Baer Investment Advisory LLC Purchases New Shares in Intuit Inc. (NASDAQ:INTU)

Baer Investment Advisory LLC acquired a new stake in Intuit Inc. (NASDAQ:INTU - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,843 shares of the software maker's stock, valued at approximately $3,261,000. Intuit accounts for approximately 6.8% of Baer Investment Advisory LLC's holdings, making the stock its 5th largest position.

Several other large investors also recently added to or reduced their stakes in INTU. Castlekeep Investment Advisors LLC purchased a new stake in shares of Intuit in the 4th quarter worth approximately $5,135,000. Blue Sky Capital Consultants Group Inc. acquired a new position in Intuit during the 4th quarter valued at approximately $333,000. Cache Advisors LLC acquired a new position in Intuit during the 4th quarter valued at approximately $2,195,000. GF Fund Management CO. LTD. acquired a new position in Intuit during the 4th quarter valued at approximately $33,714,000. Finally, University of Texas Texas AM Investment Management Co. increased its stake in shares of Intuit by 1,602.6% in the fourth quarter. University of Texas Texas AM Investment Management Co. now owns 647 shares of the software maker's stock worth $407,000 after acquiring an additional 609 shares during the period. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

INTU has been the topic of a number of research reports. Susquehanna reiterated a "positive" rating on shares of Intuit in a research note on Friday, May 23rd. Morgan Stanley reaffirmed an "overweight" rating and set a $785.00 price objective (up from $720.00) on shares of Intuit in a report on Friday, May 23rd. The Goldman Sachs Group increased their price objective on shares of Intuit from $750.00 to $860.00 and gave the company a "buy" rating in a report on Monday, May 19th. Hsbc Global Res raised shares of Intuit from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. Finally, HSBC raised shares of Intuit from a "hold" rating to a "buy" rating and set a $699.00 price target on the stock in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $785.33.

Intuit Trading Up 0.3%

Shares of INTU traded up $2.49 during midday trading on Wednesday, hitting $754.45. 2,501,896 shares of the stock were exchanged, compared to its average volume of 1,632,777. The stock has a fifty day simple moving average of $622.13 and a 200 day simple moving average of $621.81. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $758.42. The firm has a market cap of $210.92 billion, a P/E ratio of 73.25, a P/E/G ratio of 2.85 and a beta of 1.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

Intuit (NASDAQ:INTU - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, beating analysts' consensus estimates of $10.89 by $0.76. The firm had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.56 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business's quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $9.88 earnings per share. On average, research analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Insider Activity at Intuit

In other news, EVP Laura A. Fennell sold 8,163 shares of the business's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the completion of the sale, the executive vice president now owns 21,882 shares in the company, valued at approximately $13,401,849.72. The trade was a 27.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eve B. Burton sold 1,702 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the sale, the director now owns 8 shares of the company's stock, valued at $4,800. This represents a 99.53% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,696 shares of company stock worth $14,347,731. Corporate insiders own 2.68% of the company's stock.

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.