Rhumbline Advisers Sells 5,844 Shares of Intuit Inc. (NASDAQ:INTU)

Rhumbline Advisers lowered its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 1.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 559,947 shares of the software maker's stock after selling 5,844 shares during the quarter. Rhumbline Advisers owned about 0.20% of Intuit worth $351,927,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. R Squared Ltd purchased a new position in shares of Intuit during the fourth quarter valued at approximately $25,000. Northwest Investment Counselors LLC bought a new position in Intuit during the 3rd quarter valued at $27,000. Heck Capital Advisors LLC purchased a new position in Intuit during the 4th quarter worth $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Intuit in the 4th quarter worth $28,000. Finally, Sugar Maple Asset Management LLC bought a new stake in shares of Intuit in the 4th quarter worth $29,000. Institutional investors own 83.66% of the company's stock.

Insiders Place Their Bets

In other news, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the completion of the sale, the chief accounting officer now owns 1,864 shares in the company, valued at approximately $1,154,337.92. This trade represents a 36.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Scott D. Cook sold 75,000 shares of the stock in a transaction 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 completion of the transaction, the insider now directly owns 6,378,105 shares in the company, valued at $4,093,595,351.10. The trade was a 1.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 293,014 shares of company stock worth $188,992,187 in the last three months. 2.68% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on INTU. StockNews.com upgraded shares of Intuit from a "hold" rating to a "buy" rating in a report on Thursday, January 23rd. Piper Sandler reaffirmed an "overweight" rating and issued a $765.00 target price on shares of Intuit in a report on Friday, January 10th. Oppenheimer lifted their price target on Intuit from $712.00 to $722.00 and gave the stock an "outperform" rating in a report on Friday, November 22nd. Scotiabank began coverage on Intuit in a research report on Monday, November 18th. They issued a "sector perform" rating and a $700.00 price objective on the stock. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $760.00 target price on shares of Intuit in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Intuit currently has an average rating of "Moderate Buy" and a consensus target price of $726.53.

Intuit Stock Performance

INTU stock traded up $2.25 during midday trading on Wednesday, reaching $582.19. 2,062,716 shares of the company's stock traded hands, compared to its average volume of 1,731,106. The firm has a market capitalization of $162.97 billion, a PE ratio of 56.52, a price-to-earnings-growth ratio of 2.89 and a beta of 1.24. The company has a 50-day moving average price of $617.68 and a two-hundred day moving average price of $629.18. Intuit Inc. has a 52 week low of $557.29 and a 52 week 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.

Intuit (NASDAQ:INTU - Get Free Report) last released 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. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm'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 company posted $1.14 EPS. As a group, equities analysts anticipate that Intuit Inc. will post 14.09 EPS for the current year.

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.