Sapient Capital LLC Lowers Position in Intercontinental Exchange Inc. $ICE

Key Points

• Sapient Capital LLC reduced its holdings in Intercontinental Exchange Inc. by 9.3%, owning 87,146 shares after selling 8,912 shares in the last quarter, worth approximately $15.99 million.
• Several hedge funds significantly increased their positions in Intercontinental Exchange, with Price T. Rowe Associates boosting its stake by 491.3% to 6.43 million shares valued at over $1.1 billion.
• Although Intercontinental Exchange reported strong financial performance with a 9.8% year-over-year revenue growth, its stock has a target price range set by analysts between $195 and $212, suggesting a positive outlook.

Sapient Capital LLC lessened its holdings in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 9.3% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 87,146 shares of the financial services provider's stock after selling 8,912 shares during the period. Sapient Capital LLC's holdings in Intercontinental Exchange were worth $15,989,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Intercontinental Exchange by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 52,940,356 shares of the financial services provider's stock worth $9,132,211,000 after acquiring an additional 712,179 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Intercontinental Exchange by 491.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider's stock worth $1,109,780,000 after acquiring an additional 5,345,388 shares during the period. Amundi raised its stake in Intercontinental Exchange by 14.7% during the 1st quarter. Amundi now owns 6,315,706 shares of the financial services provider's stock worth $1,060,574,000 after acquiring an additional 810,938 shares during the period. Independent Franchise Partners LLP raised its position in shares of Intercontinental Exchange by 0.5% during the first quarter. Independent Franchise Partners LLP now owns 6,192,424 shares of the financial services provider's stock valued at $1,068,193,000 after buying an additional 31,588 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Intercontinental Exchange by 113.9% during the first quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider's stock valued at $1,025,230,000 after buying an additional 3,165,381 shares during the last quarter. Institutional investors own 89.30% of the company's stock.

Analysts Set New Price Targets

ICE has been the topic of several recent analyst reports. UBS Group lifted their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Barclays raised their target price on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Finally, Piper Sandler raised their target price on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $194.92.

Intercontinental Exchange Trading Down 0.9%

NYSE ICE traded down $1.48 on Friday, hitting $169.65. 4,806,529 shares of the stock were exchanged, compared to its average volume of 2,622,167. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a fifty day moving average price of $179.58 and a two-hundred day moving average price of $174.95. The firm has a market capitalization of $97.11 billion, a P/E ratio of 32.56, a P/E/G ratio of 2.04 and a beta of 1.10. Intercontinental Exchange Inc. has a 52-week low of $142.29 and a 52-week high of $189.35.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.77 by $0.04. The company had revenue of $3.26 billion during the quarter, compared to analyst estimates of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. Intercontinental Exchange's quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.52 earnings per share. Research analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Insider Activity

In other news, Director Duriya M. Farooqui sold 2,036 shares of the business's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $178.34, for a total transaction of $363,100.24. Following the completion of the sale, the director directly owned 14,299 shares of the company's stock, valued at approximately $2,550,083.66. The trade was a 12.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Stuart Glen Williams sold 939 shares of the company's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $172.04, for a total transaction of $161,545.56. Following the completion of the sale, the chief operating officer directly owned 16,624 shares of the company's stock, valued at approximately $2,859,992.96. This trade represents a 5.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 231,669 shares of company stock valued at $42,333,438. Insiders own 1.00% of the company's stock.

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.