Woodmont Investment Counsel LLC Buys Shares of 1,785 Intercontinental Exchange, Inc. (NYSE:ICE)

Woodmont Investment Counsel LLC bought a new stake in Intercontinental Exchange, Inc. (NYSE:ICE) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,785 shares of the financial services provider’s stock, valued at approximately $245,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Intercontinental Exchange by 2.2% during the third quarter. Vanguard Group Inc. now owns 46,919,116 shares of the financial services provider’s stock worth $5,162,041,000 after buying an additional 1,012,034 shares during the period. Wellington Management Group LLP boosted its position in shares of Intercontinental Exchange by 35.0% during the fourth quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock worth $2,105,994,000 after buying an additional 4,251,371 shares during the period. Capital World Investors boosted its position in shares of Intercontinental Exchange by 35.6% during the fourth quarter. Capital World Investors now owns 9,643,762 shares of the financial services provider’s stock worth $1,238,559,000 after buying an additional 2,530,119 shares during the period. Parnassus Investments LLC boosted its position in shares of Intercontinental Exchange by 23.8% during the fourth quarter. Parnassus Investments LLC now owns 8,429,851 shares of the financial services provider’s stock worth $1,082,646,000 after buying an additional 1,621,737 shares during the period. Finally, Norges Bank acquired a new position in shares of Intercontinental Exchange during the fourth quarter worth approximately $839,259,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Price Performance

ICE opened at $140.82 on Wednesday. The stock has a fifty day moving average of $134.62 and a 200-day moving average of $133.00. The firm has a market capitalization of $80.77 billion, a P/E ratio of 32.30, a PEG ratio of 2.55 and a beta of 1.06. Intercontinental Exchange, Inc. has a 12-month low of $104.49 and a 12-month high of $140.98. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.76.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.48. The company had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. The company’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.41 earnings per share. Equities analysts forecast that Intercontinental Exchange, Inc. will post 5.96 EPS for the current fiscal year.

Insider Activity

In other news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $136.66, for a total value of $259,380.68. Following the completion of the sale, the general counsel now owns 46,815 shares in the company, valued at $6,397,737.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Judith A. Sprieser sold 2,267 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $134.57, for a total transaction of $305,070.19. Following the completion of the sale, the director now directly owns 28,849 shares in the company, valued at $3,882,209.93. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 1,898 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $136.66, for a total value of $259,380.68. Following the sale, the general counsel now owns 46,815 shares of the company’s stock, valued at $6,397,737.90. The disclosure for this sale can be found here. Insiders sold 4,506 shares of company stock worth $609,374 over the last quarter. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods reduced their price objective on Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. Rosenblatt Securities reiterated a “buy” rating and set a $164.00 price objective on shares of Intercontinental Exchange in a research report on Friday, May 3rd. JPMorgan Chase & Co. upped their target price on Intercontinental Exchange from $147.00 to $151.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. The Goldman Sachs Group upgraded Intercontinental Exchange from a “neutral” rating to a “buy” rating and upped their target price for the stock from $143.00 to $167.00 in a research report on Monday. Finally, Argus restated a “buy” rating and issued a $153.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, May 21st. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $151.29.

Intercontinental Exchange 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.