Flputnam Investment Management Co. Sells 7,231 Shares of Intercontinental Exchange Inc. $ICE

Key Points

• Flputnam Investment Management cut its Intercontinental Exchange position by 27.7% in the fourth quarter, selling 7,231 shares and leaving it with 18,859 shares valued at about $3.05 million.
• Intercontinental Exchange reported strong quarterly results, beating estimates with EPS of $2.35 and revenue of $3.67 billion, up 20.4% year over year.
• Insiders have also been selling shares, including CFO Warren Gardiner and CTO Mayur Kapani, while analysts remain broadly positive with a consensus Buy rating and a $194.60 price target.

Flputnam Investment Management Co. decreased its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 27.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,859 shares of the financial services provider's stock after selling 7,231 shares during the period. Flputnam Investment Management Co.'s holdings in Intercontinental Exchange were worth $3,054,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Ares Financial Consulting LLC bought a new stake in Intercontinental Exchange during the fourth quarter worth about $25,000. Dorato Capital Management bought a new stake in Intercontinental Exchange during the fourth quarter worth about $29,000. Steph & Co. boosted its stake in Intercontinental Exchange by 104.7% during the fourth quarter. Steph & Co. now owns 174 shares of the financial services provider's stock worth $28,000 after acquiring an additional 89 shares in the last quarter. Holos Integrated Wealth LLC bought a new stake in Intercontinental Exchange during the fourth quarter worth about $28,000. Finally, Lloyd Advisory Services LLC. bought a new stake in Intercontinental Exchange during the fourth quarter worth about $30,000. Institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Stock Down 0.7%

Shares of Intercontinental Exchange stock opened at $149.52 on Thursday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $84.55 billion, a PE ratio of 21.76, a price-to-earnings-growth ratio of 1.40 and a beta of 0.96. Intercontinental Exchange Inc. has a 52-week low of $143.17 and a 52-week high of $189.35. The company has a 50-day simple moving average of $157.82 and a two-hundred day simple moving average of $160.16.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.12. The business had revenue of $3.67 billion during the quarter, compared to analysts' expectations of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The business's revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.72 earnings per share. On average, analysts anticipate that Intercontinental Exchange Inc. will post 8.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other Intercontinental Exchange news, CFO Warren Gardiner sold 2,490 shares of Intercontinental Exchange stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $156.64, for a total value of $390,033.60. Following the completion of the transaction, the chief financial officer directly owned 25,189 shares of the company's stock, valued at approximately $3,945,604.96. The trade was a 9.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Mayur Kapani sold 4,271 shares of Intercontinental Exchange stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $155.42, for a total transaction of $663,798.82. Following the completion of the transaction, the chief technology officer directly owned 64,869 shares of the company's stock, valued at $10,081,939.98. This trade represents a 6.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 7,428 shares of company stock valued at $1,154,736. Insiders own 0.84% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on ICE. UBS Group reissued a "buy" rating and set a $205.00 price objective on shares of Intercontinental Exchange in a research note on Wednesday, May 20th. Weiss Ratings lowered shares of Intercontinental Exchange from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, April 24th. TD Cowen reissued a "buy" rating on shares of Intercontinental Exchange in a research note on Friday, February 6th. Morgan Stanley boosted their price objective on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the stock an "equal weight" rating in a research note on Friday, April 10th. Finally, Keefe, Bruyette & Woods began coverage on shares of Intercontinental Exchange in a research note on Wednesday, April 8th. They set an "outperform" rating and a $190.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $194.60.

About Intercontinental Exchange

Intercontinental Exchange NYSE: ICE is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.

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