Intuit Inc. (NASDAQ:INTU) Shares Sold by MAI Capital Management

MAI Capital Management reduced its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 5.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,757 shares of the software maker's stock after selling 776 shares during the quarter. MAI Capital Management's holdings in Intuit were worth $7,922,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of INTU. LGT Financial Advisors LLC purchased a new stake in Intuit during the second quarter valued at $25,000. Cultivar Capital Inc. bought a new stake in shares of Intuit during the 2nd quarter valued at $26,000. Fairway Wealth LLC bought a new position in Intuit in the 2nd quarter worth $26,000. Northwest Investment Counselors LLC purchased a new position in Intuit during the third quarter valued at $27,000. Finally, Hobbs Group Advisors LLC bought a new stake in Intuit during the second quarter valued at about $35,000. 83.66% of the stock is currently owned by institutional investors.

Insider Transactions at Intuit

In other Intuit news, EVP Alex G. Balazs sold 2,941 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the sale, the executive vice president now directly owns 20 shares of the company's stock, valued at approximately $12,575.20. This trade represents a 99.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sandeep Aujla sold 862 shares of the business's stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total value of $535,327.86. Following the completion of the transaction, the chief financial officer now directly owns 3,840 shares of the company's stock, valued at approximately $2,384,755.20. This trade represents a 18.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,297 shares of company stock worth $35,220,046 over the last three months. 2.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

INTU has been the subject of a number of recent research reports. Stifel Nicolaus boosted their price objective on Intuit from $690.00 to $795.00 and gave the company a "buy" rating in a research note on Friday, August 23rd. Barclays raised their price objective on shares of Intuit from $740.00 to $800.00 and gave the company an "overweight" rating in a research report on Friday. Piper Sandler reissued an "overweight" rating and set a $768.00 price target on shares of Intuit in a report on Friday, September 27th. JPMorgan Chase & Co. upped their price objective on Intuit from $585.00 to $600.00 and gave the stock a "neutral" rating in a research note on Friday, August 23rd. Finally, Susquehanna reissued a "positive" rating and set a $757.00 target price on shares of Intuit in a research note on Friday, August 16th. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $737.06.

Intuit Stock Down 5.1 %

Shares of INTU stock traded down $34.64 during mid-day trading on Tuesday, hitting $644.17. 2,469,926 shares of the stock traded hands, compared to its average volume of 1,341,890. The stock's fifty day moving average is $634.11 and its two-hundred day moving average is $630.65. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78. The stock has a market cap of $180.55 billion, a P/E ratio of 61.47, a P/E/G ratio of 3.36 and a beta of 1.25.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.14. The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The company's quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter last year, the company earned $0.40 earnings per share. Equities analysts predict that Intuit Inc. will post 14.05 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.