Summit Trail Advisors LLC Boosts Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Summit Trail Advisors LLC grew its position in Intuit Inc. (NASDAQ:INTU) by 4.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,175 shares of the software maker’s stock after purchasing an additional 162 shares during the period. Summit Trail Advisors LLC’s holdings in Intuit were worth $2,593,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Legal & General Group Plc lifted its position in shares of Intuit by 1.0% during the 2nd quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker’s stock worth $1,538,236,000 after buying an additional 23,995 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in 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. Ameriprise Financial Inc. boosted its position in Intuit by 17.3% in the second quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock worth $1,062,578,000 after purchasing an additional 238,486 shares during the last quarter. Principal Financial Group Inc. grew its stake in Intuit by 4.2% in the 2nd quarter. Principal Financial Group Inc. now owns 1,407,862 shares of the software maker’s stock valued at $925,262,000 after purchasing an additional 56,370 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Intuit by 10.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,014,972 shares of the software maker’s stock valued at $630,298,000 after purchasing an additional 98,406 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Insider Buying and Selling at Intuit

In other news, insider Scott D. Cook sold 2,461 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total value of $1,568,124.59. Following the completion of the sale, the insider now directly owns 6,453,105 shares in the company, valued at $4,111,853,974.95. The trade was a 0.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Sandeep Aujla sold 775 shares of the company’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total transaction of $466,015.25. Following the transaction, the chief financial officer now owns 4,451 shares of the company’s stock, valued at approximately $2,676,430.81. This trade represents a 14.83 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,265 shares of company stock valued at $35,200,125. 2.90% of the stock is owned by insiders.

Intuit Stock Performance

Shares of INTU opened at $640.12 on Monday. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. The stock has a fifty day moving average price of $634.81 and a 200-day moving average price of $631.19. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm has a market cap of $179.26 billion, a PE ratio of 62.15, a P/E/G ratio of 3.13 and a beta of 1.25.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results 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. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter last year, the company earned $1.14 earnings per share. The company’s quarterly revenue was up 10.2% on a year-over-year basis. Equities research analysts predict that Intuit Inc. will post 14.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on the company. JPMorgan Chase & Co. boosted their target price on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research note on Friday. Morgan Stanley upped their price objective on shares of Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a report on Friday. StockNews.com downgraded shares of Intuit from a “buy” rating to a “hold” rating in a research note on Friday. Susquehanna reissued a “positive” rating and issued a $757.00 price target on shares of Intuit in a research report on Friday, August 16th. Finally, Oppenheimer raised their price objective on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Intuit has a consensus rating of “Moderate Buy” and a consensus target price of $737.44.

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.