Partners Capital Investment Group LLP Takes $4.53 Million Position in Intuit Inc. $INTU

Key Points

• Partners Capital Investment Group LLP has acquired a new position in Intuit Inc., purchasing 7,379 shares valued at approximately $4.53 million.
• Intuit's quarterly earnings surpassed expectations, reporting $11.65 EPS compared to the consensus estimate of $10.89, with a year-over-year revenue increase of 15.1%.
• Several analysts have raised their price targets for Intuit, with Citigroup setting a new target of $815 and Evercore ISI increasing its target to $785, reflecting strong sentiment towards the stock.

Partners Capital Investment Group LLP acquired a new position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 7,379 shares of the software maker's stock, valued at approximately $4,531,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. grew its position in Intuit by 1.2% during the 1st quarter. Invesco Ltd. now owns 3,078,686 shares of the software maker's stock worth $1,890,282,000 after acquiring an additional 36,513 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Intuit by 4.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,841,590 shares of the software maker's stock worth $1,130,718,000 after buying an additional 82,419 shares during the period. Pinnacle Financial Partners Inc grew its holdings in Intuit by 3.6% during the 1st quarter. Pinnacle Financial Partners Inc now owns 17,789 shares of the software maker's stock worth $10,922,000 after acquiring an additional 623 shares during the period. Capitolis Liquid Global Markets LLC acquired a new stake in Intuit during the fourth quarter worth approximately $109,988,000. Finally, Malaga Cove Capital LLC grew its position in shares of Intuit by 110.6% during the 1st quarter. Malaga Cove Capital LLC now owns 874 shares of the software maker's stock worth $537,000 after buying an additional 459 shares during the period. Institutional investors and hedge funds own 83.66% of the company's stock.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $699.15 on Thursday. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29. The stock has a market cap of $195.03 billion, a PE ratio of 56.75, a PEG ratio of 2.70 and a beta of 1.28. The company's fifty day moving average is $760.28 and its 200 day moving average is $673.19. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $813.70.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, topping the consensus estimate of $10.89 by $0.76. Intuit had a return on equity of 21.46% and a net margin of 19.07%.The firm had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the previous year, the business earned $9.88 earnings per share. The company's quarterly revenue was up 15.1% on a year-over-year basis. Research analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Evercore ISI boosted their target price on Intuit from $685.00 to $785.00 and gave the company an "outperform" rating in a research report on Friday, May 23rd. Citigroup boosted their price target on shares of Intuit from $789.00 to $815.00 and gave the stock a "buy" rating in a report on Friday, August 15th. HSBC upgraded Intuit from a "hold" rating to a "buy" rating and set a $699.00 price objective for the company in a research note on Wednesday, April 23rd. Hsbc Global Res upgraded shares of Intuit from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. Finally, KeyCorp reaffirmed an "overweight" rating and set a $850.00 price objective (up from $770.00) on shares of Intuit in a report on Friday, May 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $809.86.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Laura A. Fennell sold 25,648 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $752.25, for a total value of $19,293,708.00. Following the completion of the sale, the executive vice president owned 22,796 shares in the company, valued at approximately $17,148,291. The trade was a 52.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Sandeep Aujla sold 16,061 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $726.13, for a total value of $11,662,373.93. Following the sale, the chief financial officer directly owned 197 shares of the company's stock, valued at approximately $143,047.61. This trade represents a 98.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold 279,800 shares of company stock worth $209,725,054 over the last quarter. Company insiders own 2.68% of the company's stock.

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.

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