Tandem Investment Advisors Inc. Has $113.25 Million Stake in Intercontinental Exchange Inc. $ICE

Key Points

• Tandem Investment Advisors trimmed its Intercontinental Exchange stake by 11.7% in the first quarter, but ICE remains its biggest holding at about $113.25 million.
• Insiders have been selling shares, including CTO Mayur Kapani and General Counsel Andrew J. Surdykowski, with about 13,425 shares sold over the last 90 days.
• ICE reported strong quarterly results, beating earnings expectations with EPS of $2.35 and revenue of $3.67 billion, while analysts still rate the stock a Moderate Buy with a consensus target price of $181.58.

Tandem Investment Advisors Inc. lessened its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 11.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 720,083 shares of the financial services provider's stock after selling 95,037 shares during the period. Intercontinental Exchange comprises about 5.6% of Tandem Investment Advisors Inc.'s holdings, making the stock its biggest position. Tandem Investment Advisors Inc. owned about 0.13% of Intercontinental Exchange worth $113,255,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the company. Ares Financial Consulting LLC purchased a new stake in Intercontinental Exchange in the 4th quarter worth about $25,000. Brooklands Fund Management Ltd bought a new stake in Intercontinental Exchange during the 4th quarter worth approximately $28,000. Dorato Capital Management purchased a new stake in shares of Intercontinental Exchange in the fourth quarter worth $29,000. Swiss RE Ltd. purchased a new stake in shares of Intercontinental Exchange in the 4th quarter valued at about $28,000. Finally, Steph & Co. boosted its position in shares of Intercontinental Exchange by 104.7% during the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 89 shares during the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intercontinental Exchange

In other news, CTO Mayur Kapani sold 4,271 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $155.42, for a total transaction of $663,798.82. Following the transaction, the chief technology officer directly owned 64,869 shares of the company's stock, valued at $10,081,939.98. This represents a 6.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Andrew J. Surdykowski sold 4,573 shares of the firm's stock in a transaction on Tuesday, May 26th. The stock was 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 approximately $6,891,887.88. This trade represents a 9.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 13,425 shares of company stock worth $2,046,324. 0.84% of the stock is owned by corporate insiders.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $139.55 on Friday. The company has a 50 day moving average price of $140.83 and a 200-day moving average price of $154.78. Intercontinental Exchange Inc. has a 52 week low of $121.79 and a 52 week high of $189.35. The firm has a market capitalization of $78.92 billion, a PE ratio of 20.31, a P/E/G ratio of 1.44 and a beta of 0.94. 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 (NYSE:ICE - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, beating analysts' consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the prior year, the firm earned $1.72 earnings per share. The firm's revenue for the quarter was up 20.4% compared to the same quarter last year. As a group, equities research analysts expect that Intercontinental Exchange Inc. will post 8.07 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Keefe, Bruyette & Woods began coverage on shares of Intercontinental Exchange in a research report on Wednesday, April 8th. They issued an "outperform" rating and a $190.00 target price for the company. Barclays cut their target price on shares of Intercontinental Exchange from $201.00 to $180.00 and set an "overweight" rating on the stock in a report on Thursday, July 9th. Raymond James Financial set a $208.00 price target on Intercontinental Exchange in a report on Monday, July 6th. Weiss Ratings lowered shares of Intercontinental Exchange from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, June 17th. Finally, The Goldman Sachs Group lowered their target price on Intercontinental Exchange from $208.00 to $180.00 and set a "buy" rating for the company in a research note on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, Intercontinental Exchange has an average rating of "Moderate Buy" and a consensus target price of $181.58.

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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