Intuit Inc. (NASDAQ:INTU) Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. boosted its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 2.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 127,892 shares of the software maker's stock after purchasing an additional 2,498 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Intuit were worth $79,421,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in INTU. Harvest Portfolios Group Inc. lifted its holdings in shares of Intuit by 5.4% during the third quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker's stock worth $22,295,000 after purchasing an additional 1,853 shares during the period. GAMMA Investing LLC increased its stake in shares of Intuit by 33.7% during the third quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker's stock worth $2,383,000 after acquiring an additional 968 shares during the period. Cetera Advisors LLC raised its holdings in Intuit by 33.4% during the first quarter. Cetera Advisors LLC now owns 10,607 shares of the software maker's stock worth $6,895,000 after purchasing an additional 2,655 shares in the last quarter. Park Avenue Securities LLC boosted its holdings in Intuit by 13.4% in the 2nd quarter. Park Avenue Securities LLC now owns 11,257 shares of the software maker's stock valued at $7,398,000 after purchasing an additional 1,328 shares in the last quarter. Finally, BDF Gestion acquired a new position in Intuit during the 2nd quarter worth approximately $7,196,000. Institutional investors and hedge funds own 83.66% of the company's stock.

Intuit Trading Up 1.0 %

Shares of NASDAQ INTU traded up $6.43 during midday trading on Wednesday, hitting $650.60. The stock had a trading volume of 1,825,303 shares, compared to its average volume of 1,344,574. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78. The company has a market capitalization of $182.36 billion, a price-to-earnings ratio of 62.26, a PEG ratio of 3.36 and a beta of 1.25. The company has a fifty day moving average price of $634.46 and a 200 day moving average price of $630.89.

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

Analysts Set New Price Targets

A number of analysts recently weighed in on INTU shares. Jefferies Financial Group lifted their price target on Intuit from $770.00 to $790.00 and gave the company a "buy" rating in a research note on Friday, August 23rd. Barclays upped their price target on shares of Intuit from $740.00 to $800.00 and gave the stock an "overweight" rating in a research note on Friday, November 15th. Susquehanna reiterated a "positive" rating and issued a $757.00 price objective on shares of Intuit in a research note on Friday, August 16th. Piper Sandler restated an "overweight" rating and set a $768.00 target price on shares of Intuit in a research report on Friday, September 27th. Finally, Stifel Nicolaus lifted their price target on shares of Intuit from $690.00 to $795.00 and gave the company a "buy" rating in a research report on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Intuit currently has an average rating of "Moderate Buy" and an average target price of $737.06.

Insider Buying and Selling

In other news, CFO Sandeep Aujla sold 4,000 shares of the business's stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $617.28, for a total value of $2,469,120.00. Following the completion of the sale, the chief financial officer now owns 452 shares of the company's stock, valued at approximately $279,010.56. The trade was a 89.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kerry J. Mclean sold 11,079 shares of the business's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total value of $6,997,607.19. Following the completion of the sale, the executive vice president now directly owns 24,941 shares of the company's stock, valued at approximately $15,752,985.01. This represents a 30.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,297 shares of company stock worth $35,220,046. 2.90% of the stock is currently owned by corporate insiders.

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.