Intuit Inc. (NASDAQ:INTU) Shares Sold by Gotham Asset Management LLC

Gotham Asset Management LLC reduced its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 66.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,263 shares of the software maker's stock after selling 2,536 shares during the period. Gotham Asset Management LLC's holdings in Intuit were worth $794,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of INTU. Avanza Fonder AB purchased a new stake in shares of Intuit in the fourth quarter valued at approximately $230,000. Merit Financial Group LLC grew its position in shares of Intuit by 53.9% in the fourth quarter. Merit Financial Group LLC now owns 3,999 shares of the software maker's stock valued at $2,513,000 after purchasing an additional 1,400 shares in the last quarter. Arkadios Wealth Advisors grew its position in shares of Intuit by 2.8% in the fourth quarter. Arkadios Wealth Advisors now owns 1,998 shares of the software maker's stock valued at $1,256,000 after purchasing an additional 55 shares in the last quarter. HB Wealth Management LLC grew its position in shares of Intuit by 4.8% in the fourth quarter. HB Wealth Management LLC now owns 6,550 shares of the software maker's stock valued at $4,117,000 after purchasing an additional 299 shares in the last quarter. Finally, Ameritas Advisory Services LLC grew its position in shares of Intuit by 187.0% in the fourth quarter. Ameritas Advisory Services LLC now owns 1,016 shares of the software maker's stock valued at $639,000 after purchasing an additional 662 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on INTU shares. Wall Street Zen upgraded Intuit from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Mizuho upped their price objective on Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a report on Monday, March 3rd. HSBC upgraded Intuit from a "hold" rating to a "buy" rating and set a $699.00 price objective on the stock in a report on Wednesday, April 23rd. Citigroup upped their price objective on Intuit from $726.00 to $789.00 and gave the company a "buy" rating in a report on Friday. Finally, Evercore ISI upped their price objective on Intuit from $685.00 to $785.00 and gave the company an "outperform" rating in a report on Friday. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $785.33.

Intuit Stock Up 8.1%

Shares of NASDAQ INTU traded up $54.06 during mid-day trading on Friday, hitting $720.13. The company had a trading volume of 5,325,389 shares, compared to its average volume of 1,619,458. The company has a market capitalization of $201.32 billion, a PE ratio of 69.92, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $734.18. The business's 50-day simple moving average is $616.76 and its 200 day simple moving average is $621.02.

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. The business had revenue of $7.75 billion for the quarter, compared to analysts' expectations of $7.56 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company's revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period last year, the firm earned $9.88 earnings per share. On average, analysts predict that Intuit Inc. will post 14.09 earnings per share for the current year.

Insider Activity

In related news, EVP Laura A. Fennell sold 8,163 shares of the 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 owns 21,882 shares of the company's stock, valued at $13,401,849.72. This represents a 27.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Eve B. Burton sold 1,702 shares of the stock in a transaction on 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 completion of the transaction, the director now directly owns 8 shares in the company, valued at $4,800. This trade represents a 99.53% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,696 shares of company stock worth $14,347,731. Corporate insiders own 2.68% of the company's stock.

Intuit 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.