Handelsbanken Fonder AB Acquires 29,010 Shares of Intuit Inc. (NASDAQ:INTU)

Handelsbanken Fonder AB increased its stake in shares of Intuit Inc. (NASDAQ:INTU) by 9.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 332,941 shares of the software maker’s stock after acquiring an additional 29,010 shares during the quarter. Intuit comprises approximately 0.8% of Handelsbanken Fonder AB’s holdings, making the stock its 17th largest holding. Handelsbanken Fonder AB’s holdings in Intuit were worth $209,253,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. R Squared Ltd bought a new position in shares of Intuit during the 4th quarter worth about $25,000. Northwest Investment Counselors LLC acquired a new stake in Intuit during the third quarter worth about $27,000. Heck Capital Advisors LLC bought a new position in Intuit during the fourth quarter valued at about $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Intuit in the 4th quarter valued at approximately $28,000. Finally, Sugar Maple Asset Management LLC bought a new stake in shares of Intuit in the 4th quarter worth approximately $29,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Trading Up 0.4 %

INTU opened at $582.19 on Thursday. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78. The firm has a 50-day moving average price of $615.92 and a two-hundred day moving average price of $628.85. The stock has a market capitalization of $162.97 billion, a PE ratio of 56.52, a PEG ratio of 2.89 and a beta of 1.24. 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) last issued its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. Intuit’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.14 earnings per share. As a group, equities analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on INTU shares. JPMorgan Chase & Co. boosted their price objective on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Morgan Stanley boosted their price target on shares of Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Stifel Nicolaus lowered their target price on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Finally, Barclays cut their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $726.53.

Insider Activity

In other Intuit news, CAO Lauren D. Hotz sold 1,078 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the completion of the sale, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. The trade was a 36.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the completion of the transaction, the insider now directly owns 6,378,105 shares in the company, valued at $4,093,595,351.10. This trade represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 293,014 shares of company stock valued at $188,992,187. 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.