Waverly Advisors LLC Acquires 14,527 Shares of Intercontinental Exchange Inc. $ICE

Waverly Advisors LLC lifted its position in Intercontinental Exchange Inc. (NYSE:ICE) by 66.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 36,292 shares of the financial services provider’s stock after acquiring an additional 14,527 shares during the period. Waverly Advisors LLC’s holdings in Intercontinental Exchange were worth $5,708,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Ares Financial Consulting LLC purchased a new position in Intercontinental Exchange during the fourth quarter valued at $25,000. Steph & Co. increased its position in shares of Intercontinental Exchange by 104.7% during the fourth quarter. Steph & Co. now owns 174 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 89 shares in the last quarter. Brooklands Fund Management Ltd bought a new position in Intercontinental Exchange in the 4th quarter valued at approximately $28,000. Swiss RE Ltd. purchased a new stake in Intercontinental Exchange during the 4th quarter valued at $28,000. Finally, Dorato Capital Management purchased a new stake in Intercontinental Exchange during the 4th quarter valued at $29,000. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Price Performance

Shares of ICE opened at $153.02 on Wednesday. The firm has a fifty day simple moving average of $139.33 and a two-hundred day simple moving average of $153.81. The firm has a market cap of $86.53 billion, a PE ratio of 22.27, a P/E/G ratio of 1.54 and a beta of 0.94. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. Intercontinental Exchange Inc. has a 1-year low of $121.79 and a 1-year high of $189.35.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period last year, the business posted $1.72 EPS. On average, equities analysts anticipate that Intercontinental Exchange Inc. will post 8.01 EPS for the current year.

Insiders Place Their Bets

In other Intercontinental Exchange news, Director Sharon Bowen sold 667 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $151.28, for a total transaction of $100,903.76. Following the completion of the sale, the director directly owned 15,077 shares in the company, valued at $2,280,848.56. The trade was a 4.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Mayur Kapani sold 4,271 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $155.42, for a total transaction of $663,798.82. Following the sale, the chief technology officer directly owned 64,869 shares of the company’s stock, valued at $10,081,939.98. The trade was a 6.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 13,425 shares of company stock valued at $2,046,324. 0.84% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on ICE. UBS Group reduced their target price on Intercontinental Exchange from $205.00 to $190.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. Morgan Stanley lowered their price target on Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a report on Friday, July 10th. Barclays dropped their price objective on Intercontinental Exchange from $201.00 to $180.00 and set an “overweight” rating on the stock in a research report on Thursday, July 9th. Keefe, Bruyette & Woods started coverage on Intercontinental Exchange in a report on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 price objective for the company. Finally, Piper Sandler decreased their target price on Intercontinental Exchange from $211.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $181.58.

Intercontinental Exchange Company Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.