Allworth Financial LP Acquires 50 Shares of Intuit Inc. (NASDAQ:INTU)

Allworth Financial LP increased its holdings in Intuit Inc. (NASDAQ:INTU) by 1.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,927 shares of the software maker’s stock after purchasing an additional 50 shares during the quarter. Allworth Financial LP’s holdings in Intuit were worth $1,790,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp grew its position in shares of Intuit by 1.8% in the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after buying an additional 221,885 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Intuit by 1.4% in 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 acquiring an additional 80,463 shares during the period. Fisher Asset Management LLC boosted its holdings in Intuit by 2.9% in the third quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock valued at $2,376,984,000 after acquiring an additional 107,482 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Intuit by 4.0% during the 3rd 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 valued at $1,428,790,000 after purchasing an additional 87,517 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Intuit by 1.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,688,445 shares of the software maker’s stock worth $1,048,524,000 after purchasing an additional 26,914 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Stock Performance

Shares of INTU opened at $579.94 on Wednesday. The firm has a market capitalization of $162.34 billion, a P/E ratio of 56.30, a P/E/G ratio of 2.91 and a beta of 1.24. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78. The stock has a 50 day moving average price of $619.03 and a two-hundred day moving average price of $629.49. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. Intuit’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.14 EPS. Equities analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on INTU. Scotiabank started coverage on shares of Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $760.00 price target on shares of Intuit in a report on Friday, November 22nd. Morgan Stanley boosted their price objective on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research note on Friday, November 22nd. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, Stifel Nicolaus dropped their price target on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Intuit currently has an average rating of “Moderate Buy” and a consensus target price of $726.53.

Insider Activity at Intuit

In related news, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction on Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the sale, the chief accounting officer now directly owns 1,864 shares in the company, valued at approximately $1,154,337.92. This trade represents a 36.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $641.82, for a total value of $48,136,500.00. Following the completion of the transaction, the insider now directly owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. This represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 293,014 shares of company stock valued at $188,992,187 over the last ninety days. Corporate 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.