Bank of New York Mellon Corp Has $1.50 Billion Holdings in Intuit Inc. (NASDAQ:INTU)

Bank of New York Mellon Corp boosted its holdings in Intuit Inc. (NASDAQ:INTU) by 3.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,386,228 shares of the software maker’s stock after acquiring an additional 88,487 shares during the period. Bank of New York Mellon Corp’s holdings in Intuit were worth $1,499,744,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp increased its holdings in shares of Intuit by 1.8% during the third quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock worth $7,648,910,000 after purchasing an additional 221,885 shares during the period. Geode Capital Management LLC grew its position in Intuit by 1.4% during the third quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker’s stock worth $3,701,762,000 after buying an additional 80,463 shares in the last quarter. Fisher Asset Management LLC grew 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 buying an additional 107,482 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Intuit by 4.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,300,789 shares of the software maker’s stock worth $1,428,790,000 after acquiring an additional 87,517 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Intuit by 1.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,688,445 shares of the software maker’s stock valued at $1,048,524,000 after acquiring an additional 26,914 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Stock Performance

Shares of Intuit stock opened at $567.24 on Tuesday. The stock has a market cap of $158.78 billion, a price-to-earnings ratio of 55.07, a P/E/G ratio of 2.85 and a beta of 1.24. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78. The company’s fifty day moving average is $610.15 and its 200 day moving average is $628.07.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on INTU. Scotiabank assumed coverage on Intuit in a report on Monday, November 18th. They set a “sector perform” rating and a $700.00 target price on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $760.00 price objective on shares of Intuit in a research note on Friday, November 22nd. Jefferies Financial Group boosted their target price on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Redburn Atlantic started coverage on shares of Intuit in a research report on Wednesday, February 19th. They set a “neutral” rating on the stock. Finally, Piper Sandler restated an “overweight” rating and set a $765.00 target price on shares of Intuit in a research note on Friday, January 10th. One investment 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’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $726.71.

Insider Buying and Selling at Intuit

In other news, CAO Lauren D. Hotz sold 1,078 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the transaction, the chief accounting officer now owns 1,864 shares in the company, valued at approximately $1,154,337.92. The trade was a 36.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Scott D. Cook sold 73,655 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $664.94, for a total transaction of $48,976,155.70. Following the sale, the insider now owns 6,301,286 shares of the company’s stock, valued at approximately $4,189,977,112.84. This trade represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 218,014 shares of company stock worth $140,855,687. Insiders own 2.68% of the company’s stock.

Intuit Company Profile

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.