Private Advisor Group LLC Increases Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Private Advisor Group LLC boosted its position in Intuit Inc. (NASDAQ:INTU) by 6.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,998 shares of the software maker’s stock after purchasing an additional 581 shares during the period. Private Advisor Group LLC’s holdings in Intuit were worth $5,655,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of INTU. Holocene Advisors LP boosted its position in Intuit by 99.6% in the third quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock worth $388,487,000 after purchasing an additional 312,212 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of Intuit by 83.2% during the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after buying an additional 268,060 shares in the last quarter. State Street Corp lifted its position in shares of Intuit by 1.8% during 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 in the last quarter. Union Bancaire Privee UBP SA purchased a new position in shares of Intuit during the 4th quarter valued at about $104,278,000. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of Intuit by 85.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 358,834 shares of the software maker’s stock valued at $222,836,000 after buying an additional 165,805 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on INTU shares. Redburn Atlantic started coverage on Intuit in a research report on Wednesday. They set a “neutral” rating on the stock. Barclays lowered their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $760.00 price objective on shares of Intuit in a research report on Friday, November 22nd. BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective on the stock. in a research report on Wednesday, January 15th. Finally, Morgan Stanley lifted their target price on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, Intuit presently has an average rating of “Moderate Buy” and a consensus price target of $726.53.

Intuit Stock Performance

NASDAQ:INTU opened at $565.47 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78. The stock’s 50 day simple moving average is $612.23 and its two-hundred day simple moving average is $628.35. The company has a market cap of $158.28 billion, a price-to-earnings ratio of 54.90, a PEG ratio of 2.85 and a beta of 1.24.

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

Insider Activity

In other news, EVP Alex G. Balazs sold 23,810 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the transaction, the executive vice president now owns 489 shares of the company’s stock, valued at approximately $325,664.22. The trade was a 97.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Sandeep Aujla sold 109 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total value of $68,506.50. Following the transaction, the chief financial officer now directly owns 1,944 shares in the company, valued at approximately $1,221,804. This represents a 5.31 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 293,014 shares of company stock valued at $188,992,187. 2.68% of the stock is currently owned by insiders.

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.