Intuit Inc. (NASDAQ:INTU) Shares Acquired by Focus Partners Advisor Solutions LLC

Focus Partners Advisor Solutions LLC lifted its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 46.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,511 shares of the software maker's stock after buying an additional 798 shares during the period. Focus Partners Advisor Solutions LLC's holdings in Intuit were worth $1,579,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in INTU. Kolinsky Wealth Management LLC raised its holdings in Intuit by 1.6% during the fourth quarter. Kolinsky Wealth Management LLC now owns 1,192 shares of the software maker's stock worth $749,000 after purchasing an additional 19 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Intuit by 33.5% during 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 worth $1,930,765,000 after purchasing an additional 771,232 shares in the last quarter. Unio Capital LLC raised its holdings in Intuit by 101.7% during the fourth quarter. Unio Capital LLC now owns 28,637 shares of the software maker's stock worth $17,998,000 after purchasing an additional 14,436 shares in the last quarter. Waverly Advisors LLC raised its holdings in Intuit by 56.6% during the fourth quarter. Waverly Advisors LLC now owns 8,988 shares of the software maker's stock worth $5,649,000 after purchasing an additional 3,249 shares in the last quarter. Finally, Wellington Wealth Strategies LLC. bought a new stake in Intuit during the fourth quarter worth approximately $1,655,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $666.07 on Friday. The company's fifty day moving average is $614.34 and its two-hundred day moving average is $620.51. 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 Inc. has a 12-month low of $532.65 and a 12-month high of $720.76. The company has a market cap of $186.21 billion, a P/E ratio of 64.67, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24.

Intuit (NASDAQ:INTU - Get Free Report) last announced its earnings results 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 for the quarter, compared to the consensus estimate of $7.56 billion. During the same period in the previous year, the business earned $9.88 EPS. The company's revenue was up 15.1% on a year-over-year basis. Equities analysts expect that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Intuit

In other news, insider Scott D. Cook sold 6,446 shares of the business's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the transaction, the insider now directly owns 6,219,900 shares in the company, valued at $3,758,436,774. The trade was a 0.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Eve B. Burton sold 1,702 shares of the business's 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. This represents a 99.53% decrease in their ownership of the stock. 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 in the last three months. 2.68% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Scotiabank raised Intuit from a "sector perform" rating to a "sector outperform" rating and boosted their target price for the stock from $600.00 to $700.00 in a report on Thursday, April 17th. Piper Sandler reissued an "overweight" rating and set a $785.00 target price (up previously from $765.00) on shares of Intuit in a report on Wednesday, February 26th. Wall Street Zen raised Intuit from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. JPMorgan Chase & Co. raised Intuit from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $640.00 to $660.00 in a report on Wednesday, March 5th. Finally, Redburn Atlantic assumed coverage on Intuit in a report on Wednesday, February 19th. They set a "neutral" rating on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $717.24.

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.

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