GAM Holding AG Buys 2,985 Shares of Intuit Inc. (NASDAQ:INTU)

GAM Holding AG grew its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 17.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,421 shares of the software maker's stock after acquiring an additional 2,985 shares during the quarter. GAM Holding AG's holdings in Intuit were worth $12,835,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. State Street Corp grew its holdings in shares of Intuit by 1.8% during the third quarter. State Street Corp now owns 12,317,086 shares of the software maker's stock valued at $7,648,910,000 after buying an additional 221,885 shares during the last quarter. Geode Capital Management LLC boosted its stake in Intuit by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker's stock valued at $3,701,762,000 after purchasing an additional 80,463 shares during the last quarter. Fisher Asset Management LLC increased its holdings in shares of Intuit by 2.9% in the 3rd quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker's stock worth $2,376,984,000 after purchasing an additional 107,482 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Intuit by 4.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,300,789 shares of the software maker's stock worth $1,428,790,000 after purchasing an additional 87,517 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Intuit by 1.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,688,445 shares of the software maker's stock worth $1,048,524,000 after buying an additional 26,914 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on INTU shares. Jefferies Financial Group raised their price target 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 downgraded Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 price target on the stock. in a research note on Wednesday, January 15th. Barclays cut their price objective on Intuit from $800.00 to $775.00 and set an "overweight" rating for the company in a report on Friday, November 22nd. Redburn Atlantic started coverage on Intuit in a report on Wednesday. They issued a "neutral" rating on the stock. Finally, Royal Bank of Canada restated an "outperform" rating and set a $760.00 target price on shares of Intuit in a research report on Friday, November 22nd. One investment 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 MarketBeat.com, Intuit presently has an average rating of "Moderate Buy" and a consensus price target of $726.53.

Insiders Place Their Bets

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the company's stock in a transaction that occurred on 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 represents a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Lauren D. Hotz sold 1,078 shares of the firm's stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the sale, the chief accounting officer now directly owns 1,864 shares of the company's stock, valued at $1,154,337.92. The trade was a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 293,014 shares of company stock valued at $188,992,187 in the last quarter. 2.68% of the stock is currently owned by insiders.

Intuit Price Performance

INTU stock traded down $13.61 during midday trading 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 company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a 50 day moving average of $612.23 and a two-hundred day moving average of $628.24. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. The firm has a market capitalization of $158.29 billion, a price-to-earnings 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 announced its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping 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 business had revenue of $3.28 billion for the quarter, compared to analysts' expectations of $3.14 billion. During the same quarter in the previous year, the company earned $1.14 EPS. The business's quarterly revenue was up 10.2% compared to the same quarter last year. On average, analysts expect that Intuit Inc. will post 14.09 EPS for the current year.

Intuit 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.