BI Asset Management Fondsmaeglerselskab A S Boosts Stock Holdings in Intuit Inc. $INTU

Key Points

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BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 21.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 48,349 shares of the software maker's stock after purchasing an additional 8,567 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Intuit were worth $29,686,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Copia Wealth Management purchased a new position in Intuit in the 4th quarter worth approximately $25,000. Heck Capital Advisors LLC acquired a new stake in shares of Intuit in the fourth quarter valued at approximately $28,000. Olde Wealth Management LLC purchased a new position in Intuit during the first quarter worth approximately $37,000. Atlantic Edge Private Wealth Management LLC lifted its position in Intuit by 523.1% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 81 shares of the software maker's stock worth $50,000 after buying an additional 68 shares in the last quarter. Finally, Hughes Financial Services LLC acquired a new position in Intuit during the first quarter worth $50,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Trading Down 0.2%

Shares of Intuit stock traded down $1.39 on Thursday, reaching $697.76. The company had a trading volume of 2,497,899 shares, compared to its average volume of 1,726,857. The firm's 50 day moving average price is $758.91 and its two-hundred day moving average price is $673.86. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $813.70. The firm has a market cap of $194.64 billion, a PE ratio of 56.64, a PEG ratio of 2.69 and a beta of 1.28.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping 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 19.07% and a return on equity of 21.46%. The firm's quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter last year, the company posted $9.88 EPS. Sell-side analysts predict that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Intuit

In related news, insider Scott D. Cook sold 72,442 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $741.29, for a total transaction of $53,700,530.18. Following the transaction, the insider owned 6,063,495 shares of the company's stock, valued at approximately $4,494,808,208.55. This represents a 1.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kerry J. Mclean sold 16,700 shares of Intuit stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $729.16, for a total value of $12,176,972.00. Following the completion of the transaction, the executive vice president directly owned 23,101 shares of the company's stock, valued at approximately $16,844,325.16. This represents a 41.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 279,800 shares of company stock valued at $209,725,054. Corporate insiders own 2.68% of the company's stock.

Analyst Upgrades and Downgrades

INTU has been the subject of a number of recent research reports. Oppenheimer raised their target price on Intuit from $742.00 to $868.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. BMO Capital Markets raised their price objective on shares of Intuit from $820.00 to $870.00 and gave the stock an "outperform" rating in a research report on Thursday, July 10th. KeyCorp reaffirmed an "overweight" rating and set a $850.00 target price (up from $770.00) on shares of Intuit in a research note on Friday, May 23rd. Evercore ISI boosted their target price on shares of Intuit from $685.00 to $785.00 and gave the company an "outperform" rating in a report on Friday, May 23rd. Finally, Bank of America increased their price target on shares of Intuit from $730.00 to $875.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $809.86.

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.