Intuit Inc. (NASDAQ:INTU) Shares Sold by Pittenger & Anderson Inc.

Pittenger & Anderson Inc. trimmed its position in shares of Intuit Inc. (NASDAQ:INTU) by 45.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,028 shares of the software maker’s stock after selling 1,713 shares during the period. Pittenger & Anderson Inc.’s holdings in Intuit were worth $1,275,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of INTU. Creative Planning boosted its stake in Intuit by 5.6% during the 3rd quarter. Creative Planning now owns 53,552 shares of the software maker’s stock worth $33,256,000 after purchasing an additional 2,836 shares during the period. Stratos Wealth Partners LTD. grew its holdings in shares of Intuit by 3.5% during the third quarter. Stratos Wealth Partners LTD. now owns 8,977 shares of the software maker’s stock worth $5,575,000 after buying an additional 305 shares during the last quarter. Capital Investment Advisors LLC increased its position in Intuit by 3.4% in the 3rd quarter. Capital Investment Advisors LLC now owns 2,089 shares of the software maker’s stock valued at $1,297,000 after acquiring an additional 69 shares during the period. Resonant Capital Advisors LLC purchased a new stake in Intuit during the 3rd quarter valued at approximately $211,000. Finally, Vest Financial LLC lifted its position in Intuit by 105.5% during the 3rd quarter. Vest Financial LLC now owns 2,357 shares of the software maker’s stock worth $1,464,000 after acquiring an additional 1,210 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Stock Performance

Shares of INTU opened at $587.38 on Tuesday. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78. The stock has a market cap of $164.42 billion, a P/E ratio of 57.03, a PEG ratio of 2.91 and a beta of 1.24. 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 company has a 50-day moving average of $620.21 and a two-hundred day moving average of $629.84.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.14. The firm had revenue of $3.28 billion during 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 quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.14 EPS. As a group, research analysts predict that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target for the company. in a research note on Wednesday, January 15th. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Jefferies Financial Group lifted their target price on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. increased their price target on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $765.00 price objective on shares of Intuit in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $726.53.

Insider Activity at Intuit

In other news, CAO Lauren D. Hotz sold 1,078 shares of the firm’s 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 owns 1,864 shares in the company, valued at $1,154,337.92. This trade represents a 36.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction on Monday, November 25th. The shares were 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 owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. The trade was a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 293,014 shares of company stock valued at $188,992,187 over the last quarter. Insiders own 2.68% of the company’s stock.

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.