GenTrust LLC Makes New $438,000 Investment in Intuit Inc. (NASDAQ:INTU)

GenTrust LLC purchased a new stake in shares of Intuit Inc. (NASDAQ:INTU) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 706 shares of the software maker’s stock, valued at approximately $438,000.

Other hedge funds have also recently modified their holdings of the company. Fortitude Family Office LLC boosted its holdings in Intuit by 2.8% in the 2nd quarter. Fortitude Family Office LLC now owns 582 shares of the software maker’s stock valued at $382,000 after purchasing an additional 16 shares during the last quarter. WASHINGTON TRUST Co lifted its holdings in Intuit by 10.5% in the second quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker’s stock valued at $110,000 after acquiring an additional 16 shares during the last quarter. Gemmer Asset Management LLC grew its position in Intuit by 3.7% in the second quarter. Gemmer Asset Management LLC now owns 448 shares of the software maker’s stock worth $294,000 after acquiring an additional 16 shares during the period. PFG Investments LLC increased its stake in Intuit by 1.1% during the second quarter. PFG Investments LLC now owns 1,558 shares of the software maker’s stock worth $1,024,000 after acquiring an additional 17 shares during the last quarter. Finally, Plancorp LLC raised its position in Intuit by 2.0% in the second quarter. Plancorp LLC now owns 881 shares of the software maker’s stock valued at $579,000 after purchasing an additional 17 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Barclays decreased their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research report on Friday. Stifel Nicolaus lowered their price objective on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research report on Friday. StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a research report on Friday. BMO Capital Markets raised their price target on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Finally, Bank of America boosted their price objective on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $737.44.

Intuit Stock Down 5.7 %

Shares of NASDAQ INTU opened at $640.12 on Friday. The business has a 50-day moving average of $634.81 and a two-hundred day moving average of $631.27. The company has a market capitalization of $179.31 billion, a price-to-earnings ratio of 62.15, a price-to-earnings-growth ratio of 3.32 and a beta of 1.25. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Intuit had a return on equity of 18.28% and a net margin of 17.59%. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same period in the prior year, the company posted $1.14 earnings per share. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, analysts forecast that Intuit Inc. will post 14.05 earnings per share for the current fiscal year.

Insider Activity at Intuit

In other news, Director Eve B. Burton sold 2,988 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $649.87, for a total value of $1,941,811.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sandeep Aujla sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $617.28, for a total value of $2,469,120.00. Following the transaction, the chief financial officer now owns 452 shares in the company, valued at $279,010.56. This represents a 89.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,297 shares of company stock valued at $35,220,046 in the last ninety days. Insiders own 2.90% of the company’s stock.

Intuit Company 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.