ING Groep NV Has $50.68 Million Stake in Intuit Inc. (NASDAQ:INTU)

ING Groep NV cut its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 15.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,637 shares of the software maker's stock after selling 14,266 shares during the quarter. ING Groep NV's holdings in Intuit were worth $50,680,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Nordea Investment Management AB increased its position in Intuit by 83.2% during the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker's stock worth $371,984,000 after acquiring an additional 268,060 shares during the period. Whalen Wealth Management Inc. acquired a new position in shares of Intuit during the 4th quarter worth approximately $621,000. Harvest Portfolios Group Inc. increased its holdings in shares of Intuit by 5.4% during the third quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker's stock worth $22,295,000 after purchasing an additional 1,853 shares during the period. Retireful LLC acquired a new stake in shares of Intuit in the third quarter valued at approximately $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Intuit in the third quarter valued at approximately $56,144,000. Institutional investors and hedge funds own 83.66% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on INTU. Royal Bank of Canada restated an "outperform" rating and set a $760.00 price objective on shares of Intuit in a research note on Friday, November 22nd. Oppenheimer boosted their price target on Intuit from $712.00 to $722.00 and gave the company an "outperform" rating in a research note on Friday, November 22nd. Stifel Nicolaus cut their price objective on shares of Intuit from $795.00 to $725.00 and set a "buy" rating for the company in a research report on Friday, November 22nd. Scotiabank assumed coverage on shares of Intuit in a report on Monday, November 18th. They issued a "sector perform" rating and a $700.00 target price on the stock. Finally, StockNews.com upgraded shares of Intuit from a "hold" rating to a "buy" rating in a research report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $726.53.

Insider Transactions at Intuit

In other Intuit news, insider Scott D. Cook sold 75,000 shares of Intuit 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 transaction, the insider now directly owns 6,378,105 shares of the company's stock, valued at approximately $4,093,595,351.10. The trade was a 1.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Lauren D. Hotz sold 1,078 shares of the company's stock in a transaction dated 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 owns 1,864 shares in the company, valued at $1,154,337.92. This trade represents a 36.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 293,014 shares of company stock worth $188,992,187. Company insiders own 2.68% of the company's stock.

Intuit Trading Down 2.4 %

Shares of NASDAQ:INTU traded down $13.61 during midday trading on Friday, hitting $565.47. 2,006,382 shares of the stock were exchanged, compared to its average volume of 1,767,831. The business's 50-day moving average price is $614.05 and its 200 day moving average price is $628.50. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market capitalization of $158.29 billion, a price-to-earnings ratio of 54.90, a P/E/G 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 for the quarter, topping analysts' consensus estimates of $2.36 by $0.14. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.14 EPS. Analysts predict that Intuit Inc. will post 14.09 earnings per share 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.