Commonwealth Financial Services LLC Reduces Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Commonwealth Financial Services LLC reduced its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 5.8% during the 3rd quarter, Holdings Channel reports. The fund owned 1,908 shares of the financial services provider’s stock after selling 117 shares during the period. Commonwealth Financial Services LLC’s holdings in Intercontinental Exchange were worth $307,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the business. Beese Fulmer Investment Management Inc. boosted its holdings in shares of Intercontinental Exchange by 0.3% in the 3rd quarter. Beese Fulmer Investment Management Inc. now owns 97,078 shares of the financial services provider’s stock valued at $15,595,000 after acquiring an additional 296 shares during the last quarter. X Square Capital LLC purchased a new stake in Intercontinental Exchange during the third quarter worth $267,000. International Assets Investment Management LLC boosted its holdings in Intercontinental Exchange by 21,404.8% during the third quarter. International Assets Investment Management LLC now owns 39,999 shares of the financial services provider’s stock worth $6,425,000 after buying an additional 39,813 shares in the last quarter. Axecap Investments LLC purchased a new stake in Intercontinental Exchange during the third quarter worth $3,265,000. Finally, Greenleaf Trust boosted its holdings in Intercontinental Exchange by 1.8% during the third quarter. Greenleaf Trust now owns 15,661 shares of the financial services provider’s stock worth $2,516,000 after buying an additional 282 shares in the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Trading Up 0.6 %

Intercontinental Exchange stock traded up $0.91 during midday trading on Thursday, hitting $165.91. 313,461 shares of the stock were exchanged, compared to its average volume of 2,479,397. Intercontinental Exchange, Inc. has a fifty-two week low of $104.49 and a fifty-two week high of $167.23. The stock has a market capitalization of $95.16 billion, a price-to-earnings ratio of 37.84, a PEG ratio of 2.62 and a beta of 1.08. The stock’s 50-day simple moving average is $161.21 and its 200 day simple moving average is $146.86. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.03. The company had revenue of $2.32 billion during 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%. Intercontinental Exchange’s revenue was up 22.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.43 earnings per share. On average, equities analysts anticipate that Intercontinental Exchange, Inc. will post 6.08 EPS for the current year.

Insiders Place Their Bets

In other Intercontinental Exchange news, Director Martha A. Tirinnanzi sold 509 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $158.98, for a total transaction of $80,920.82. Following the completion of the transaction, the director now owns 3,958 shares of the company’s stock, valued at $629,242.84. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, 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 value of $187,360.00. Following the completion of the transaction, the chief accounting officer now owns 16,665 shares of the company’s stock, valued at approximately $2,666,400. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Martha A. Tirinnanzi sold 509 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $158.98, for a total transaction of $80,920.82. Following the completion of the transaction, the director now directly owns 3,958 shares of the company’s stock, valued at approximately $629,242.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders 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 company insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ICE shares. Piper Sandler increased their price target on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $168.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Barclays upped their price objective on shares of Intercontinental Exchange from $167.00 to $179.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $173.93.

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.