Novem Group Makes New Investment in Intuit Inc. (NASDAQ:INTU)

Novem Group purchased a new position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 962 shares of the software maker's stock, valued at approximately $605,000.

A number of other hedge funds have also recently modified their holdings of the business. R Squared Ltd bought a new stake in Intuit during the fourth quarter valued at about $25,000. NewSquare Capital LLC lifted its position in shares of Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock valued at $27,000 after buying an additional 18 shares in the last quarter. Summit Securities Group LLC purchased a new position in shares of Intuit during the 4th quarter valued at about $28,000. Heck Capital Advisors LLC bought a new position in shares of Intuit during the 4th quarter valued at approximately $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Intuit in the 4th quarter worth approximately $28,000. Institutional investors own 83.66% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on INTU. Jefferies Financial Group lowered their price target on shares of Intuit from $800.00 to $735.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Piper Sandler restated an "overweight" rating and set a $785.00 target price (up previously from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. StockNews.com upgraded Intuit from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. HSBC raised Intuit from a "hold" rating to a "buy" rating and set a $699.00 price target on the stock in a report on Wednesday, April 23rd. Finally, Morgan Stanley dropped their price objective on Intuit from $730.00 to $720.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $717.24.

Insider Activity

In other Intuit 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 transaction of $1,021,200.00. Following the transaction, the director now owns 8 shares in the company, valued at $4,800. The trade was a 99.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Scott D. Cook sold 6,446 shares of the 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 completion of the sale, the insider now directly owns 6,219,900 shares in the company, valued at approximately $3,758,436,774. This represents a 0.10% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,696 shares of company stock worth $14,347,731. 2.68% of the stock is currently owned by corporate insiders.

Intuit Price Performance

Intuit stock opened at $659.98 on Thursday. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $714.78. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm's fifty day moving average is $613.06 and its 200 day moving average is $620.19. The company has a market cap of $184.51 billion, a price-to-earnings ratio of 64.08, a PEG ratio of 2.85 and a beta of 1.24.

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.

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