Vident Advisory LLC Has $24.15 Million Holdings in Intuit Inc. (NASDAQ:INTU)

Vident Advisory LLC grew its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 548.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,430 shares of the software maker's stock after acquiring an additional 32,500 shares during the period. Vident Advisory LLC's holdings in Intuit were worth $24,153,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank bought a new stake in Intuit in the fourth quarter worth $2,290,419,000. Proficio Capital Partners LLC boosted 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 worth $668,595,000 after purchasing an additional 1,062,847 shares in the last quarter. Wellington Management Group LLP boosted 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 worth $3,329,115,000 after purchasing an additional 620,559 shares in the last quarter. Unisphere Establishment boosted 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 worth $942,750,000 after purchasing an additional 500,000 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in Intuit by 17.3% in the fourth quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker's stock worth $2,118,682,000 after purchasing an additional 498,030 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

INTU has been the subject of a number of recent analyst reports. Scotiabank upgraded shares of Intuit from a "sector perform" rating to a "sector outperform" rating and upped their price target for the company from $600.00 to $700.00 in a report on Thursday, April 17th. Wall Street Zen upgraded shares of Intuit from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. UBS Group upped their price target on shares of Intuit from $655.00 to $720.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Piper Sandler restated an "overweight" rating and set a $785.00 price target (up from $765.00) on shares of Intuit in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. upgraded shares of Intuit from a "neutral" rating to an "overweight" rating and upped their price target for the company from $640.00 to $660.00 in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $717.24.

Intuit Trading Up 0.9%

INTU traded up $6.09 during trading on Thursday, reaching $666.07. 2,212,097 shares of the company's stock were exchanged, compared to its average volume of 1,616,224. The company's fifty day moving average price is $613.06 and its 200-day moving average price is $620.19. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $727.83. The firm has a market capitalization of $186.21 billion, a PE ratio of 64.67, a P/E/G ratio of 2.85 and a beta of 1.24.

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

Insider Activity

In other news, 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 value of $1,021,200.00. Following the completion of the transaction, the director now owns 8 shares of the company's stock, valued at $4,800. The trade was a 99.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Scott D. Cook sold 6,446 shares of the company's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the completion of the transaction, the insider now directly owns 6,219,900 shares of the company's stock, valued at approximately $3,758,436,774. The trade was a 0.10% decrease in their ownership of the stock. 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 quarter. Company insiders own 2.68% of the company's stock.

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.