MONECO Advisors LLC Acquires 112 Shares of Intuit Inc. (NASDAQ:INTU)

MONECO Advisors LLC lifted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 10.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,228 shares of the software maker’s stock after purchasing an additional 112 shares during the quarter. MONECO Advisors LLC’s holdings in Intuit were worth $772,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Nordea Investment Management AB increased its stake in Intuit by 83.2% during the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after acquiring an additional 268,060 shares during the period. Whalen Wealth Management Inc. acquired a new stake in shares of Intuit during the 4th quarter worth $621,000. Harvest Portfolios Group Inc. raised its stake in Intuit by 5.4% in the third quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock valued at $22,295,000 after purchasing an additional 1,853 shares in the last quarter. Retireful LLC bought a new stake in Intuit during the third quarter worth about $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Intuit during the third quarter worth about $56,144,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Stock Performance

Shares of INTU opened at $565.47 on Monday. The firm’s fifty day simple moving average is $612.23 and its two-hundred day simple moving average is $628.49. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. The stock has a market capitalization of $158.28 billion, a P/E ratio of 54.90, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.14 EPS. As a group, analysts predict that Intuit Inc. will post 14.09 EPS for the current year.

Insider Activity at Intuit

In other news, insider Scott D. Cook sold 73,655 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $664.94, for a total value of $48,976,155.70. Following the completion of the sale, the insider now directly owns 6,301,286 shares in the company, valued at $4,189,977,112.84. This trade represents a 1.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Alex G. Balazs sold 23,810 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $665.98, for a total value of $15,856,983.80. Following the completion of the sale, the executive vice president now directly owns 489 shares of the company’s stock, valued at $325,664.22. The trade was a 97.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 218,014 shares of company stock worth $140,855,687 in the last quarter. Company insiders own 2.68% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Redburn Atlantic initiated coverage on shares of Intuit in a report on Wednesday, February 19th. They set a “neutral” rating on the stock. JPMorgan Chase & Co. increased their target price on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Jefferies Financial Group lifted their price target on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Finally, BNP Paribas downgraded shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a research report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and an average price target of $726.71.

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.