Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 1,800 Shares of Intuit Inc. (NASDAQ:INTU)

Fjarde AP Fonden Fourth Swedish National Pension Fund decreased its holdings in Intuit Inc. (NASDAQ:INTU) by 3.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 56,640 shares of the software maker’s stock after selling 1,800 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Intuit were worth $35,598,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. R Squared Ltd acquired a new stake in shares of Intuit in the 4th quarter worth about $25,000. Heck Capital Advisors LLC bought a new position in shares of Intuit during the 4th quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Intuit during the 4th quarter valued at approximately $28,000. Sugar Maple Asset Management LLC bought a new position in Intuit in the 4th quarter worth approximately $29,000. Finally, Denver PWM LLC bought a new position in Intuit in the 3rd quarter worth approximately $32,000. Institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on INTU. BNP Paribas downgraded shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target for the company. in a report on Wednesday, January 15th. Jefferies Financial Group increased their target price on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Oppenheimer increased their price objective on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $760.00 price objective on shares of Intuit in a report on Friday, November 22nd. Finally, Morgan Stanley increased their target price on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $726.53.

Insider Buying and Selling at Intuit

In other news, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the completion of the sale, the insider now owns 6,378,105 shares in the company, valued at $4,093,595,351.10. This trade represents a 1.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Alex G. Balazs sold 23,810 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the sale, the executive vice president now owns 489 shares of the company’s stock, valued at $325,664.22. This represents a 97.99 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 293,014 shares of company stock worth $188,992,187. Insiders own 2.68% of the company’s stock.

Intuit Price Performance

NASDAQ INTU opened at $565.47 on Friday. 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’s fifty day moving average price is $612.23 and its 200 day moving average price is $628.35. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78. The company has a market cap of $158.28 billion, a price-to-earnings ratio of 54.90, a PEG ratio of 2.85 and a beta of 1.24.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.14. The business 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 18.25%. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.14 EPS. As a group, equities research analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current year.

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.