Howe & Rusling Inc. Purchases 808 Shares of Intuit Inc. (NASDAQ:INTU)

Howe & Rusling Inc. lifted its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 8.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,857 shares of the software maker's stock after acquiring an additional 808 shares during the quarter. Howe & Rusling Inc.'s holdings in Intuit were worth $6,742,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of INTU. NS Partners Ltd boosted its holdings in Intuit by 1.8% in the third quarter. NS Partners Ltd now owns 101,263 shares of the software maker's stock valued at $62,884,000 after acquiring an additional 1,778 shares during the last quarter. Prospera Private Wealth LLC boosted its holdings in shares of Intuit by 1,748.0% in the third quarter. Prospera Private Wealth LLC now owns 6,579 shares of the software maker's stock valued at $4,086,000 after buying an additional 6,223 shares during the period. West Family Investments Inc. raised its holdings in shares of Intuit by 64.8% during the third quarter. West Family Investments Inc. now owns 740 shares of the software maker's stock worth $460,000 after acquiring an additional 291 shares during the period. PNC Financial Services Group Inc. lifted its position in Intuit by 2.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 127,892 shares of the software maker's stock valued at $79,421,000 after acquiring an additional 2,498 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Intuit in the 3rd quarter worth $56,144,000. Institutional investors and hedge funds own 83.66% of the company's stock.

Intuit Trading Up 1.0 %

NASDAQ INTU traded up $6.43 during trading hours on Wednesday, hitting $650.60. 1,784,239 shares of the company's stock were exchanged, compared to its average volume of 1,344,150. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The stock has a 50-day simple moving average of $634.32 and a 200 day simple moving average of $630.75. The firm has a market cap of $182.36 billion, a price-to-earnings ratio of 61.64, a PEG ratio of 3.36 and a beta of 1.25.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping analysts' consensus estimates of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The firm had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same period in the previous year, the company posted $0.40 EPS. The company's revenue for the quarter was up 17.4% on a year-over-year basis. On average, equities analysts forecast that Intuit Inc. will post 14.05 EPS for the current fiscal year.

Insider Activity at Intuit

In related news, EVP Laura A. Fennell sold 30,159 shares of the firm's stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $642.36, for a total value of $19,372,935.24. Following the sale, the executive vice president now directly owns 52,038 shares of the company's stock, valued at $33,427,129.68. This trade represents a 36.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Scott D. Cook sold 2,461 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the completion of the transaction, the insider now directly owns 6,453,105 shares in the company, valued at $4,111,853,974.95. The trade was a 0.04 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,297 shares of company stock worth $35,220,046. 2.90% of the stock is owned by company insiders.

Analyst Ratings Changes

INTU has been the topic of a number of recent research reports. Scotiabank began coverage on shares of Intuit in a report on Monday. They issued a "sector perform" rating and a $700.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on Intuit from $585.00 to $600.00 and gave the stock a "neutral" rating in a research note on Friday, August 23rd. Morgan Stanley cut Intuit from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $750.00 to $685.00 in a research report on Wednesday, August 14th. Jefferies Financial Group raised their price target on shares of Intuit from $770.00 to $790.00 and gave the company a "buy" rating in a research note on Friday, August 23rd. Finally, Susquehanna reissued a "positive" rating and issued a $757.00 price objective on shares of Intuit in a research note on Friday, August 16th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $737.06.

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.