Intuit Inc. (NASDAQ:INTU) Stock Holdings Increased by Advisors Asset Management Inc.

Advisors Asset Management Inc. raised its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 3.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,034 shares of the software maker’s stock after buying an additional 648 shares during the period. Advisors Asset Management Inc.’s holdings in Intuit were worth $12,441,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Bessemer Group Inc. lifted its holdings in shares of Intuit by 14.2% during the first quarter. Bessemer Group Inc. now owns 19,676 shares of the software maker’s stock valued at $12,790,000 after purchasing an additional 2,450 shares during the last quarter. MQS Management LLC purchased a new stake in Intuit during the first quarter valued at about $294,000. EntryPoint Capital LLC acquired a new position in shares of Intuit in the first quarter worth about $60,000. Delap Wealth Advisory LLC purchased a new position in shares of Intuit in the first quarter worth approximately $252,000. Finally, Freestone Capital Holdings LLC raised its holdings in shares of Intuit by 220.5% during the first quarter. Freestone Capital Holdings LLC now owns 3,510 shares of the software maker’s stock valued at $2,282,000 after acquiring an additional 2,415 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on INTU shares. Scotiabank started coverage on shares of Intuit in a research note on Monday. They issued a “sector perform” rating and a $700.00 price objective for the company. Bank of America lifted their price target on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Susquehanna reissued a “positive” rating and issued a $757.00 price objective on shares of Intuit in a research note on Friday, August 16th. JPMorgan Chase & Co. lifted their target price on Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Finally, Jefferies Financial Group increased their price target on shares of Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $737.06.

Insider Buying and Selling

In other Intuit news, EVP Laura A. Fennell sold 30,159 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the completion of the transaction, the executive vice president now owns 52,038 shares of the company’s stock, valued at $33,427,129.68. The trade was a 36.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alex G. Balazs sold 2,941 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total value of $1,849,183.16. Following the transaction, the executive vice president now directly owns 20 shares of the company’s stock, valued at $12,575.20. This represents a 99.32 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 55,297 shares of company stock valued at $35,220,046. Company insiders own 2.90% of the company’s stock.

Intuit Trading Down 5.1 %

Intuit stock opened at $644.17 on Wednesday. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78. The company’s fifty day moving average price is $634.32 and its two-hundred day moving average price is $630.75. The company has a market capitalization of $180.55 billion, a price-to-earnings ratio of 61.64, a PEG ratio of 3.36 and a beta of 1.25. 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 issued its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. The business had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The firm’s revenue was up 17.4% compared to the same quarter last year. During the same period last year, the business earned $0.40 EPS. On average, analysts forecast that Intuit Inc. will post 14.05 earnings per share for the current fiscal year.

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.