Jefferies Financial Group Inc. Cuts Position in Intuit Inc. (NASDAQ:INTU)

Jefferies Financial Group Inc. lowered its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 68.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,913 shares of the software maker's stock after selling 31,747 shares during the quarter. Jefferies Financial Group Inc.'s holdings in Intuit were worth $9,373,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in Intuit during the fourth quarter worth about $2,290,419,000. Proficio Capital Partners LLC raised its holdings in Intuit by 112,233.1% in the 4th quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker's stock valued at $668,595,000 after acquiring an additional 1,062,847 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Intuit by 33.5% in the 4th 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. Wellington Management Group LLP boosted its holdings in shares of Intuit by 13.3% during the 4th 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 during the last quarter. Finally, Unisphere Establishment grew its position in shares of Intuit by 50.0% in the fourth quarter. Unisphere Establishment now owns 1,500,000 shares of the software maker's stock valued at $942,750,000 after purchasing an additional 500,000 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company's stock.

Intuit Trading Up 0.3%

Intuit stock traded up $2.49 during trading on Wednesday, hitting $754.45. The company had a trading volume of 2,501,896 shares, compared to its average volume of 1,628,758. The stock has a market cap of $210.92 billion, a price-to-earnings ratio of 73.25, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. 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 $758.77. The company's 50 day simple moving average is $625.14 and its 200-day simple moving average is $622.73.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, beating analysts' consensus estimates of $10.89 by $0.76. The business had revenue of $7.75 billion during 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 was up 15.1% on a year-over-year basis. During the same period in the previous year, the firm posted $9.88 earnings per share. As a group, analysts expect that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Insider Activity at Intuit

In other Intuit news, Director Eve B. Burton sold 1,702 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 8 shares in the company, valued at $4,800. This represents a 99.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Laura A. Fennell sold 8,163 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the completion of the transaction, the executive vice president now directly owns 21,882 shares of the company's stock, 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 sold 23,696 shares of company stock worth $14,347,731 in the last three months. 2.68% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently commented on INTU. Wells Fargo & Company reiterated an "overweight" rating and set a $825.00 price objective (up previously from $775.00) on shares of Intuit in a research report on Friday, May 23rd. Evercore ISI raised their target price on Intuit from $685.00 to $785.00 and gave the stock an "outperform" rating in a research note on Friday, May 23rd. Morgan Stanley reiterated an "overweight" rating and set a $785.00 price target (up previously from $720.00) on shares of Intuit in a report on Friday, May 23rd. Wall Street Zen raised shares of Intuit from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Finally, Hsbc Global Res raised shares of Intuit from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $785.33.

Intuit Company 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.