Geneva Capital Management LLC Sells 3,608 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Geneva Capital Management LLC trimmed its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 2.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 179,483 shares of the financial services provider’s stock after selling 3,608 shares during the quarter. Geneva Capital Management LLC’s holdings in Intercontinental Exchange were worth $24,666,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Scarborough Advisors LLC purchased a new stake in shares of Intercontinental Exchange in the 4th quarter worth $25,000. Annapolis Financial Services LLC lifted its stake in Intercontinental Exchange by 1,018.8% in the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 163 shares during the period. Redmont Wealth Advisors LLC bought a new position in Intercontinental Exchange during the 1st quarter worth about $26,000. Fortitude Family Office LLC bought a new position in Intercontinental Exchange during the 4th quarter worth about $28,000. Finally, Stuart Chaussee & Associates Inc. purchased a new position in Intercontinental Exchange during the 4th quarter valued at about $28,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE traded up $2.74 on Thursday, hitting $147.15. 3,340,329 shares of the company were exchanged, compared to its average volume of 2,363,640. The firm has a market capitalization of $84.40 billion, a P/E ratio of 33.53, a price-to-earnings-growth ratio of 2.63 and a beta of 1.06. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.76. Intercontinental Exchange, Inc. has a 1-year low of $104.49 and a 1-year high of $147.32. The stock’s 50 day moving average price is $136.13 and its 200 day moving average price is $133.81.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.48 EPS for the quarter, hitting analysts’ consensus estimates of $1.48. The company had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. The firm’s revenue was up 20.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.41 EPS. Sell-side analysts predict that Intercontinental Exchange, Inc. will post 5.96 EPS for the current year.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, major shareholder Intercontinental Exchange, Inc acquired 350,880 shares of the business’s stock in a transaction dated Thursday, April 25th. The shares were purchased at an average price of $0.87 per share, for a total transaction of $305,265.60. Following the completion of the purchase, the insider now directly owns 649,934 shares of the company’s stock, valued at $565,442.58. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Jeffrey C. Sprecher sold 58,389 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $141.68, for a total transaction of $8,272,553.52. Following the completion of the transaction, the chief executive officer now directly owns 1,179,993 shares in the company, valued at $167,181,408.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Intercontinental Exchange, Inc acquired 350,880 shares of the stock in a transaction on Thursday, April 25th. The stock was bought at an average price of $0.87 per share, for a total transaction of $305,265.60. Following the transaction, the insider now owns 649,934 shares in the company, valued at approximately $565,442.58. The disclosure for this purchase can be found here. Insiders have sold a total of 63,290 shares of company stock worth $8,937,674 over the last quarter. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ICE. The Goldman Sachs Group upgraded shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and increased their price objective for the company from $143.00 to $167.00 in a research note on Monday, July 1st. JPMorgan Chase & Co. lifted their price target on Intercontinental Exchange from $147.00 to $151.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Tuesday, July 2nd. Argus reiterated a “buy” rating and issued a $153.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, May 21st. Finally, Morgan Stanley increased their price target on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $152.07.

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.