Parr Mcknight Wealth Management Group LLC Takes $2.33 Million Position in Intuit Inc. (NASDAQ:INTU)

Parr Mcknight Wealth Management Group LLC purchased a new stake in Intuit Inc. (NASDAQ:INTU - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 3,707 shares of the software maker's stock, valued at approximately $2,330,000.

A number of other hedge funds also recently bought and sold shares of INTU. Pacific Point Advisors LLC purchased a new position in shares of Intuit in the 4th quarter valued at approximately $3,142,000. GTS Securities LLC grew its holdings in Intuit by 131.7% during the fourth quarter. GTS Securities LLC now owns 2,901 shares of the software maker's stock worth $1,823,000 after acquiring an additional 12,060 shares during the period. Breed s Hill Capital LLC increased its holdings in shares of Intuit by 41.5% during the 4th quarter. Breed s Hill Capital LLC now owns 828 shares of the software maker's stock valued at $521,000 after purchasing an additional 243 shares in the last quarter. Vise Technologies Inc. raised its position in shares of Intuit by 34.2% in the fourth quarter. Vise Technologies Inc. now owns 4,356 shares of the software maker's stock worth $2,738,000 after acquiring an additional 1,109 shares during the period. Finally, Connecticut Wealth Management LLC boosted its position in Intuit by 2.2% during the fourth quarter. Connecticut Wealth Management LLC now owns 1,195 shares of the software maker's stock worth $751,000 after purchasing an additional 26 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on INTU shares. Hsbc Global Res raised shares of Intuit from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 23rd. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $825.00 price target (up previously from $775.00) on shares of Intuit in a report on Friday, May 23rd. Piper Sandler reissued an "overweight" rating and set a $825.00 price objective (up previously from $785.00) on shares of Intuit in a research note on Friday, May 23rd. Mizuho upped their target price on Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a report on Monday, March 3rd. Finally, Citigroup reiterated a "buy" rating and set a $789.00 price target (up previously from $726.00) on shares of Intuit in a report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Intuit currently has an average rating of "Moderate Buy" and an average target price of $785.33.

Insider Activity

In related news, Director Eve B. Burton sold 1,702 shares of the stock in a transaction dated Thursday, March 20th. The stock was 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 of the company's stock, valued at approximately $4,800. This represents a 99.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Laura A. Fennell sold 8,163 shares of Intuit stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 21,882 shares of the company's stock, valued at approximately $13,401,849.72. This represents a 27.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,696 shares of company stock valued at $14,347,731. 2.68% of the stock is currently owned by corporate insiders.

Intuit Trading Up 0.4%

Shares of Intuit stock traded up $2.99 on Wednesday, reaching $754.95. The company had a trading volume of 1,220,651 shares, compared to its average volume of 1,628,089. The firm's 50 day moving average price is $622.13 and its two-hundred day moving average price is $621.81. 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 52-week low of $532.65 and a 52-week high of $758.42. The firm has a market cap of $211.06 billion, a PE ratio of 73.35, a PEG ratio of 2.85 and a beta of 1.24.

Intuit (NASDAQ:INTU - Get Free Report) last posted its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, beating the consensus estimate of $10.89 by $0.76. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm 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 firm earned $9.88 EPS. The firm's revenue for the quarter was up 15.1% on a year-over-year basis. Sell-side analysts predict that Intuit Inc. will post 14.09 earnings per share 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.