Mawer Investment Management Ltd. Has $514.24 Million Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Mawer Investment Management Ltd. lessened its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 30.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,201,162 shares of the financial services provider’s stock after selling 1,415,746 shares during the quarter. Intercontinental Exchange comprises about 2.3% of Mawer Investment Management Ltd.’s investment portfolio, making the stock its 13th largest position. Mawer Investment Management Ltd. owned approximately 0.56% of Intercontinental Exchange worth $514,235,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Wolff Wiese Magana LLC increased its holdings in shares of Intercontinental Exchange by 1,470.0% in the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 147 shares in the last quarter. Northwest Investment Counselors LLC bought a new stake in shares of Intercontinental Exchange in the third quarter worth about $26,000. Financial Management Professionals Inc. increased its holdings in shares of Intercontinental Exchange by 106.1% in the third quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 87 shares in the last quarter. Fairscale Capital LLC bought a new position in shares of Intercontinental Exchange during the second quarter worth about $25,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Intercontinental Exchange during the third quarter worth about $29,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Activity at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total transaction of $326,799.36. Following the transaction, the general counsel now directly owns 44,865 shares in the company, valued at approximately $7,159,108.05. This trade represents a 4.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO James W. Namkung sold 1,171 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $160.00, for a total transaction of $187,360.00. Following the completion of the sale, the chief accounting officer now owns 16,665 shares of the company’s stock, valued at approximately $2,666,400. This trade represents a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,489 shares of company stock valued at $1,202,259. Insiders own 1.10% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of ICE opened at $155.75 on Monday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. The firm has a market cap of $89.43 billion, a PE ratio of 36.86, a P/E/G ratio of 2.57 and a beta of 1.08. Intercontinental Exchange, Inc. has a 1-year low of $110.64 and a 1-year high of $167.99. The firm has a fifty day simple moving average of $160.97 and a two-hundred day simple moving average of $150.22.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, meeting the consensus estimate of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The business had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the prior year, the firm earned $1.46 EPS. The business’s revenue was up 17.3% on a year-over-year basis. On average, equities analysts anticipate that Intercontinental Exchange, Inc. will post 6.07 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ICE. Raymond James cut Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price target for the company. in a research report on Monday, October 14th. The Goldman Sachs Group raised their price objective on Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Bank of America lifted their price target on Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Piper Sandler raised their price objective on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Finally, StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Intercontinental Exchange 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.