Retireful LLC Invests $740,000 in Intuit Inc. (NASDAQ:INTU)

Retireful LLC purchased a new position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,192 shares of the software maker's stock, valued at approximately $740,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in INTU. LGT Financial Advisors LLC purchased a new position in Intuit during the 2nd quarter valued at about $25,000. Cultivar Capital Inc. purchased a new stake in Intuit in the 2nd quarter worth approximately $26,000. Fairway Wealth LLC bought a new stake in Intuit during the 2nd quarter valued at approximately $26,000. Northwest Investment Counselors LLC purchased a new stake in shares of Intuit in the 3rd quarter worth about $27,000. Finally, Hobbs Group Advisors LLC bought a new position in Intuit during the 2nd quarter valued at approximately $35,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Stock Performance

Shares of NASDAQ INTU traded up $6.43 during midday trading on Wednesday, reaching $650.60. 1,825,303 shares of the company traded hands, compared to its average volume of 1,344,574. The stock has a 50-day moving average price of $634.32 and a 200 day moving average price of $630.75. The company has a market cap of $182.36 billion, a price-to-earnings ratio of 61.64, a PEG ratio of 3.36 and a beta of 1.25. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78. 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 (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping 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 firm had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same quarter last year, the business posted $0.40 EPS. The company's revenue was up 17.4% on a year-over-year basis. Sell-side analysts anticipate that Intuit Inc. will post 14.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Scott D. Cook sold 2,461 shares of the business's stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total value of $1,568,124.59. Following the completion of the transaction, the insider now owns 6,453,105 shares in the company, valued at $4,111,853,974.95. The trade was a 0.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Kerry J. Mclean sold 11,079 shares of the firm's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total value of $6,997,607.19. Following the transaction, the executive vice president now owns 24,941 shares in the company, valued at approximately $15,752,985.01. This trade represents a 30.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,297 shares of company stock worth $35,220,046 over the last 90 days. Corporate insiders own 2.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on INTU shares. Scotiabank assumed coverage on shares of Intuit in a report on Monday. They issued a "sector perform" rating and a $700.00 price objective for the company. Barclays upped their price target on shares of Intuit from $740.00 to $800.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. Susquehanna restated a "positive" rating and issued a $757.00 price target on shares of Intuit in a research report on Friday, August 16th. Morgan Stanley lowered Intuit from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $750.00 to $685.00 in a research note on Wednesday, August 14th. Finally, Bank of America raised their target price on shares of Intuit from $730.00 to $780.00 and gave the company a "buy" rating in a research note on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price 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.