BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 5.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 132,772 shares of the software maker's stock after acquiring an additional 7,028 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Intuit were worth $83,447,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. R Squared Ltd bought a new stake in Intuit during the 4th quarter valued at $25,000. NewSquare Capital LLC grew its position in shares of Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock valued at $27,000 after purchasing an additional 18 shares in the last quarter. Heck Capital Advisors LLC bought a new stake in shares of Intuit during the 4th quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Intuit during the 4th quarter worth about $28,000. Finally, Summit Securities Group LLC bought a new position in Intuit in the 4th quarter worth about $28,000. 83.66% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
INTU has been the topic of several analyst reports. Piper Sandler reiterated an "overweight" rating and set a $825.00 price target (up from $785.00) on shares of Intuit in a research report on Friday. UBS Group set a $750.00 price objective on shares of Intuit and gave the company a "neutral" rating in a research note on Friday. HSBC upgraded shares of Intuit from a "hold" rating to a "buy" rating and set a $699.00 target price on the stock in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. boosted their price target on shares of Intuit from $660.00 to $770.00 and gave the company an "overweight" rating in a research report on Friday. Finally, Citigroup reaffirmed a "buy" rating and issued a $789.00 price target (up previously from $726.00) on shares of Intuit in a report on Friday. One 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 company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $785.33.
Read Our Latest Analysis on INTU
Insider Activity at Intuit
In related news, EVP Laura A. Fennell sold 8,163 shares of the company's stock in a transaction dated Monday, March 24th. The stock was 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 directly owns 21,882 shares of the company's stock, valued at $13,401,849.72. This represents a 27.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Scott D. Cook sold 6,446 shares of the firm's stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $604.26, for a total value of $3,895,059.96. Following the completion of the sale, the insider now directly owns 6,219,900 shares of the company's stock, valued at approximately $3,758,436,774. This represents a 0.10% 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 over the last 90 days. Insiders own 2.68% of the company's stock.
Intuit Trading Up 8.1%
Shares of NASDAQ INTU traded up $54.06 during trading hours on Monday, reaching $720.13. The stock had a trading volume of 5,325,389 shares, compared to its average volume of 1,619,458. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $734.18. The firm has a market cap of $201.32 billion, a price-to-earnings ratio of 69.92, a P/E/G ratio of 2.85 and a beta of 1.24. The business's fifty day moving average price is $616.76 and its two-hundred day moving average price is $620.65. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31.
Intuit (NASDAQ:INTU - Get Free Report) last issued 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 company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm's revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter last year, the company earned $9.88 earnings per share. Analysts expect that Intuit Inc. will post 14.09 EPS for the current fiscal year.
About Intuit
(
Free Report)
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.
Featured Articles
Before you consider Intuit, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Intuit wasn't on the list.
While Intuit currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
