Putney Financial Group LLC acquired a new position in Intuit Inc. (NASDAQ:INTU - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 417 shares of the software maker's stock, valued at approximately $262,000.
A number of other institutional investors have also recently made changes to their positions in INTU. R Squared Ltd purchased a new position in shares of Intuit in the 4th quarter valued at about $25,000. NewSquare Capital LLC increased its stake in shares of Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock valued at $27,000 after purchasing an additional 18 shares in the last quarter. Summit Securities Group LLC purchased a new stake in Intuit during the 4th quarter worth approximately $28,000. Heck Capital Advisors LLC purchased a new stake in Intuit during the 4th quarter worth approximately $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Intuit during the 4th quarter worth approximately $28,000. Institutional investors and hedge funds own 83.66% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on the company. Redburn Atlantic assumed coverage on Intuit in a research report on Wednesday, February 19th. They set a "neutral" rating on the stock. Jefferies Financial Group set a $850.00 target price on shares of Intuit and gave the stock a "buy" rating in a research note on Friday, May 23rd. Oppenheimer restated an "outperform" rating and issued a $742.00 price objective (up previously from $642.00) on shares of Intuit in a research report on Friday, May 23rd. JPMorgan Chase & Co. raised their price objective on shares of Intuit from $660.00 to $770.00 and gave the company an "overweight" rating in a research report on Friday, May 23rd. Finally, Piper Sandler reissued an "overweight" rating and set a $825.00 price objective (up from $785.00) on shares of Intuit in a research note on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued 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.
Read Our Latest Stock Analysis on INTU
Intuit Stock Performance
Shares of INTU traded up $2.49 during mid-day trading on Wednesday, reaching $754.45. The company's stock had a trading volume of 2,501,896 shares, compared to its average volume of 1,628,758. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $774.78. The stock has a market cap of $210.92 billion, a P/E ratio of 73.25, a PEG ratio of 2.85 and a beta of 1.24. The business has a 50-day simple moving average of $622.13 and a two-hundred day simple moving average of $621.81. 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 (NASDAQ:INTU - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping the consensus estimate of $10.89 by $0.76. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.56 billion. During the same period last year, the firm posted $9.88 EPS. The firm's revenue for the quarter was up 15.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Intuit news, Director Eve B. Burton sold 1,702 shares of Intuit 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 directly owns 8 shares of the company's stock, valued at approximately $4,800. The trade was a 99.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Scott D. Cook sold 6,446 shares of the company's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $604.26, for a total value of $3,895,059.96. Following the transaction, the insider now directly owns 6,219,900 shares in the company, valued at approximately $3,758,436,774. This trade represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,696 shares of company stock worth $14,347,731 in the last 90 days. Insiders own 2.68% of the company's stock.
About Intuit
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Free Report)
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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