Banco Santander S.A. Sells 5,286 Shares of Intuit Inc. (NASDAQ:INTU)

Banco Santander S.A. reduced its position in Intuit Inc. (NASDAQ:INTU) by 57.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,940 shares of the software maker’s stock after selling 5,286 shares during the period. Banco Santander S.A.’s holdings in Intuit were worth $2,447,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA grew its stake in shares of Intuit by 10.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,014,972 shares of the software maker’s stock worth $630,298,000 after acquiring an additional 98,406 shares during the last quarter. Integrated Investment Consultants LLC boosted its stake in Intuit by 15.5% in the 3rd quarter. Integrated Investment Consultants LLC now owns 1,066 shares of the software maker’s stock worth $662,000 after purchasing an additional 143 shares in the last quarter. LPL Financial LLC grew its position in Intuit by 6.5% during the 3rd quarter. LPL Financial LLC now owns 195,175 shares of the software maker’s stock worth $121,203,000 after purchasing an additional 11,927 shares during the last quarter. Landscape Capital Management L.L.C. acquired a new position in Intuit during the 3rd quarter valued at approximately $4,069,000. Finally, Citizens Financial Group Inc. RI raised its holdings in shares of Intuit by 4.7% in the third quarter. Citizens Financial Group Inc. RI now owns 13,423 shares of the software maker’s stock worth $8,336,000 after buying an additional 608 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Intuit Trading Up 4.4 %

Shares of Intuit stock opened at $679.40 on Friday. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78. The stock has a market cap of $190.31 billion, a price-to-earnings ratio of 65.01, a PEG ratio of 3.15 and a beta of 1.25. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The company has a fifty day simple moving average of $635.12 and a 200-day simple moving average of $631.23.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping the consensus estimate of $2.36 by $0.14. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.14 earnings per share. On average, equities analysts forecast that Intuit Inc. will post 14.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on INTU. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a report on Monday, September 30th. Piper Sandler reiterated an “overweight” rating and issued a $768.00 price target on shares of Intuit in a report on Friday, September 27th. JPMorgan Chase & Co. lifted their price objective on shares of Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Barclays increased their price objective on shares of Intuit from $740.00 to $800.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Stifel Nicolaus boosted their target price on shares of Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $737.06.

Insider Activity at Intuit

In related news, CFO Sandeep Aujla sold 862 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total value of $535,327.86. Following the completion of the sale, the chief financial officer now owns 3,840 shares in the company, valued at $2,384,755.20. This trade represents a 18.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kerry J. Mclean sold 11,079 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the transaction, the executive vice president now owns 24,941 shares in the company, valued at $15,752,985.01. The trade was a 30.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,297 shares of company stock worth $35,220,046 in the last quarter. Company insiders own 2.90% 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.