AustralianSuper Pty Ltd Has $173.49 Million Position in Intuit Inc. (NASDAQ:INTU)

AustralianSuper Pty Ltd cut its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 18.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 276,038 shares of the software maker's stock after selling 60,498 shares during the period. Intuit accounts for about 0.8% of AustralianSuper Pty Ltd's investment portfolio, making the stock its 27th biggest position. AustralianSuper Pty Ltd owned approximately 0.10% of Intuit worth $173,490,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Nordea Investment Management AB grew its position in shares of Intuit by 83.2% during the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker's stock worth $371,984,000 after buying an additional 268,060 shares during the period. Whalen Wealth Management Inc. acquired a new stake in shares of Intuit during the 4th quarter worth approximately $621,000. Harvest Portfolios Group Inc. grew its position in shares of Intuit by 5.4% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker's stock worth $22,295,000 after buying an additional 1,853 shares during the period. Retireful LLC acquired a new stake in shares of Intuit during the 3rd quarter worth approximately $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Intuit during the 3rd quarter worth approximately $56,144,000. 83.66% of the stock is owned by institutional investors.

Insider Transactions at Intuit

In other Intuit news, CAO Lauren D. Hotz sold 1,078 shares of the company's stock in a transaction on Friday, January 10th. The shares were sold at an average price of $619.28, for a total transaction of $667,583.84. Following the sale, the chief accounting officer now directly owns 1,864 shares of the company's stock, valued at approximately $1,154,337.92. This represents a 36.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Sandeep Aujla sold 109 shares of the company's stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $628.50, for a total transaction of $68,506.50. Following the sale, the chief financial officer now directly owns 1,944 shares in the company, valued at $1,221,804. This trade represents a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 293,014 shares of company stock valued at $188,992,187 over the last 90 days. 2.68% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on INTU shares. Royal Bank of Canada reiterated an "outperform" rating and set a $760.00 price target on shares of Intuit in a research report on Friday, November 22nd. StockNews.com upgraded shares of Intuit from a "hold" rating to a "buy" rating in a research report on Thursday, January 23rd. BNP Paribas cut shares of Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 price objective for the company. in a report on Wednesday, January 15th. Scotiabank assumed coverage on shares of Intuit in a report on Monday, November 18th. They set a "sector perform" rating and a $700.00 price objective for the company. Finally, Morgan Stanley boosted their price objective on shares of Intuit from $685.00 to $730.00 and gave the company an "equal weight" rating in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Intuit presently has an average rating of "Moderate Buy" and a consensus price target of $726.53.

Intuit Stock Down 1.3 %

Shares of INTU stock traded down $7.44 during trading on Tuesday, reaching $579.94. The company's stock had a trading volume of 2,053,467 shares, compared to its average volume of 1,720,392. The business has a fifty day moving average price of $619.03 and a 200-day moving average price of $629.49. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a market cap of $162.34 billion, a price-to-earnings ratio of 56.30, a price-to-earnings-growth ratio of 2.91 and a beta of 1.24. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78.

Intuit (NASDAQ:INTU - Get Free Report) last announced its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping analysts' consensus estimates of $2.36 by $0.14. The business 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 firm's revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.14 earnings per share. Analysts anticipate 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.