Alberta Investment Management Corp Makes New $10.76 Million Investment in Intuit Inc. (NASDAQ:INTU)

Alberta Investment Management Corp acquired a new stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 17,115 shares of the software maker's stock, valued at approximately $10,757,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of INTU. Lyell Wealth Management LP raised its holdings in shares of Intuit by 1.6% in the fourth quarter. Lyell Wealth Management LP now owns 31,234 shares of the software maker's stock worth $19,631,000 after buying an additional 501 shares during the last quarter. Global Retirement Partners LLC grew its position in Intuit by 2.7% during the fourth quarter. Global Retirement Partners LLC now owns 1,848 shares of the software maker's stock valued at $1,161,000 after buying an additional 48 shares during the period. Davidson Investment Advisors grew its position in Intuit by 1.3% during the fourth quarter. Davidson Investment Advisors now owns 41,940 shares of the software maker's stock valued at $26,359,000 after buying an additional 553 shares during the period. Kentucky Retirement Systems Insurance Trust Fund increased its stake in shares of Intuit by 21.9% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 10,087 shares of the software maker's stock worth $6,340,000 after purchasing an additional 1,810 shares in the last quarter. Finally, Kestra Investment Management LLC grew its stake in Intuit by 31.1% during the 4th quarter. Kestra Investment Management LLC now owns 497 shares of the software maker's stock valued at $312,000 after acquiring an additional 118 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Intuit

In other news, EVP Alex G. Balazs sold 23,810 shares of the firm's stock in a transaction dated 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. This trade represents a 97.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of the firm's stock in a transaction that occurred on 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 transaction, the insider now directly owns 6,378,105 shares in the company, valued at $4,093,595,351.10. The trade was a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 293,014 shares of company stock valued at $188,992,187. 2.68% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on INTU shares. Jefferies Financial Group boosted their target price on shares of Intuit from $790.00 to $800.00 and gave the company a "buy" rating in a report on Friday, November 22nd. BNP Paribas lowered shares of Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 target price on the stock. in a report on Wednesday, January 15th. Stifel Nicolaus dropped their price objective on shares of Intuit from $795.00 to $725.00 and set a "buy" rating on the stock in a research report on Friday, November 22nd. JPMorgan Chase & Co. increased their price objective on shares of Intuit from $600.00 to $640.00 and gave the company a "neutral" rating in a research report on Friday, November 22nd. Finally, Scotiabank initiated coverage on shares of Intuit in a research report on Monday, November 18th. They issued a "sector perform" rating and a $700.00 target price on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $726.53.

Intuit Price Performance

INTU stock traded down $8.67 during trading on Friday, hitting $570.41. The company had a trading volume of 1,038,655 shares, compared to its average volume of 1,737,676. The firm has a market capitalization of $159.67 billion, a price-to-earnings ratio of 55.34, a P/E/G ratio of 2.87 and a beta of 1.24. The business has a 50 day moving average of $614.05 and a 200 day moving average of $628.50. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. 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 - Get Free Report) 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 company 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 earned $1.14 EPS. Intuit's revenue was up 10.2% on a year-over-year basis. As a group, research analysts predict that Intuit Inc. will post 14.09 earnings per share for the current 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.