Intuit Inc. (NASDAQ:INTU) Shares Bought by Truvestments Capital LLC

Truvestments Capital LLC grew its stake in Intuit Inc. (NASDAQ:INTU) by 1.5% in the third quarter, Holdings Channel reports. The fund owned 1,078 shares of the software maker’s stock after purchasing an additional 16 shares during the period. Truvestments Capital LLC’s holdings in Intuit were worth $669,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Fisher Asset Management LLC increased its position in Intuit by 2.9% during the third quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock worth $2,376,984,000 after purchasing an additional 107,482 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Intuit by 1.0% in the 2nd quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker’s stock valued at $1,538,236,000 after buying an additional 23,995 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Intuit by 1.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,688,445 shares of the software maker’s stock worth $1,048,524,000 after buying an additional 26,914 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Intuit by 17.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock valued at $1,062,578,000 after buying an additional 238,486 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in Intuit by 4.2% in the second quarter. Principal Financial Group Inc. now owns 1,407,862 shares of the software maker’s stock valued at $925,262,000 after acquiring an additional 56,370 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Trading Up 0.7 %

INTU opened at $644.50 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market capitalization of $180.49 billion, a price-to-earnings ratio of 62.15, a PEG ratio of 3.13 and a beta of 1.25. The business has a fifty day moving average price of $634.81 and a 200 day moving average price of $631.19. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same period in the prior year, the firm earned $1.14 earnings per share. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. Sell-side analysts expect that Intuit Inc. will post 14.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on INTU. Royal Bank of Canada reissued an “outperform” rating and set a $760.00 target price on shares of Intuit in a research note on Friday. BMO Capital Markets boosted their price objective on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Oppenheimer upped their target price on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research report on Friday. Bank of America lifted their price target on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Finally, Barclays decreased their price objective on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Intuit has a consensus rating of “Moderate Buy” and a consensus target price of $737.44.

Insider Activity

In other Intuit news, EVP Laura A. Fennell sold 30,159 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $642.36, for a total value of $19,372,935.24. Following the transaction, the executive vice president now directly owns 52,038 shares in the company, valued at $33,427,129.68. This represents a 36.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Sandeep Aujla sold 775 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total transaction of $466,015.25. Following the sale, the chief financial officer now owns 4,451 shares of the company’s stock, valued at $2,676,430.81. This represents a 14.83 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,265 shares of company stock worth $35,200,125. 2.90% of the stock is currently owned by corporate 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.