SYSTM Wealth Solutions LLC Cuts Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

SYSTM Wealth Solutions LLC cut its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 82.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 277 shares of the financial services provider’s stock after selling 1,273 shares during the period. SYSTM Wealth Solutions LLC’s holdings in Intercontinental Exchange were worth $38,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ICE. American National Bank lifted its holdings in shares of Intercontinental Exchange by 13.8% in the second quarter. American National Bank now owns 569 shares of the financial services provider’s stock worth $78,000 after buying an additional 69 shares in the last quarter. Catalyst Financial Partners LLC increased its holdings in Intercontinental Exchange by 3.4% in the 2nd quarter. Catalyst Financial Partners LLC now owns 2,223 shares of the financial services provider’s stock valued at $304,000 after acquiring an additional 73 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in Intercontinental Exchange by 1.8% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 4,083 shares of the financial services provider’s stock worth $559,000 after purchasing an additional 74 shares in the last quarter. Founders Financial Securities LLC boosted its holdings in shares of Intercontinental Exchange by 4.8% during the 2nd quarter. Founders Financial Securities LLC now owns 1,600 shares of the financial services provider’s stock valued at $219,000 after purchasing an additional 74 shares during the last quarter. Finally, Pettyjohn Wood & White Inc. grew its position in shares of Intercontinental Exchange by 0.5% during the fourth quarter. Pettyjohn Wood & White Inc. now owns 15,813 shares of the financial services provider’s stock valued at $2,031,000 after purchasing an additional 75 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors.

Insider Activity

In related news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $136.66, for a total value of $259,380.68. Following the transaction, the general counsel now owns 46,815 shares of the company’s stock, valued at approximately $6,397,737.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Intercontinental Exchange news, CFO Warren Gardiner sold 750 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $161.43, for a total value 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 approximately $2,675,863.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 transaction, the general counsel now directly owns 46,815 shares in the company, valued at approximately $6,397,737.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,096 shares of company stock valued at $9,593,983. 1.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on ICE. StockNews.com lowered Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Friday, September 6th. Deutsche Bank Aktiengesellschaft increased their target price on Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $168.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. Barclays increased their price objective on shares of Intercontinental Exchange from $159.00 to $167.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Intercontinental Exchange from $151.00 to $171.00 and gave the stock an “overweight” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $158.08.

Intercontinental Exchange Stock Down 1.5 %

Shares of NYSE:ICE opened at $158.87 on Friday. The firm has a market capitalization of $91.13 billion, a PE ratio of 36.44, a price-to-earnings-growth ratio of 2.81 and a beta of 1.08. The business has a 50 day simple moving average of $155.59 and a two-hundred day simple moving average of $142.60. Intercontinental Exchange, Inc. has a 1 year low of $104.49 and a 1 year high of $163.71. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.99.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.03. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The company had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the previous year, the business earned $1.43 EPS. Intercontinental Exchange’s revenue was up 22.7% compared to the same quarter last year. On average, equities analysts predict that Intercontinental Exchange, Inc. will post 6.04 EPS for the current year.

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.