Congress Asset Management Co. Buys 713 Shares of Intuit Inc. (NASDAQ:INTU)

Congress Asset Management Co. increased its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 0.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 217,954 shares of the software maker's stock after buying an additional 713 shares during the period. Intuit comprises about 0.9% of Congress Asset Management Co.'s portfolio, making the stock its 28th biggest position. Congress Asset Management Co. owned 0.08% of Intuit worth $136,984,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. R Squared Ltd purchased a new stake in shares of Intuit during the fourth quarter worth approximately $25,000. Northwest Investment Counselors LLC acquired a new position in Intuit in the third quarter valued at approximately $27,000. Heck Capital Advisors LLC acquired a new position in Intuit in the fourth quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Intuit in the fourth quarter valued at approximately $28,000. Finally, Sugar Maple Asset Management LLC acquired a new position in Intuit in the fourth quarter valued at approximately $29,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Stock Performance

INTU traded up $2.25 during trading on Wednesday, reaching $582.19. 2,062,392 shares of the company were exchanged, compared to its average volume of 1,729,756. The stock has a market cap of $162.97 billion, a P/E ratio of 56.52, a PEG ratio of 2.89 and a beta of 1.24. The firm has a 50 day moving average of $617.68 and a 200 day moving average of $629.18. 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 Inc. has a 52 week low of $557.29 and a 52 week high of $714.78.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping analysts' consensus estimates of $2.36 by $0.14. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm's revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.14 EPS. On average, sell-side analysts forecast that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

INTU has been the subject of several research analyst reports. BNP Paribas downgraded Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 price objective for the company. in a report on Wednesday, January 15th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $760.00 price target on shares of Intuit in a report on Friday, November 22nd. JPMorgan Chase & Co. increased their price target on Intuit from $600.00 to $640.00 and gave the stock a "neutral" rating in a report on Friday, November 22nd. Stifel Nicolaus cut their price objective on Intuit from $795.00 to $725.00 and set a "buy" rating for the company in a research report on Friday, November 22nd. Finally, Redburn Atlantic started coverage on Intuit in a research report on Wednesday. They issued a "neutral" rating for the company. 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. Based on data from MarketBeat.com, Intuit presently has a consensus rating of "Moderate Buy" and a consensus target price of $726.53.

Insider Activity at Intuit

In related news, EVP Laura A. Fennell sold 4,788 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total value of $2,938,012.56. Following the completion of the sale, the executive vice president now directly owns 30,010 shares of the company's stock, valued at approximately $18,414,736.20. This represents a 13.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Lauren D. Hotz sold 1,078 shares of the firm's stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $619.28, for a total value of $667,583.84. Following the sale, the chief accounting officer now directly owns 1,864 shares of the company's stock, valued at $1,154,337.92. This trade represents a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 293,014 shares of company stock valued at $188,992,187 over the last 90 days. 2.68% of the stock is currently owned by corporate insiders.

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.