Synergy Asset Management LLC Acquires 7,656 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Synergy Asset Management LLC boosted its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 331.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,968 shares of the financial services provider’s stock after purchasing an additional 7,656 shares during the period. Synergy Asset Management LLC’s holdings in Intercontinental Exchange were worth $1,515,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of ICE. Wolff Wiese Magana LLC raised its stake in shares of Intercontinental Exchange by 1,470.0% in the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 147 shares during the last quarter. Northwest Investment Counselors LLC bought a new position in Intercontinental Exchange in the 3rd quarter worth approximately $26,000. Financial Management Professionals Inc. lifted its holdings in Intercontinental Exchange by 106.1% during the 3rd quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock worth $27,000 after buying an additional 87 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in Intercontinental Exchange during the 3rd quarter worth $29,000. Finally, FSA Wealth Management LLC acquired a new stake in shares of Intercontinental Exchange in the 3rd quarter valued at $31,000. Institutional investors own 89.30% of the company’s stock.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, President Benjamin Jackson sold 5,828 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $160.00, for a total value of $932,480.00. Following the sale, the president now owns 156,163 shares in the company, valued at approximately $24,986,080. The trade was a 3.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Mayur Kapani sold 5,661 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $147.59, for a total transaction of $835,506.99. Following the transaction, the chief technology officer now directly owns 66,548 shares of the company’s stock, valued at $9,821,819.32. This represents a 7.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,795 shares of company stock valued at $2,120,572. 1.10% of the stock is owned by corporate insiders.

Intercontinental Exchange Stock Down 1.0 %

Shares of Intercontinental Exchange stock opened at $157.25 on Thursday. Intercontinental Exchange, Inc. has a 1 year low of $124.34 and a 1 year high of $167.99. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $90.29 billion, a P/E ratio of 37.26, a price-to-earnings-growth ratio of 2.95 and a beta of 1.10. The business has a 50-day moving average of $153.07 and a two-hundred day moving average of $156.32.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, hitting the consensus estimate of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period last year, the company posted $1.46 EPS. The business’s quarterly revenue was up 17.3% on a year-over-year basis. As a group, equities analysts predict that Intercontinental Exchange, Inc. will post 6.05 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group upped their price target on Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Piper Sandler upped their target price on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. StockNews.com cut shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. Raymond James lowered shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price objective on the stock. in a report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a report on Monday, November 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $175.27.

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.