Davidson Investment Advisors Grows Stock Position in Intuit Inc. (NASDAQ:INTU)

Davidson Investment Advisors grew its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 1.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,940 shares of the software maker's stock after purchasing an additional 553 shares during the quarter. Intuit makes up approximately 1.3% of Davidson Investment Advisors' investment portfolio, making the stock its 23rd largest position. Davidson Investment Advisors' holdings in Intuit were worth $26,359,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Activity at Intuit

In other news, insider Scott D. Cook sold 75,000 shares of the firm's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the sale, the insider now directly owns 6,378,105 shares in the company, valued at $4,093,595,351.10. This trade represents a 1.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Laura A. Fennell sold 4,788 shares of Intuit stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total value of $2,938,012.56. Following the completion of the transaction, the executive vice president now 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 293,014 shares of company stock worth $188,992,187. 2.68% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

INTU has been the subject of a number of analyst reports. StockNews.com upgraded Intuit from a "hold" rating to a "buy" rating in a research note on Thursday, January 23rd. Piper Sandler reissued an "overweight" rating and set a $765.00 price target on shares of Intuit in a research report on Friday, January 10th. Oppenheimer raised their price target on shares of Intuit from $712.00 to $722.00 and gave the company an "outperform" rating in a report on Friday, November 22nd. Royal Bank of Canada reissued an "outperform" rating and set a $760.00 target price on shares of Intuit in a research report on Friday, November 22nd. Finally, Scotiabank assumed coverage on shares of Intuit in a report on Monday, November 18th. They set a "sector perform" rating and a $700.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Intuit presently has an average rating of "Moderate Buy" and a consensus price target of $726.53.

Intuit Stock Performance

NASDAQ:INTU traded down $13.61 during trading hours on Friday, reaching $565.47. The company had a trading volume of 2,006,382 shares, compared to its average volume of 1,767,831. 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 Inc. has a 1-year low of $557.29 and a 1-year high of $714.78. The business's 50 day moving average price is $612.23 and its 200-day moving average price is $628.24. The firm has a market cap 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 (NASDAQ:INTU - Get Free Report) last posted its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm had revenue of $3.28 billion during the quarter, compared to analysts' expectations of $3.14 billion. During the same period in the previous year, the business posted $1.14 EPS. The business's revenue was up 10.2% compared to the same quarter last year. Research analysts forecast that Intuit Inc. will post 14.09 EPS for the current year.

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.