Axecap Investments LLC Makes New Investment in Intercontinental Exchange, Inc. (NYSE:ICE)

Axecap Investments LLC bought a new position in Intercontinental Exchange, Inc. (NYSE:ICE) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 20,325 shares of the financial services provider’s stock, valued at approximately $3,265,000. Intercontinental Exchange makes up approximately 2.5% of Axecap Investments LLC’s portfolio, making the stock its 12th biggest holding.

Several other hedge funds have also added to or reduced their stakes in the stock. Raleigh Capital Management Inc. boosted its holdings in Intercontinental Exchange by 26.4% in the third quarter. Raleigh Capital Management Inc. now owns 302 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 63 shares in the last quarter. American National Bank raised its stake in shares of Intercontinental Exchange by 13.8% in the second quarter. American National Bank now owns 569 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 69 shares during the last quarter. Veracity Capital LLC raised its stake in shares of Intercontinental Exchange by 3.4% in the third quarter. Veracity Capital LLC now owns 2,206 shares of the financial services provider’s stock worth $354,000 after purchasing an additional 72 shares during the last quarter. Catalyst Financial Partners LLC raised its stake in shares of Intercontinental Exchange by 3.4% in the second quarter. Catalyst Financial Partners LLC now owns 2,223 shares of the financial services provider’s stock worth $304,000 after purchasing an additional 73 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in shares of Intercontinental Exchange by 1.8% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 4,083 shares of the financial services provider’s stock worth $559,000 after purchasing an additional 74 shares during the last quarter. 89.30% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ICE has been the subject of several recent analyst reports. The Goldman Sachs Group boosted their price target on Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $168.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. StockNews.com cut Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Monday. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research report on Friday, October 4th. Finally, JPMorgan Chase & Co. upped their price target on Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Intercontinental Exchange has an average rating of “Moderate Buy” and an average target price of $173.93.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $165.00 on Thursday. The business has a 50-day moving average price of $161.21 and a 200-day moving average price of $146.86. Intercontinental Exchange, Inc. has a twelve month low of $104.49 and a twelve month high of $167.23. The firm has a market cap of $94.64 billion, a price-to-earnings ratio of 37.84, a price-to-earnings-growth ratio of 2.62 and a beta of 1.08. 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 released its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.03. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The business had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the previous year, the company posted $1.43 EPS. The company’s revenue was up 22.7% compared to the same quarter last year. As a group, equities research analysts predict that Intercontinental Exchange, Inc. will post 6.08 EPS for the current fiscal year.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, CFO Warren Gardiner sold 750 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $161.43, for a total transaction of $121,072.50. Following the completion of the transaction, the chief financial officer now owns 16,576 shares in the company, valued at $2,675,863.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Intercontinental Exchange news, CFO Warren Gardiner sold 750 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $161.43, for a total transaction of $121,072.50. Following the completion of the transaction, the chief financial officer now owns 16,576 shares in the company, valued at $2,675,863.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the stock in a transaction 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 owns 44,865 shares of the company’s stock, valued at $7,159,108.05. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,489 shares of company stock valued at $1,202,259 over the last 90 days. 1.10% of the stock is owned by corporate insiders.

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.