Intuit Inc. (NASDAQ:INTU) is LGT Capital Partners LTD.’s 8th Largest Position

LGT Capital Partners LTD. cut its stake in shares of Intuit Inc. (NASDAQ:INTU) by 14.5% during the third quarter, HoldingsChannel.com reports. The fund owned 170,866 shares of the software maker’s stock after selling 29,059 shares during the quarter. Intuit makes up approximately 3.7% of LGT Capital Partners LTD.’s investment portfolio, making the stock its 8th biggest holding. LGT Capital Partners LTD.’s holdings in Intuit were worth $106,108,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of INTU. Fifth Third Wealth Advisors LLC grew its holdings in Intuit by 1.8% in the third quarter. Fifth Third Wealth Advisors LLC now owns 2,909 shares of the software maker’s stock worth $1,807,000 after purchasing an additional 51 shares during the last quarter. Wrapmanager Inc. raised its stake in shares of Intuit by 154.7% during the 3rd quarter. Wrapmanager Inc. now owns 922 shares of the software maker’s stock valued at $573,000 after buying an additional 560 shares during the last quarter. Prospera Financial Services Inc boosted its position in Intuit by 1.8% in the 3rd quarter. Prospera Financial Services Inc now owns 1,008 shares of the software maker’s stock worth $626,000 after purchasing an additional 18 shares in the last quarter. Meeder Asset Management Inc. raised its position in shares of Intuit by 1.2% in the third quarter. Meeder Asset Management Inc. now owns 3,261 shares of the software maker’s stock worth $2,025,000 after acquiring an additional 40 shares during the period. Finally, OneAscent Financial Services LLC purchased a new position in Intuit during the third quarter worth approximately $447,000. 83.66% of the stock is owned by institutional investors.

Intuit Stock Performance

Shares of INTU stock opened at $678.81 on Tuesday. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The stock’s 50-day moving average price is $634.11 and its 200 day moving average price is $630.65. The stock has a market capitalization of $190.26 billion, a PE ratio of 64.96, a price-to-earnings-growth ratio of 3.36 and a beta of 1.25.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping the consensus estimate of $1.85 by $0.14. The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The business’s revenue was up 17.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.40 EPS. As a group, equities research analysts forecast that Intuit Inc. will post 14.05 EPS for the current year.

Insider Activity at Intuit

In other Intuit news, EVP Alex G. Balazs sold 2,941 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total value of $1,849,183.16. Following the completion of the transaction, the executive vice president now directly owns 20 shares of the company’s stock, valued at $12,575.20. This represents a 99.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Sandeep Aujla sold 862 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total transaction of $535,327.86. Following the transaction, the chief financial officer now directly owns 3,840 shares of the company’s stock, valued at approximately $2,384,755.20. This represents a 18.33 % 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 valued at $35,220,046. Company insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on INTU shares. Barclays increased their target price on Intuit from $740.00 to $800.00 and gave the company an “overweight” rating in a report on Friday. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a report on Monday, September 30th. Scotiabank started coverage on shares of Intuit in a research report on Monday. They set a “sector perform” rating and a $700.00 price objective for the company. JPMorgan Chase & Co. increased their price target on shares of Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Finally, Piper Sandler reissued an “overweight” rating and set a $768.00 target price on shares of Intuit in a research note on Friday, September 27th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $737.06.

Intuit 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.