Mawer Investment Management Ltd. Sells 79,549 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Mawer Investment Management Ltd. cut its holdings in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 1.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,616,908 shares of the financial services provider's stock after selling 79,549 shares during the period. Intercontinental Exchange comprises approximately 3.0% of Mawer Investment Management Ltd.'s portfolio, making the stock its 12th biggest holding. Mawer Investment Management Ltd. owned about 0.80% of Intercontinental Exchange worth $632,009,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Scarborough Advisors LLC purchased a new stake in shares of Intercontinental Exchange during the 4th quarter worth approximately $25,000. Annapolis Financial Services LLC raised its stake in shares of Intercontinental Exchange by 1,018.8% in the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider's stock valued at $25,000 after buying an additional 163 shares during the period. New Millennium Group LLC bought a new stake in shares of Intercontinental Exchange in the second quarter valued at $25,000. International Assets Investment Management LLC purchased a new position in shares of Intercontinental Exchange during the 2nd quarter valued at $25,000. Finally, Redmont Wealth Advisors LLC bought a new position in shares of Intercontinental Exchange during the 1st quarter worth $26,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ICE has been the subject of a number of recent research reports. StockNews.com cut shares of Intercontinental Exchange from a "hold" rating to a "sell" rating in a report on Friday. Deutsche Bank Aktiengesellschaft boosted their target price on Intercontinental Exchange from $152.00 to $154.00 and gave the stock a "hold" rating in a research report on Thursday, August 15th. Barclays boosted their price target on shares of Intercontinental Exchange from $159.00 to $167.00 and gave the stock an "overweight" rating in a research note on Friday, August 2nd. Citigroup increased their target price on Intercontinental Exchange from $160.00 to $162.00 and gave the company a "buy" rating in a report on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods reissued an "outperform" rating and set a $168.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Intercontinental Exchange presently has a consensus rating of "Moderate Buy" and an average target price of $154.93.

Intercontinental Exchange Stock Up 0.2 %

ICE traded up $0.26 during trading on Tuesday, hitting $161.96. 2,008,517 shares of the company's stock traded hands, compared to its average volume of 2,456,648. The stock has a market capitalization of $92.90 billion, a price-to-earnings ratio of 37.15, a PEG ratio of 2.82 and a beta of 1.08. The company's 50 day simple moving average is $153.01 and its two-hundred day simple moving average is $141.55. Intercontinental Exchange, Inc. has a 12-month low of $104.49 and a 12-month high of $163.71. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 EPS for the quarter, topping the consensus estimate of $1.49 by $0.03. The company had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. Intercontinental Exchange's revenue for the quarter was up 22.7% on a year-over-year basis. During the same period last year, the company earned $1.43 EPS. Analysts predict that Intercontinental Exchange, Inc. will post 6.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Judith A. Sprieser sold 1,941 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $160.69, for a total value of $311,899.29. Following the transaction, the director now owns 26,908 shares in the company, valued at approximately $4,323,846.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO James W. Namkung sold 1,171 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $160.00, for a total value of $187,360.00. Following the completion of the sale, the chief accounting officer now directly owns 16,665 shares of the company's stock, valued at approximately $2,666,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Judith A. Sprieser sold 1,941 shares of the company's stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $160.69, for a total transaction of $311,899.29. Following the completion of the transaction, the director now owns 26,908 shares of the company's stock, valued at $4,323,846.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,346 shares of company stock valued at $9,472,911. Company insiders own 1.10% 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.