Valmark Advisers Inc. Purchases 1,499 Shares of Intuit Inc. (NASDAQ:INTU)

Valmark Advisers Inc. lifted its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 81.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,329 shares of the software maker's stock after purchasing an additional 1,499 shares during the quarter. Valmark Advisers Inc.'s holdings in Intuit were worth $2,092,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp boosted its position in shares of Intuit by 1.8% during the third quarter. State Street Corp now owns 12,317,086 shares of the software maker's stock worth $7,648,910,000 after purchasing an additional 221,885 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Intuit by 1.4% during the third quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker's stock worth $3,701,762,000 after purchasing an additional 80,463 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Intuit by 2.9% during the third quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker's stock worth $2,376,984,000 after acquiring an additional 107,482 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Intuit by 4.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,300,789 shares of the software maker's stock worth $1,428,790,000 after acquiring an additional 87,517 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Intuit by 1.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,688,445 shares of the software maker's stock worth $1,048,524,000 after acquiring an additional 26,914 shares during the period. 83.66% of the stock is owned by institutional investors.

Intuit Stock Performance

Shares of Intuit stock traded down $3.11 during trading on Thursday, hitting $579.08. 2,703,284 shares of the stock were exchanged, compared to its average volume of 1,760,584. The stock has a market capitalization of $162.10 billion, a price-to-earnings ratio of 56.22, a price-to-earnings-growth ratio of 2.86 and a beta of 1.24. The company has a fifty day moving average price of $615.92 and a 200-day moving average price of $628.85. Intuit Inc. has a 1-year low of $557.29 and a 1-year 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.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings data 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 company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. Intuit's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.14 EPS. As a group, equities analysts predict that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on INTU. Royal Bank of Canada restated an "outperform" rating and set a $760.00 price objective on shares of Intuit in a report on Friday, November 22nd. Scotiabank began coverage on shares of Intuit in a report on Monday, November 18th. They set a "sector perform" rating and a $700.00 price objective on the stock. BNP Paribas lowered shares of Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 price objective on the stock. in a report on Wednesday, January 15th. Redburn Atlantic began coverage on shares of Intuit in a report on Wednesday. They set a "neutral" rating on the stock. Finally, Stifel Nicolaus dropped their price objective on shares of Intuit from $795.00 to $725.00 and set a "buy" rating on the stock in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Intuit has an average rating of "Moderate Buy" and a consensus price target of $726.53.

Insider Buying and Selling

In related news, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the completion of the sale, the insider now owns 6,378,105 shares of the company's stock, valued at approximately $4,093,595,351.10. The trade was a 1.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Mark P. Notarainni sold 3,649 shares of Intuit stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $646.68, for a total transaction of $2,359,735.32. Following the sale, the executive vice president now directly owns 19 shares of the company's stock, valued at $12,286.92. The trade was a 99.48 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 293,014 shares of company stock valued at $188,992,187. Company insiders own 2.68% of the company's stock.

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.