53,642 Shares in Intuit Inc. (NASDAQ:INTU) Acquired by GF Fund Management CO. LTD.

GF Fund Management CO. LTD. acquired a new position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 53,642 shares of the software maker's stock, valued at approximately $33,714,000. Intuit accounts for approximately 0.7% of GF Fund Management CO. LTD.'s portfolio, making the stock its 25th biggest position.

A number of other large investors have also modified their holdings of the stock. University of Texas Texas AM Investment Management Co. increased its position in shares of Intuit by 1,602.6% during 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. Parr Mcknight Wealth Management Group LLC purchased a new stake in shares of Intuit during the fourth quarter worth $2,330,000. Pacific Point Advisors LLC purchased a new stake in shares of Intuit during the fourth quarter worth $3,142,000. GTS Securities LLC increased its position in shares of Intuit by 131.7% during the fourth quarter. GTS Securities LLC now owns 2,901 shares of the software maker's stock worth $1,823,000 after acquiring an additional 12,060 shares during the period. Finally, Breed s Hill Capital LLC increased its position in shares of Intuit by 41.5% during the fourth quarter. Breed s Hill Capital LLC now owns 828 shares of the software maker's stock worth $521,000 after acquiring an additional 243 shares during the period. Hedge funds and other institutional investors own 83.66% of the company's stock.

Intuit Stock Performance

Shares of NASDAQ INTU traded up $31.83 during midday trading on Tuesday, reaching $751.96. 4,078,722 shares of the company were exchanged, compared to its average volume of 1,629,300. 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 Inc. has a 1 year low of $532.65 and a 1 year high of $751.72. The stock has a fifty day simple moving average of $619.10 and a 200 day simple moving average of $620.90. The stock has a market cap of $210.22 billion, a P/E ratio of 73.01, a PEG ratio of 2.85 and a beta of 1.24.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on INTU shares. Bank of America increased their target price on Intuit from $730.00 to $875.00 and gave the company a "buy" rating in a report on Friday. Jefferies Financial Group set a $850.00 target price on Intuit and gave the company a "buy" rating in a report on Friday. BMO Capital Markets reissued an "outperform" rating and issued a $820.00 target price (up previously from $714.00) on shares of Intuit in a report on Friday. Wells Fargo & Company reissued an "overweight" rating and issued a $825.00 target price (up previously from $775.00) on shares of Intuit in a report on Friday. Finally, KeyCorp reissued an "overweight" rating and issued a $850.00 target price (up previously from $770.00) on shares of Intuit in a report on Friday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $785.33.

Insider Buying and Selling

In other news, insider Scott D. Cook sold 6,446 shares of the firm's stock in a transaction that occurred on 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 $3,758,436,774. This trade represents a 0.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Laura A. Fennell sold 8,163 shares of the company's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $612.46, for a total value of $4,999,510.98. Following the transaction, the executive vice president now directly owns 21,882 shares in the company, valued at $13,401,849.72. This represents a 27.17% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,696 shares of company stock valued at $14,347,731 over the last quarter. 2.68% of the stock is currently owned by insiders.

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.