trade represents a 7.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Duriya M. Farooqui sold 2,036 shares of the business’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total transaction of $363,100.24. Following the transaction, the director directly owned 14,299 shares of the company’s stock, valued at $2,550,083.66. The trade was a 12.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 23,587 shares of company stock worth $3,989,936. 1.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ICE has been the subject of a number of recent research reports. Raymond James Financial raised shares of Intercontinental Exchange from an “outperform” rating to a “strong-buy” rating and set a $210.00 price target for the company in a research report on Monday, October 13th. Barclays set a $183.00 target price on shares of Intercontinental Exchange and gave the company an “overweight” rating in a report on Friday, October 31st. Morgan Stanley reduced their price objective on Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 21st. UBS Group dropped their target price on Intercontinental Exchange from $215.00 to $200.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Exchange in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $194.70.

About Intercontinental Exchange

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.