Montag A & Associates Inc. Sells 2,035 Shares of Intuit Inc. (NASDAQ:INTU)

Montag A & Associates Inc. cut its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 13.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,435 shares of the software maker's stock after selling 2,035 shares during the period. Montag A & Associates Inc.'s holdings in Intuit were worth $8,444,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada reaffirmed an "outperform" rating and set a $760.00 price target on shares of Intuit in a report on Friday, November 22nd. Oppenheimer raised their price target on Intuit from $712.00 to $722.00 and gave the company an "outperform" rating in a report on Friday, November 22nd. BNP Paribas cut Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 target price for the company. in a research note on Wednesday, January 15th. Stifel Nicolaus lowered their target price on Intuit from $795.00 to $725.00 and set a "buy" rating for the company in a research note on Friday, November 22nd. Finally, Piper Sandler reissued an "overweight" rating and issued a $765.00 target price on shares of Intuit in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $726.53.

Insiders Place Their Bets

In other Intuit news, EVP Alex G. Balazs sold 23,810 shares of Intuit stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the transaction, the executive vice president now directly owns 489 shares in the company, valued at approximately $325,664.22. The trade was a 97.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 value of $667,583.84. Following the transaction, the chief accounting officer now owns 1,864 shares in the company, valued at approximately $1,154,337.92. This represents a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 293,014 shares of company stock worth $188,992,187. Corporate insiders own 2.68% of the company's stock.

Intuit Trading Up 0.4 %

Shares of NASDAQ:INTU traded up $2.25 during midday trading on Wednesday, hitting $582.19. The company had a trading volume of 2,062,392 shares, compared to its average volume of 1,729,756. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a market cap of $162.97 billion, a price-to-earnings ratio of 56.52, a PEG ratio of 2.89 and a beta of 1.24. The firm has a fifty day simple moving average of $617.68 and a 200 day simple moving average of $629.18.

Intuit (NASDAQ:INTU - Get Free Report) last posted its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.14. The firm 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 company's revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.14 earnings per share. On average, analysts predict 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.