Waverly Advisors LLC Buys 3,249 Shares of Intuit Inc. (NASDAQ:INTU)

Waverly Advisors LLC lifted its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 56.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,988 shares of the software maker's stock after buying an additional 3,249 shares during the quarter. Waverly Advisors LLC's holdings in Intuit were worth $5,649,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of INTU. Whalen Wealth Management Inc. bought a new position in shares of Intuit in the fourth quarter worth about $621,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Intuit by 2.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker's stock valued at $107,854,000 after acquiring an additional 3,648 shares during the period. Beacon Investment Advisory Services Inc. grew its stake in shares of Intuit by 3.8% in the fourth quarter. Beacon Investment Advisory Services Inc. now owns 43,313 shares of the software maker's stock worth $27,223,000 after acquiring an additional 1,602 shares during the last quarter. Capitolis Liquid Global Markets LLC bought a new position in Intuit during the fourth quarter worth $109,988,000. Finally, Hantz Financial Services Inc. raised its stake in Intuit by 10.2% during the 4th quarter. Hantz Financial Services Inc. now owns 22,126 shares of the software maker's stock valued at $13,906,000 after purchasing an additional 2,055 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. BMO Capital Markets upped their price objective on shares of Intuit from $714.00 to $820.00 and gave the company an "outperform" rating in a research report on Friday. KeyCorp upped their price target on Intuit from $770.00 to $850.00 and gave the company an "overweight" rating in a report on Friday. Redburn Atlantic assumed coverage on Intuit in a research report on Wednesday, February 19th. They issued a "neutral" rating for the company. Jefferies Financial Group upped their price objective on Intuit from $735.00 to $850.00 and gave the company a "buy" rating in a research note on Friday. Finally, Evercore ISI lifted their price target on shares of Intuit from $685.00 to $785.00 and gave the company an "outperform" rating in a report on Friday. One investment 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 stock. Based on data from MarketBeat.com, Intuit presently has an average rating of "Moderate Buy" and an average price target of $785.33.

Insider Activity at Intuit

In other Intuit news, EVP Laura A. Fennell sold 8,163 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 21,882 shares in the company, valued at $13,401,849.72. This represents a 27.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Eve B. Burton sold 1,702 shares of the firm's stock in a transaction on 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 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,696 shares of company stock worth $14,347,731. 2.68% of the stock is owned by corporate insiders.

Intuit Stock Up 8.1%

Shares of INTU stock traded up $54.06 on Friday, hitting $720.13. The stock had a trading volume of 5,325,389 shares, compared to its average volume of 1,629,990. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $734.18. The stock has a market cap of $201.32 billion, a price-to-earnings ratio of 69.92, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. The business has a 50 day moving average of $616.76 and a 200 day moving average of $621.21. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, beating the consensus estimate of $10.89 by $0.76. The business had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. Intuit's revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $9.88 earnings per share. As a group, analysts expect that Intuit Inc. will post 14.09 EPS for the current year.

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.