Intuit Inc. (NASDAQ:INTU) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC trimmed its position in shares of Intuit Inc. (NASDAQ:INTU) by 1.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,953 shares of the software maker’s stock after selling 77 shares during the quarter. Intech Investment Management LLC’s holdings in Intuit were worth $3,076,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. LGT Financial Advisors LLC acquired a new position in Intuit during the 2nd quarter worth approximately $25,000. Cultivar Capital Inc. acquired a new position in Intuit during the second quarter worth $26,000. Fairway Wealth LLC purchased a new position in Intuit in the second quarter worth $26,000. Northwest Investment Counselors LLC acquired a new stake in Intuit in the third quarter valued at $27,000. Finally, Hobbs Group Advisors LLC purchased a new stake in shares of Intuit during the 2nd quarter worth $35,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on INTU shares. JPMorgan Chase & Co. raised their price objective on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research note on Friday. Royal Bank of Canada reiterated an “outperform” rating and set a $760.00 price target on shares of Intuit in a research report on Friday. Barclays lowered their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday. Oppenheimer boosted their target price on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Susquehanna restated a “positive” rating and issued a $757.00 price target on shares of Intuit in a research report on Friday, August 16th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $737.44.

Intuit Trading Down 5.7 %

Shares of INTU stock opened at $640.12 on Friday. The firm’s 50-day simple moving average is $634.81 and its 200-day simple moving average is $631.20. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78. The firm has a market cap of $179.31 billion, a P/E ratio of 62.15, a PEG ratio of 3.32 and a beta of 1.25.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.28%. Intuit’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the business earned $1.14 EPS. As a group, equities analysts forecast that Intuit Inc. will post 14.05 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Alex G. Balazs sold 2,941 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the completion of the sale, the executive vice president now owns 20 shares in the company, valued at approximately $12,575.20. The trade was a 99.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sandeep Aujla sold 775 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total transaction of $466,015.25. Following the completion of the transaction, the chief financial officer now owns 4,451 shares in the company, valued at $2,676,430.81. The trade was a 14.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,297 shares of company stock worth $35,220,046 over the last three months. 2.90% of the stock is owned by insiders.

About Intuit

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.