Northstar Asset Management Inc. Decreases Holdings in Intuit Inc. (NASDAQ:INTU)

Northstar Asset Management Inc. reduced its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 2.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 20,616 shares of the software maker's stock after selling 545 shares during the quarter. Intuit makes up 3.4% of Northstar Asset Management Inc.'s investment portfolio, making the stock its 10th largest holding. Northstar Asset Management Inc.'s holdings in Intuit were worth $12,957,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new stake in shares of Intuit in the fourth quarter worth $25,000. Northwest Investment Counselors LLC bought a new position in Intuit in the 3rd quarter worth $27,000. Heck Capital Advisors LLC acquired a new position in Intuit during the 4th quarter worth $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Intuit during the fourth quarter valued at about $28,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in shares of Intuit in the fourth quarter valued at about $29,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Scott D. Cook sold 75,000 shares of the 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sasan K. Goodarzi sold 26,562 shares of Intuit stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $625.89, for a total value of $16,624,890.18. Following the completion of the transaction, the chief executive officer now owns 37,869 shares of the company's stock, valued at approximately $23,701,828.41. The trade was a 41.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 293,014 shares of company stock worth $188,992,187 in the last quarter. 2.68% of the stock is owned by corporate insiders.

Intuit Price Performance

Shares of Intuit stock traded down $13.61 during midday trading on Friday, hitting $565.47. 2,006,382 shares of the company were exchanged, compared to its average volume of 1,767,831. The firm has a 50 day simple moving average of $612.23 and a 200-day simple moving average of $628.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market cap of $158.29 billion, a P/E ratio of 54.90, a PEG ratio of 2.87 and a beta of 1.24. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company had revenue of $3.28 billion during the quarter, compared to analysts' expectations of $3.14 billion. During the same period last year, the business earned $1.14 earnings per share. The business's revenue was up 10.2% on a year-over-year basis. Research analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Oppenheimer boosted their price objective on Intuit from $712.00 to $722.00 and gave the stock an "outperform" rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. upped their price target on Intuit from $600.00 to $640.00 and gave the stock a "neutral" rating in a report on Friday, November 22nd. StockNews.com upgraded shares of Intuit from a "hold" rating to a "buy" rating in a research note on Thursday, January 23rd. BNP Paribas lowered shares of Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 target price on the stock. in a research report on Wednesday, January 15th. Finally, Scotiabank initiated coverage on shares of Intuit in a report on Monday, November 18th. They issued a "sector perform" rating and a $700.00 price target for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Intuit currently has a consensus rating of "Moderate Buy" and a consensus target price of $726.53.

Intuit Company 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.