Junto Capital Management LP Takes Position in Intercontinental Exchange Inc. $ICE

Key Points

• Junto Capital Management LP has made a new investment of approximately $19.90 million in Intercontinental Exchange, acquiring 115,344 shares, according to a recent 13F filing.
• Recent analysis shows significant upgrades from several firms, with Piper Sandler and Barclays raising their price targets to $202.00 and $212.00 respectively, indicating a strong outlook for the stock.
• Insider trading activity highlighted that key executives have sold shares recently, with the General Counsel selling 3,850 shares for $686,570.50, which reflects a decrease in their ownership stake.

Junto Capital Management LP bought a new stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 115,344 shares of the financial services provider's stock, valued at approximately $19,897,000.

Other large investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its position in Intercontinental Exchange by 491.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider's stock valued at $1,109,780,000 after acquiring an additional 5,345,388 shares in the last quarter. Royal Bank of Canada lifted its position in Intercontinental Exchange by 132.9% in the 4th quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider's stock valued at $1,359,173,000 after acquiring an additional 5,204,309 shares in the last quarter. Nuveen LLC bought a new position in Intercontinental Exchange in the 1st quarter valued at about $575,383,000. Wellington Management Group LLP lifted its position in Intercontinental Exchange by 113.9% in the 1st 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 acquiring an additional 3,165,381 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Intercontinental Exchange by 24,394.4% in the 1st quarter. GAMMA Investing LLC now owns 2,264,753 shares of the financial services provider's stock valued at $3,906,700,000 after acquiring an additional 2,255,507 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE traded down $0.17 during mid-day trading on Wednesday, reaching $174.92. The company had a trading volume of 1,930,581 shares, compared to its average volume of 2,978,787. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The firm has a market cap of $100.13 billion, a price-to-earnings ratio of 33.57, a PEG ratio of 2.11 and a beta of 1.10. The company's 50-day moving average price is $181.88 and its 200-day moving average price is $174.66. Intercontinental Exchange Inc. has a one year low of $142.29 and a one year high of $189.35.

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

Insiders Place Their Bets

In related news, CFO Warren Gardiner sold 1,570 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $178.45, for a total value of $280,166.50. Following the completion of the transaction, the chief financial officer directly owned 22,106 shares in the company, valued at approximately $3,944,815.70. The trade was a 6.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $183.09, for a total transaction of $27,463,500.00. Following the completion of the transaction, the chief executive officer owned 1,951,705 shares of the company's stock, valued at $357,337,668.45. This represents a 7.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 231,678 shares of company stock worth $42,358,043 in the last three months. Insiders own 1.00% of the company's stock.

About Intercontinental Exchange

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.