Procyon Advisors LLC Reduces Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Procyon Advisors LLC reduced its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 25.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,345 shares of the financial services provider’s stock after selling 2,175 shares during the quarter. Procyon Advisors LLC’s holdings in Intercontinental Exchange were worth $1,018,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in ICE. Vanguard Group Inc. increased its holdings in Intercontinental Exchange by 7.5% during the 1st quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock valued at $6,978,218,000 after acquiring an additional 3,536,913 shares in the last quarter. CCLA Investment Management boosted its stake in shares of Intercontinental Exchange by 91,838.2% during the 1st quarter. CCLA Investment Management now owns 1,114,291 shares of the financial services provider’s stock worth $152,923,000 after purchasing an additional 1,113,079 shares during the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of Intercontinental Exchange during the 2nd quarter worth about $124,508,000. Janus Henderson Group PLC boosted its stake in shares of Intercontinental Exchange by 589.4% during the 1st quarter. Janus Henderson Group PLC now owns 804,507 shares of the financial services provider’s stock worth $110,559,000 after purchasing an additional 687,817 shares during the last quarter. Finally, James Hambro & Partners acquired a new stake in shares of Intercontinental Exchange during the 2nd quarter worth about $93,340,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ICE has been the topic of several analyst reports. Barclays raised their price target on shares of Intercontinental Exchange from $167.00 to $179.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research report on Friday, October 4th. Citigroup raised their target price on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. raised their target price on shares of Intercontinental Exchange from $151.00 to $171.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $170.67.

Intercontinental Exchange Trading Up 1.1 %

ICE opened at $164.38 on Tuesday. The firm has a market capitalization of $94.29 billion, a P/E ratio of 37.70, a P/E/G ratio of 2.62 and a beta of 1.08. The firm’s 50 day moving average is $159.50 and its 200-day moving average is $145.53. Intercontinental Exchange, Inc. has a 52-week low of $104.49 and a 52-week high of $164.75. 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 (NYSE:ICE) last posted its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.03. The company had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The business’s quarterly revenue was up 22.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.43 earnings per share. Analysts expect that Intercontinental Exchange, Inc. will post 6.08 EPS for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Andrew J. Surdykowski sold 2,048 shares of Intercontinental Exchange stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the sale, the general counsel now owns 44,865 shares in the company, valued at approximately $7,159,108.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Intercontinental Exchange news, CFO Warren Gardiner sold 750 shares of Intercontinental Exchange stock in a transaction on Monday, September 9th. The shares were sold at an average price of $161.43, for a total value of $121,072.50. Following the completion of the transaction, the chief financial officer now owns 16,576 shares of the company’s stock, valued at $2,675,863.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of Intercontinental Exchange stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total transaction of $326,799.36. Following the completion of the transaction, the general counsel now directly owns 44,865 shares of the company’s stock, valued at approximately $7,159,108.05. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,532 shares of company stock worth $1,507,309. Insiders own 1.10% of the company’s stock.

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.