Principal Street Partners LLC Has $304,000 Stake in Intuit Inc. (NASDAQ:INTU)

Principal Street Partners LLC cut its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 46.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 484 shares of the software maker's stock after selling 416 shares during the period. Principal Street Partners LLC's holdings in Intuit were worth $304,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. R Squared Ltd purchased a new stake in shares of Intuit during the fourth quarter worth approximately $25,000. NewSquare Capital LLC boosted its stake in Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after purchasing an additional 18 shares during the last quarter. Heck Capital Advisors LLC purchased a new stake in shares of Intuit during the fourth quarter worth $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Intuit during the fourth quarter worth $28,000. Finally, Summit Securities Group LLC acquired a new stake in shares of Intuit in the fourth quarter valued at about $28,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Price Performance

NASDAQ INTU traded up $54.06 on Monday, reaching $720.13. The company's stock had a trading volume of 5,325,389 shares, compared to its average volume of 1,619,458. The stock has a market cap of $201.32 billion, a PE ratio of 69.92, a PEG ratio of 2.85 and a beta of 1.24. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $734.18. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The firm's 50 day moving average is $616.76 and its two-hundred day moving average is $620.65.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly 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. The company 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 firm's revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $9.88 earnings per share. As a group, sell-side analysts predict that Intuit Inc. will post 14.09 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Scotiabank upgraded shares of Intuit from a "sector perform" rating to a "sector outperform" rating and raised their price objective for the stock from $600.00 to $700.00 in a research report on Thursday, April 17th. Wells Fargo & Company restated an "overweight" rating and set a $825.00 price target (up previously from $775.00) on shares of Intuit in a report on Friday. Barclays reaffirmed an "overweight" rating and set a $815.00 price target (up previously from $775.00) on shares of Intuit in a research report on Friday. Citigroup reiterated a "buy" rating and issued a $789.00 price objective (up from $726.00) on shares of Intuit in a research report on Friday. Finally, Wall Street Zen upgraded Intuit from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $785.33.

Insider Activity at Intuit

In related news, EVP Marianna Tessel sold 7,385 shares of the firm's stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $600.13, for a total value of $4,431,960.05. Following the completion of the transaction, the executive vice president now owns 40,190 shares of the company's stock, valued at approximately $24,119,224.70. This trade represents a 15.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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 shares were 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. The trade was a 27.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,696 shares of company stock worth $14,347,731 in the last quarter. 2.68% of the stock is owned by company 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.