Caldwell Investment Management Ltd. Purchases Shares of 100,000 Intercontinental Exchange Inc. $ICE

Caldwell Investment Management Ltd. acquired a new position in Intercontinental Exchange Inc. (NYSE:ICE) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 100,000 shares of the financial services provider’s stock, valued at approximately $12,302,000. Intercontinental Exchange accounts for approximately 8.1% of Caldwell Investment Management Ltd.’s investment portfolio, making the stock its 5th largest position.

A number of other institutional investors and hedge funds have also bought and sold shares of ICE. ICONIQ Capital LLC raised its holdings in Intercontinental Exchange by 2.2% in the 2nd quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock valued at $481,000 after acquiring an additional 56 shares in the last quarter. Mission Wealth Management LP raised its stake in shares of Intercontinental Exchange by 2.4% in the fourth quarter. Mission Wealth Management LP now owns 2,611 shares of the financial services provider’s stock valued at $423,000 after purchasing an additional 62 shares in the last quarter. Evergreen Capital Management LLC boosted its stake in Intercontinental Exchange by 1.5% during the fourth quarter. Evergreen Capital Management LLC now owns 4,207 shares of the financial services provider’s stock worth $681,000 after buying an additional 63 shares in the last quarter. Johnson Financial Group LLC increased its holdings in Intercontinental Exchange by 4.0% in the 4th quarter. Johnson Financial Group LLC now owns 1,710 shares of the financial services provider’s stock valued at $277,000 after buying an additional 65 shares during the period. Finally, Cornerstone Planning Group LLC increased its holdings in Intercontinental Exchange by 33.5% in the 1st quarter. Cornerstone Planning Group LLC now owns 271 shares of the financial services provider’s stock valued at $42,000 after buying an additional 68 shares during the period. Institutional investors own 89.30% of the company’s stock.

Analysts Set New Price Targets

ICE has been the subject of a number of analyst reports. Rothschild & Co Redburn set a $177.00 price objective on shares of Intercontinental Exchange in a report on Thursday, June 11th. TD Cowen reiterated a “buy” rating and issued a $177.00 price objective (up from $159.00) on shares of Intercontinental Exchange in a research note on Friday, July 31st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $178.00 target price on shares of Intercontinental Exchange in a report on Friday, July 31st. Piper Sandler cut 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. Finally, Raymond James Financial set a $208.00 price target on Intercontinental Exchange in a research note on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $183.33.

Intercontinental Exchange Stock Up 1.7%

NYSE ICE opened at $161.29 on Friday. The stock’s 50 day simple moving average is $142.34 and its 200 day simple moving average is $151.69. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market cap of $90.55 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 1.56 and a beta of 0.92. Intercontinental Exchange Inc. has a one year low of $121.79 and a one year high of $181.65.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.06. The firm had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $2.63 billion. Intercontinental Exchange had a net margin of 30.08% and a return on equity of 14.95%. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.81 EPS. As a group, sell-side analysts forecast that Intercontinental Exchange Inc. will post 8.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director William Jefferson Hague sold 1,333 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $139.46, for a total transaction of $185,900.18. Following the completion of the sale, the director owned 20,132 shares in the company, valued at $2,807,608.72. The trade was a 6.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Douglas Foley sold 7,300 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $148.88, for a total value of $1,086,824.00. Following the transaction, the senior vice president directly owned 19,063 shares in the company, valued at $2,838,099.44. This trade represents a 27.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 20,200 shares of company stock worth $3,035,385. 0.84% of the stock is currently owned by company insiders.

Intercontinental Exchange 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.