Ironwood Investment Management LLC Invests $569,000 in Intercontinental Exchange, Inc. (NYSE:ICE)

Ironwood Investment Management LLC bought a new stake in Intercontinental Exchange, Inc. (NYSE:ICE) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 4,153 shares of the financial services provider’s stock, valued at approximately $569,000.

Several other large investors also recently bought and sold shares of ICE. Scarborough Advisors LLC purchased a new stake in Intercontinental Exchange during the fourth quarter valued at approximately $25,000. Annapolis Financial Services LLC boosted its stake in Intercontinental Exchange by 1,018.8% during the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after buying an additional 163 shares during the period. New Millennium Group LLC purchased a new stake in shares of Intercontinental Exchange in the second quarter valued at $25,000. International Assets Investment Management LLC bought a new stake in shares of Intercontinental Exchange in the 2nd quarter worth about $25,000. Finally, Fairscale Capital LLC purchased a new position in shares of Intercontinental Exchange during the 2nd quarter worth about $25,000. Institutional investors own 89.30% of the company’s stock.

Insiders Place Their Bets

In other news, insider Christopher Scott Edmonds sold 602 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total transaction of $98,011.62. Following the completion of the sale, the insider now owns 14,034 shares in the company, valued at approximately $2,284,875.54. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Intercontinental Exchange news, CTO Mayur Kapani sold 395 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $141.13, for a total transaction of $55,746.35. Following the transaction, the chief technology officer now owns 64,471 shares in the company, valued at approximately $9,098,792.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher Scott Edmonds sold 602 shares of Intercontinental Exchange stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total transaction of $98,011.62. Following the sale, the insider now owns 14,034 shares of the company’s stock, valued at $2,284,875.54. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,268 shares of company stock valued at $9,508,809. 1.10% of the stock is currently owned by insiders.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $158.62 on Monday. Intercontinental Exchange, Inc. has a 52-week low of $104.49 and a 52-week high of $163.71. The company’s 50 day moving average is $156.89 and its 200 day moving average is $143.54. The firm has a market cap of $90.98 billion, a price-to-earnings ratio of 36.38, a PEG ratio of 2.81 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 issued 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. The firm had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The company’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.43 EPS. On average, sell-side analysts anticipate that Intercontinental Exchange, Inc. will post 6.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective 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. The Goldman Sachs Group raised Intercontinental Exchange from a “neutral” rating to a “buy” rating and raised their price target for the stock from $143.00 to $167.00 in a research note on Monday, July 1st. StockNews.com cut Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Friday, September 6th. Barclays increased their target price on Intercontinental Exchange from $159.00 to $167.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $162.47.

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.