Intuit Inc. (NASDAQ:INTU) Stock Holdings Lessened by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC cut its stake in shares of Intuit Inc. (NASDAQ:INTU) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,738 shares of the software maker’s stock after selling 24 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Intuit were worth $1,093,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of INTU. Brown Financial Advisors lifted its stake in Intuit by 0.9% during the third quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock worth $1,018,000 after purchasing an additional 15 shares during the period. Truvestments Capital LLC grew its stake in shares of Intuit by 1.5% in the 3rd quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock valued at $669,000 after purchasing an additional 16 shares during the period. Mount Yale Investment Advisors LLC raised its holdings in shares of Intuit by 1.8% in the 3rd quarter. Mount Yale Investment Advisors LLC now owns 973 shares of the software maker’s stock worth $604,000 after buying an additional 17 shares in the last quarter. Freedom Day Solutions LLC lifted its position in shares of Intuit by 0.4% during the 3rd quarter. Freedom Day Solutions LLC now owns 4,186 shares of the software maker’s stock worth $2,599,000 after buying an additional 17 shares during the period. Finally, Covenant Partners LLC boosted its stake in Intuit by 3.4% in the 3rd quarter. Covenant Partners LLC now owns 521 shares of the software maker’s stock valued at $324,000 after buying an additional 17 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

INTU has been the subject of several recent analyst reports. Oppenheimer increased their price objective on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research note 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. 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 report on Friday, November 22nd. BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective on the stock. in a research note on Wednesday, January 15th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and a consensus price target of $726.53.

Intuit Trading Down 2.4 %

Shares of INTU opened at $565.47 on Friday. The stock’s fifty day simple moving average is $612.23 and its 200-day simple moving average is $628.24. The firm has a market capitalization of $158.29 billion, a PE ratio of 54.90, a price-to-earnings-growth ratio of 2.87 and a beta of 1.24. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.14. The firm had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.14 EPS. As a group, research analysts predict that Intuit Inc. will post 14.09 earnings per share for the current year.

Insider Transactions at Intuit

In related news, EVP Alex G. Balazs sold 23,810 shares of Intuit stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the completion of the sale, the executive vice president now directly owns 489 shares of the company’s stock, valued at $325,664.22. The trade was a 97.99 % 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, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $641.82, for a total value of $48,136,500.00. Following the completion of the sale, the insider now owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. This represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 293,014 shares of company stock worth $188,992,187 in the last quarter. 2.68% of the stock is owned by company insiders.

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.