Blue Sky Capital Consultants Group Inc. Makes New $333,000 Investment in Intuit Inc. (NASDAQ:INTU)

Blue Sky Capital Consultants Group Inc. purchased a new stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 530 shares of the software maker's stock, valued at approximately $333,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. R Squared Ltd acquired a new position in shares of Intuit during the 4th quarter worth approximately $25,000. NewSquare Capital LLC raised its position in shares of Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after purchasing an additional 18 shares during the last quarter. Heck Capital Advisors LLC acquired a new position in shares of Intuit during the 4th quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Intuit during the 4th quarter worth approximately $28,000. Finally, Summit Securities Group LLC acquired a new position in shares of Intuit during the 4th quarter worth approximately $28,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Eve B. Burton sold 1,702 shares of Intuit stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the transaction, the director now owns 8 shares in the company, valued at approximately $4,800. The trade was a 99.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Laura A. Fennell sold 8,163 shares of Intuit stock in a transaction 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 transaction, the executive vice president now owns 21,882 shares in the company, valued at $13,401,849.72. The trade was a 27.17% decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,696 shares of company stock valued at $14,347,731 in the last ninety days. Company insiders own 2.68% of the company's stock.

Intuit Trading Up 0.3%

Shares of NASDAQ INTU traded up $2.49 during trading on Wednesday, hitting $754.45. 2,482,427 shares of the company traded hands, compared to its average volume of 1,632,776. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $758.42. The company has a 50-day moving average price of $622.13 and a 200-day moving average price of $621.81. The firm has a market capitalization 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 quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

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 (EPS) for the quarter, beating the consensus estimate of $10.89 by $0.76. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.56 billion. During the same period in the previous year, the company earned $9.88 EPS. The business's quarterly revenue was up 15.1% compared to the same quarter last year. On average, equities analysts predict that Intuit Inc. will post 14.09 EPS for the current year.

Analyst Upgrades and Downgrades

INTU has been the subject of several research reports. Bank of America lifted their price objective on Intuit from $730.00 to $875.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Jefferies Financial Group set a $850.00 price objective on Intuit and gave the stock a "buy" rating in a research report on Friday, May 23rd. Scotiabank upgraded Intuit from a "sector perform" rating to a "sector outperform" rating and lifted their price objective for the stock from $600.00 to $700.00 in a research report on Thursday, April 17th. Wells Fargo & Company restated an "overweight" rating and set a $825.00 price objective (up from $775.00) on shares of Intuit in a research report on Friday, May 23rd. Finally, BMO Capital Markets restated an "outperform" rating and set a $820.00 price objective (up from $714.00) on shares of Intuit in a research report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Intuit currently has a consensus rating of "Moderate Buy" and an average price target of $785.33.

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.