Parr Mcknight Wealth Management Group LLC Buys New Shares in Intuit Inc. (NASDAQ:INTU)

Parr Mcknight Wealth Management Group LLC acquired a new stake in Intuit Inc. (NASDAQ:INTU - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 3,707 shares of the software maker's stock, valued at approximately $2,330,000.

Other institutional investors have also modified their holdings of the company. R Squared Ltd acquired a new position in shares of Intuit during the 4th quarter worth about $25,000. NewSquare Capital LLC lifted its stake in Intuit by 72.0% during the fourth 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 acquired a new position in Intuit in the fourth quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Intuit in the fourth quarter valued at approximately $28,000. Finally, Summit Securities Group LLC acquired a new stake in Intuit during the fourth quarter worth approximately $28,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Intuit news, EVP Laura A. Fennell sold 8,163 shares of the firm's stock in a transaction dated 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 in the company, valued at approximately $13,401,849.72. This trade represents a 27.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Eve B. Burton sold 1,702 shares of the company's stock in a transaction dated 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 completion of the sale, the director now directly owns 8 shares in the company, valued at $4,800. This trade represents a 99.53% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,696 shares of company stock worth $14,347,731. 2.68% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. increased their target price on shares of Intuit from $660.00 to $770.00 and gave the company an "overweight" rating in a research report on Friday. Susquehanna restated a "positive" rating on shares of Intuit in a research note on Friday. Wall Street Zen upgraded Intuit from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Wells Fargo & Company reissued an "overweight" rating and issued a $825.00 target price (up from $775.00) on shares of Intuit in a research report on Friday. Finally, Redburn Atlantic started coverage on shares of Intuit in a report on Wednesday, February 19th. They issued a "neutral" rating on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Intuit has a consensus rating of "Moderate Buy" and an average target price of $785.33.

Intuit Price Performance

Shares of INTU traded up $54.06 during mid-day trading on Monday, hitting $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 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 $734.18. The firm has a market capitalization of $201.32 billion, a P/E ratio of 69.92, a P/E/G ratio of 2.85 and a beta of 1.24. The firm has a 50-day simple moving average of $616.76 and a 200 day simple moving average of $620.65.

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, beating analysts' consensus estimates of $10.89 by $0.76. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter last year, the company earned $9.88 earnings per share. Intuit's quarterly revenue was up 15.1% compared to the same quarter last year. Analysts predict that Intuit Inc. will post 14.09 EPS for the current fiscal year.

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.