Intercontinental Exchange Inc. $ICE Shares Acquired by Cantillon Capital Management LLC

Key Points

• Cantillon Capital Management increased its stake in Intercontinental Exchange by 0.8% in the fourth quarter, ending with 3.34 million shares valued at about $540.6 million. The position now makes ICE its 12th-largest holding and about 2.9% of its portfolio.
• ICE reported strong quarterly results, with earnings per share of $2.35 beating estimates and revenue of $3.67 billion topping expectations. Revenue rose 20.4% year over year, and analysts now expect full-year EPS of 8.16.
• Analysts remain mostly positive, with a consensus rating of Moderate Buy and an average price target of $194.60. However, some insiders have sold shares recently, including the CFO and general counsel.

Cantillon Capital Management LLC lifted its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 0.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,337,982 shares of the financial services provider's stock after purchasing an additional 25,032 shares during the period. Intercontinental Exchange comprises about 2.9% of Cantillon Capital Management LLC's investment portfolio, making the stock its 12th biggest holding. Cantillon Capital Management LLC owned about 0.59% of Intercontinental Exchange worth $540,620,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. O Shaughnessy Asset Management LLC boosted its holdings in Intercontinental Exchange by 0.4% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 98,550 shares of the financial services provider's stock worth $15,961,000 after purchasing an additional 426 shares during the period. Manchester Capital Management LLC raised its position in shares of Intercontinental Exchange by 57.0% during the 4th quarter. Manchester Capital Management LLC now owns 1,851 shares of the financial services provider's stock worth $300,000 after purchasing an additional 672 shares during the period. Hilton Head Capital Partners LLC acquired a new stake in shares of Intercontinental Exchange during the 4th quarter worth approximately $62,000. Fiera Capital Corp lifted its holdings in shares of Intercontinental Exchange by 15.6% in the 4th quarter. Fiera Capital Corp now owns 70,764 shares of the financial services provider's stock worth $11,461,000 after purchasing an additional 9,530 shares during the last quarter. Finally, Palladiem LLC acquired a new position in Intercontinental Exchange during the 4th quarter valued at approximately $239,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ICE has been the topic of a number of analyst reports. UBS Group reaffirmed a "buy" rating and issued a $205.00 price objective on shares of Intercontinental Exchange in a report on Wednesday, May 20th. Keefe, Bruyette & Woods assumed coverage on shares of Intercontinental Exchange in a research note on Wednesday, April 8th. They set an "outperform" rating and a $190.00 target price for the company. Piper Sandler restated an "overweight" rating and issued a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a research report on Wednesday, April 15th. Morgan Stanley lifted their price target on Intercontinental Exchange from $183.00 to $187.00 and gave the company an "equal weight" rating in a report on Friday, April 10th. Finally, Weiss Ratings downgraded Intercontinental Exchange from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $194.60.

Intercontinental Exchange Trading Down 0.1%

NYSE:ICE opened at $141.36 on Monday. The stock has a fifty day simple moving average of $155.83 and a 200 day simple moving average of $159.78. The firm has a market capitalization of $79.94 billion, a price-to-earnings ratio of 20.58, a price-to-earnings-growth ratio of 1.36 and a beta of 0.92. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. Intercontinental Exchange Inc. has a 1-year low of $136.67 and a 1-year high of $189.35.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.23 by $0.12. The business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The firm's revenue was up 20.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.72 earnings per share. Sell-side analysts forecast that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current year.

Insider Activity at Intercontinental Exchange

In other news, CFO Warren Gardiner sold 2,490 shares of the company's stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $156.64, for a total value of $390,033.60. Following the transaction, the chief financial officer directly owned 25,189 shares of the company's stock, valued at approximately $3,945,604.96. This represents a 9.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the business's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $151.56, for a total value of $693,083.88. Following the completion of the transaction, the general counsel owned 45,473 shares in the company, valued at $6,891,887.88. This trade represents a 9.14% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 12,001 shares of company stock worth $1,847,820. Corporate insiders own 0.84% of the company's stock.

Intercontinental Exchange Company Profile

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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