Blue Sky Capital Consultants Group Inc. Acquires New Stake in Intuit Inc. (NASDAQ:INTU)

Blue Sky Capital Consultants Group Inc. acquired a new stake in Intuit Inc. (NASDAQ:INTU - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 530 shares of the software maker's stock, valued at approximately $333,000.

Several other hedge funds have also modified their holdings of INTU. Norges Bank acquired a new stake in shares of Intuit in the fourth quarter valued at $2,290,419,000. Proficio Capital Partners LLC increased its holdings in Intuit by 112,233.1% in the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker's stock valued at $668,595,000 after buying an additional 1,062,847 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Intuit by 33.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,072,021 shares of the software maker's stock valued at $1,930,765,000 after buying an additional 771,232 shares during the last quarter. Wellington Management Group LLP increased its holdings in Intuit by 13.3% in the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock valued at $3,329,115,000 after buying an additional 620,559 shares during the last quarter. Finally, Unisphere Establishment increased its holdings in Intuit by 50.0% in the fourth quarter. Unisphere Establishment now owns 1,500,000 shares of the software maker's stock valued at $942,750,000 after buying an additional 500,000 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Eve B. Burton sold 1,702 shares of the company's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $600.00, for a total value of $1,021,200.00. Following the sale, the director now owns 8 shares in the company, valued at approximately $4,800. This represents a 99.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Laura A. Fennell sold 8,163 shares of the company's stock in a transaction dated 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. This trade represents 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 4.4%

INTU traded up $31.83 during trading on Tuesday, hitting $751.96. The company's stock had a trading volume of 4,078,722 shares, compared to its average volume of 1,629,300. The firm's 50 day moving average price is $619.10 and its 200-day moving average price is $620.90. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market cap of $210.22 billion, a PE ratio of 73.01, a PEG ratio of 2.85 and a beta of 1.24. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $751.72.

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, analysts expect that Intuit Inc. will post 14.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on INTU shares. Wells Fargo & Company reaffirmed an "overweight" rating and set a $825.00 price objective (up previously from $775.00) on shares of Intuit in a report on Friday. Royal Bank of Canada reissued an "outperform" rating and set a $850.00 price target (up previously from $760.00) on shares of Intuit in a report on Friday. Bank of America lifted their price objective on Intuit from $730.00 to $875.00 and gave the company a "buy" rating in a report on Friday. Oppenheimer reaffirmed an "outperform" rating and issued a $742.00 price objective (up previously from $642.00) on shares of Intuit in a report on Friday. Finally, Wall Street Zen raised Intuit from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average 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.