Intuit Inc. (NASDAQ:INTU) Shares Purchased by Quest Partners LLC

Quest Partners LLC lifted its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 203.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,652 shares of the software maker's stock after buying an additional 1,108 shares during the period. Quest Partners LLC's holdings in Intuit were worth $1,026,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in INTU. Legal & General Group Plc grew its holdings in Intuit by 1.0% during the 2nd quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker's stock worth $1,538,236,000 after acquiring an additional 23,995 shares during the last quarter. Ameriprise Financial Inc. grew its position in Intuit by 17.3% in the second quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker's stock valued at $1,062,578,000 after purchasing an additional 238,486 shares in the last quarter. Principal Financial Group Inc. grew its stake in Intuit by 4.2% in the second quarter. Principal Financial Group Inc. now owns 1,407,862 shares of the software maker's stock valued at $925,262,000 after purchasing an additional 56,370 shares in the last quarter. Capital World Investors grew its stake in Intuit by 1.0% in the 1st quarter. Capital World Investors now owns 1,188,779 shares of the software maker's stock valued at $772,706,000 after buying an additional 12,068 shares during the last quarter. Finally, Unisphere Establishment grew its stake in Intuit by 4.2% during the second quarter. Unisphere Establishment now owns 1,000,000 shares of the software maker's stock worth $657,210,000 after buying an additional 40,000 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

Intuit Trading Up 3.6 %

NASDAQ:INTU traded up $23.19 on Thursday, hitting $673.79. The stock had a trading volume of 591,189 shares, compared to its average volume of 1,341,244. The company has a fifty day moving average price of $634.46 and a two-hundred day moving average price of $630.89. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The stock has a market cap of $188.74 billion, a price-to-earnings ratio of 62.26, a PEG ratio of 3.15 and a beta of 1.25.

Intuit (NASDAQ:INTU - Get Free Report) last posted its earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating analysts' consensus estimates of $1.85 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The company had revenue of $3.18 billion for the quarter, compared to analysts' expectations of $3.08 billion. During the same quarter in the prior year, the company posted $0.40 earnings per share. Intuit's revenue for the quarter was up 17.4% compared to the same quarter last year. Equities research analysts expect that Intuit Inc. will post 14.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Intuit from $585.00 to $600.00 and gave the company a "neutral" rating in a report on Friday, August 23rd. Piper Sandler reiterated an "overweight" rating and set a $768.00 price objective on shares of Intuit in a report on Friday, September 27th. Jefferies Financial Group raised their price objective 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. StockNews.com raised shares of Intuit from a "hold" rating to a "buy" rating in a report on Monday, September 30th. Finally, Scotiabank started coverage on Intuit in a research note on Monday. They issued a "sector perform" rating and a $700.00 target price on the stock. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat.com, Intuit presently has a consensus rating of "Moderate Buy" and an average price target of $737.06.

Insiders Place Their Bets

In other Intuit news, Director Eve B. Burton sold 2,988 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $649.87, for a total transaction of $1,941,811.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Sandeep Aujla sold 4,000 shares of the business's stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the completion of the transaction, the chief financial officer now owns 452 shares of the company's stock, valued at approximately $279,010.56. This trade represents a 89.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,297 shares of company stock worth $35,220,046 over the last ninety days. Corporate insiders own 2.90% of the company's stock.

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.