Two Sigma Advisers LP Purchases 38,800 Shares of Intuit Inc. (NASDAQ:INTU)

Two Sigma Advisers LP increased its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 21.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 220,600 shares of the software maker's stock after purchasing an additional 38,800 shares during the quarter. Two Sigma Advisers LP owned 0.08% of Intuit worth $138,647,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in Intuit during the fourth quarter valued at $2,290,419,000. Proficio Capital Partners LLC increased its position in Intuit by 112,233.1% during the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker's stock valued at $668,595,000 after acquiring an additional 1,062,847 shares during the last quarter. Wellington Management Group LLP increased its position in Intuit by 13.3% during the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock valued at $3,329,115,000 after acquiring an additional 620,559 shares during the last quarter. Unisphere Establishment increased its position in Intuit by 50.0% during the fourth quarter. Unisphere Establishment now owns 1,500,000 shares of the software maker's stock valued at $942,750,000 after acquiring an additional 500,000 shares during the last quarter. Finally, Northern Trust Corp increased its position in Intuit by 17.3% during the fourth quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker's stock valued at $2,118,682,000 after acquiring an additional 498,030 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Intuit Trading Up 0.9%

Shares of NASDAQ INTU traded up $6.09 during midday trading on Thursday, hitting $666.07. The company's stock had a trading volume of 2,212,097 shares, compared to its average volume of 1,616,224. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The business's 50 day moving average is $613.06 and its two-hundred day moving average is $620.19. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $727.83. The firm has a market cap of $186.21 billion, a P/E ratio of 64.67, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24.

Intuit (NASDAQ:INTU - Get Free Report) last issued 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%. During the same period in the prior year, the business earned $9.88 EPS. The business's revenue for the quarter was up 15.1% on a year-over-year basis. As a group, equities research analysts expect that Intuit Inc. will post 14.09 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on INTU. HSBC upgraded Intuit from a "hold" rating to a "buy" rating and set a $699.00 price objective for the company in a research report on Wednesday, April 23rd. Morgan Stanley decreased their price objective on shares of Intuit from $730.00 to $720.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Jefferies Financial Group dropped their price objective on Intuit from $800.00 to $735.00 and set a "buy" rating for the company in a research note on Monday, March 31st. JPMorgan Chase & Co. raised Intuit from a "neutral" rating to an "overweight" rating and increased their price target for the company from $640.00 to $660.00 in a research note on Wednesday, March 5th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $785.00 price objective (up from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $717.24.

Insiders Place Their Bets

In other Intuit news, insider Scott D. Cook sold 6,446 shares of the firm's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the transaction, the insider now directly owns 6,219,900 shares in the company, valued at $3,758,436,774. This trade represents a 0.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Eve B. Burton sold 1,702 shares of the firm's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value 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 disclosure for this sale can be found here. Insiders have sold 23,696 shares of company stock worth $14,347,731 in the last ninety days. 2.68% of the stock is owned by company insiders.

Intuit 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.