Intuit Inc. (NASDAQ:INTU) Stock Position Lifted by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S grew its position in Intuit Inc. (NASDAQ:INTU) by 42.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,487 shares of the software maker’s stock after acquiring an additional 5,796 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Intuit were worth $4,482,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Lannebo Fonder AB lifted its stake in Intuit by 26.0% during the first quarter. Lannebo Fonder AB now owns 77,500 shares of the software maker’s stock worth $17,825,000 after purchasing an additional 16,000 shares during the last quarter. Mutual of America Capital Management LLC increased its stake in Intuit by 0.6% during the first quarter. Mutual of America Capital Management LLC now owns 35,486 shares of the software maker’s stock valued at $8,162,000 after purchasing an additional 195 shares during the last quarter. Flossbach Von Storch AG raised its holdings in shares of Intuit by 63.0% during the first quarter. Flossbach Von Storch AG now owns 65,700 shares of the software maker’s stock worth $15,111,000 after purchasing an additional 25,400 shares during the period. Cigna Investments Inc. New raised its holdings in shares of Intuit by 3.5% during the first quarter. Cigna Investments Inc. New now owns 13,693 shares of the software maker’s stock worth $3,150,000 after purchasing an additional 460 shares during the period. Finally, RMB Capital Management LLC lifted its position in shares of Intuit by 57.8% in the 1st quarter. RMB Capital Management LLC now owns 1,493 shares of the software maker’s stock worth $344,000 after buying an additional 547 shares during the last quarter. Institutional investors and hedge funds own 86.39% of the company’s stock.

Intuit stock traded down $2.39 during trading hours on Friday, hitting $287.61. 1,738,172 shares of the company traded hands, compared to its average volume of 1,095,271. Intuit Inc. has a 1-year low of $187.68 and a 1-year high of $306.89. The firm has a market cap of $75.54 billion, a P/E ratio of 56.73, a P/E/G ratio of 3.89 and a beta of 1.05. The firm’s 50-day simple moving average is $262.98 and its two-hundred day simple moving average is $266.23. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.10.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, May 21st. The software maker reported $4.49 EPS for the quarter, missing the Zacks’ consensus estimate of $4.60 by ($0.11). The company had revenue of $3 billion for the quarter, compared to analyst estimates of $3 billion. Intuit had a net margin of 19.50% and a return on equity of 34.27%. Intuit’s revenue was down 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.55 EPS. On average, equities research analysts predict that Intuit Inc. will post 5.85 earnings per share for the current year.

Several equities research analysts recently weighed in on INTU shares. Citigroup increased their price objective on shares of Intuit from $272.00 to $292.00 and gave the stock a “neutral” rating in a research note on Friday. Morgan Stanley increased their price target on Intuit from $277.00 to $290.00 and gave the stock an “equal weight” rating in a research report on Friday. Credit Suisse Group raised their price target on Intuit from $300.00 to $310.00 in a report on Tuesday, February 25th. UBS Group upped their price objective on Intuit from $285.00 to $303.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. Finally, Mizuho increased their target price on Intuit from $280.00 to $330.00 and gave the stock a “buy” rating in a research report on Friday. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Intuit currently has an average rating of “Buy” and an average target price of $306.00.

About Intuit

Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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