C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Buys New Holdings in Intuit Inc. (NASDAQ:INTU)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Intuit Inc. (NASDAQ:INTU - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 108,876 shares of the software maker's stock, valued at approximately $68,429,000. Intuit accounts for about 2.4% of C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors' holdings, making the stock its 7th biggest position.

Other large investors have also bought and sold shares of the company. International Assets Investment Management LLC increased its holdings in shares of Intuit by 68,404.7% in the third quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker's stock valued at $300,768,000 after buying an additional 483,621 shares in the last quarter. Holocene Advisors LP raised its position in shares of Intuit by 99.6% during the third quarter. Holocene Advisors LP now owns 625,583 shares of the software maker's stock worth $388,487,000 after purchasing an additional 312,212 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Intuit by 83.2% during the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker's stock valued at $371,984,000 after purchasing an additional 268,060 shares during the last quarter. State Street Corp boosted its position in shares of Intuit by 1.8% in the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker's stock valued at $7,648,910,000 after purchasing an additional 221,885 shares during the period. Finally, Union Bancaire Privee UBP SA purchased a new position in Intuit in the 4th quarter worth about $104,278,000. Institutional investors own 83.66% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on INTU shares. Scotiabank initiated coverage on shares of Intuit in a research note on Monday, November 18th. They set a "sector perform" rating and a $700.00 price objective for the company. Barclays decreased their price objective 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. 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 report on Wednesday, January 15th. Redburn Atlantic began coverage on Intuit in a report on Wednesday. They issued a "neutral" rating for the company. Finally, Stifel Nicolaus lowered their price target on Intuit from $795.00 to $725.00 and set a "buy" rating on the stock in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, Intuit presently has a consensus rating of "Moderate Buy" and an average target price of $726.53.

Intuit Stock Down 2.4 %

Shares of INTU stock traded down $13.61 on Friday, hitting $565.47. The company's stock had a trading volume of 2,006,382 shares, compared to its average volume of 1,767,831. The stock has a market capitalization of $158.29 billion, a price-to-earnings ratio of 54.90, a P/E/G ratio of 2.87 and a beta of 1.24. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The firm's fifty day moving average price is $612.23 and its 200-day moving average price is $628.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24.

Intuit (NASDAQ:INTU - Get Free Report) last announced its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping analysts' consensus estimates of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company had revenue of $3.28 billion during the quarter, compared to analysts' expectations of $3.14 billion. During the same quarter in the previous year, the firm earned $1.14 earnings per share. The business's quarterly revenue was up 10.2% compared to the same quarter last year. Research analysts anticipate that Intuit Inc. will post 14.09 EPS for the current year.

Insider Buying and Selling

In related 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 transaction, the chief accounting officer now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total value of $47,257,500.00. Following the completion of the sale, the chief executive officer now directly owns 35,776 shares of the company's stock, valued at $22,542,457.60. This represents a 67.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 293,014 shares of company stock worth $188,992,187. 2.68% of the stock is currently owned by insiders.

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.