Overbrook Management Corp Has $15.28 Million Stake in Intuit Inc. (NASDAQ:INTU)

Overbrook Management Corp reduced its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 11.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,609 shares of the software maker's stock after selling 3,228 shares during the period. Intuit accounts for approximately 3.5% of Overbrook Management Corp's investment portfolio, making the stock its 13th biggest position. Overbrook Management Corp's holdings in Intuit were worth $15,282,000 as of its most recent SEC filing.

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

Insider Buying and Selling at Intuit

In related news, Director Eve B. Burton sold 2,988 shares of the company's stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $649.87, for a total value of $1,941,811.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Sandeep Aujla sold 775 shares of the company's stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total value of $466,015.25. Following the completion of the sale, the chief financial officer now directly owns 4,451 shares in the company, valued at approximately $2,676,430.81. The trade was a 14.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,297 shares of company stock worth $35,220,046. 2.90% of the stock is currently owned by insiders.

Intuit Stock Performance

NASDAQ:INTU opened at $650.60 on Thursday. 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 1-year low of $557.29 and a 1-year high of $714.78. The business has a 50 day moving average of $634.46 and a 200 day moving average of $630.89. The company has a market capitalization of $182.25 billion, a price-to-earnings ratio of 62.26, a PEG ratio of 3.15 and a beta of 1.25.

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on INTU. Scotiabank began coverage on shares of Intuit in a research report on Monday. They set a "sector perform" rating and a $700.00 target price for the company. Jefferies Financial Group raised their price objective on shares of Intuit from $770.00 to $790.00 and gave the stock a "buy" rating in a research report on Friday, August 23rd. Morgan Stanley downgraded shares of Intuit from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $750.00 to $685.00 in a research report on Wednesday, August 14th. Stifel Nicolaus raised their price objective on shares of Intuit from $690.00 to $795.00 and gave the stock a "buy" rating in a research report on Friday, August 23rd. Finally, StockNews.com raised shares of Intuit from a "hold" rating to a "buy" rating in a research report on Monday, September 30th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Intuit has a consensus rating of "Moderate Buy" and an average price target of $737.06.

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.

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