Empowered Funds LLC decreased its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 15.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,556 shares of the software maker's stock after selling 1,011 shares during the quarter. Empowered Funds LLC's holdings in Intuit were worth $3,450,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Ontario Teachers Pension Plan Board purchased a new position in Intuit during the 1st quarter valued at about $1,075,000. Bessemer Group Inc. increased its holdings in Intuit by 14.2% during the first quarter. Bessemer Group Inc. now owns 19,676 shares of the software maker's stock valued at $12,790,000 after buying an additional 2,450 shares during the period. MQS Management LLC bought a new position in Intuit in the first quarter worth approximately $294,000. Crewe Advisors LLC purchased a new stake in Intuit during the first quarter worth $505,000. Finally, Mattern Capital Management LLC bought a new stake in Intuit during the 1st quarter valued at $396,000. Hedge funds and other institutional investors own 83.66% of the company's stock.
Insider Buying and Selling
In related news, CFO Sandeep Aujla sold 4,000 shares of the business's stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $617.28, for a total value of $2,469,120.00. Following the completion of the sale, the chief financial officer now owns 452 shares of the company's stock, valued at approximately $279,010.56. The trade was a 89.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Scott D. Cook sold 2,461 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the transaction, the insider now directly owns 6,453,105 shares in the company, valued at approximately $4,111,853,974.95. The trade was a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 55,297 shares of company stock valued at $35,220,046. 2.90% of the stock is owned by company insiders.
Analyst Ratings Changes
Several research firms have issued reports on INTU. JPMorgan Chase & Co. lifted their price target on shares of Intuit from $585.00 to $600.00 and gave the stock a "neutral" rating in a report on Friday, August 23rd. Morgan Stanley downgraded Intuit from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $750.00 to $685.00 in a research note on Wednesday, August 14th. Piper Sandler reissued an "overweight" rating and issued a $768.00 price target on shares of Intuit in a report on Friday, September 27th. BMO Capital Markets boosted their price target on Intuit from $700.00 to $760.00 and gave the stock an "outperform" rating in a research note on Friday, August 23rd. Finally, Scotiabank initiated coverage on shares of Intuit in a research report on Monday. They issued a "sector perform" rating and a $700.00 price objective for the company. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $737.06.
View Our Latest Stock Analysis on Intuit
Intuit Stock Performance
Intuit stock traded down $34.64 during mid-day trading on Tuesday, hitting $644.17. The company had a trading volume of 2,494,299 shares, compared to its average volume of 1,341,998. The company has a market capitalization of $180.55 billion, a price-to-earnings ratio of 61.64, a P/E/G ratio of 3.36 and a beta of 1.25. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78. The company's fifty day moving average is $634.32 and its 200-day moving average is $630.75. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30.
Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating the consensus estimate of $1.85 by $0.14. The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The firm's revenue was up 17.4% on a year-over-year basis. During the same quarter last year, the business earned $0.40 earnings per share. Equities research analysts predict that Intuit Inc. will post 14.05 EPS for the current year.
About Intuit
(
Free Report)
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.
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