Moors & Cabot Inc. Has $2.07 Million Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Moors & Cabot Inc. grew its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 14.6% in the third quarter, HoldingsChannel.com reports. The fund owned 12,893 shares of the financial services provider’s stock after acquiring an additional 1,638 shares during the quarter. Moors & Cabot Inc.’s holdings in Intercontinental Exchange were worth $2,071,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Assenagon Asset Management S.A. grew its holdings in Intercontinental Exchange by 819.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 137,074 shares of the financial services provider’s stock worth $18,764,000 after acquiring an additional 122,169 shares during the period. BDF Gestion acquired a new stake in Intercontinental Exchange during the 2nd quarter worth about $2,849,000. LRI Investments LLC acquired a new stake in shares of Intercontinental Exchange in the 1st quarter valued at about $137,000. Burke & Herbert Bank & Trust Co. acquired a new stake in shares of Intercontinental Exchange in the 2nd quarter valued at about $1,366,000. Finally, Blue Trust Inc. grew its stake in shares of Intercontinental Exchange by 312.4% in the 2nd quarter. Blue Trust Inc. now owns 5,180 shares of the financial services provider’s stock valued at $712,000 after buying an additional 3,924 shares during the period. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, General Counsel Andrew J. Surdykowski sold 2,048 shares of Intercontinental Exchange stock in a transaction that occurred 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 sale, the general counsel now owns 44,865 shares of the company’s stock, valued at approximately $7,159,108.05. The trade was a 4.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Warren Gardiner sold 750 shares of Intercontinental Exchange stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $161.43, for a total transaction of $121,072.50. Following the completion of the sale, the chief financial officer now directly owns 16,576 shares in the company, valued at $2,675,863.68. This trade represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,489 shares of company stock valued at $1,202,259. 1.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ICE. Raymond James downgraded Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 target price for the company. in a research note on Monday, October 14th. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research note on Friday, November 1st. The Goldman Sachs Group raised their target price on Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Morgan Stanley raised their target price on Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $168.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $174.13.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $155.77 on Thursday. Intercontinental Exchange, Inc. has a 52 week low of $111.82 and a 52 week high of $167.99. The company’s 50 day moving average price is $160.73 and its two-hundred day moving average price is $150.67. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. The stock has a market cap of $89.44 billion, a P/E ratio of 36.91, a P/E/G ratio of 2.61 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, hitting the consensus estimate of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The firm had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter last year, the firm earned $1.46 EPS. The company’s quarterly revenue was up 17.3% compared to the same quarter last year. On average, equities analysts predict that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current year.

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.