Westpac Banking Corp lessened its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 12.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 33,488 shares of the software maker’s stock after selling 4,678 shares during the quarter. Westpac Banking Corp’s holdings in Intuit were worth $10,924,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in INTU. BlackRock Inc. increased its position in Intuit by 4.1% in the 2nd quarter. BlackRock Inc. now owns 23,085,334 shares of the software maker’s stock worth $6,837,643,000 after purchasing an additional 916,632 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Intuit by 47.1% during the 3rd quarter. Wells Fargo & Company MN now owns 1,715,738 shares of the software maker’s stock valued at $559,693,000 after purchasing an additional 549,117 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of Intuit by 116.2% in the second quarter. Nordea Investment Management AB now owns 893,754 shares of the software maker’s stock valued at $259,572,000 after buying an additional 480,331 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Intuit by 30.8% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,752,372 shares of the software maker’s stock worth $518,148,000 after acquiring an additional 412,257 shares during the last quarter. Finally, Intermede Investment Partners Ltd acquired a new position in shares of Intuit in the 3rd quarter valued at $73,724,000. 85.52% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have weighed in on INTU shares. Jefferies Financial Group boosted their price target on Intuit from $340.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, August 26th. Argus increased their price objective on Intuit from $325.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, August 27th. Wells Fargo & Company lifted their price target on shares of Intuit from $380.00 to $400.00 and gave the company an “overweight” rating in a research report on Friday. Citigroup increased their price objective on shares of Intuit from $292.00 to $362.00 and gave the stock a “neutral” rating in a research note on Thursday, August 27th. Finally, Stifel Nicolaus upped their price objective on Intuit from $300.00 to $405.00 and gave the stock a “buy” rating in a research report on Wednesday, August 26th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have given a buy rating to the company. Intuit presently has a consensus rating of “Buy” and a consensus price target of $374.28.
Shares of NASDAQ INTU opened at $347.69 on Friday. Intuit Inc. has a 12 month low of $187.68 and a 12 month high of $377.15. The company has a current ratio of 2.26, a quick ratio of 2.26 and a debt-to-equity ratio of 0.40. The stock has a market cap of $91.03 billion, a price-to-earnings ratio of 50.24, a PEG ratio of 3.33 and a beta of 0.99. The company has a 50 day simple moving average of $338.89 and a two-hundred day simple moving average of $311.04.
Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Wednesday, November 18th. The software maker reported $0.94 EPS for the quarter, beating the consensus estimate of $0.04 by $0.90. Intuit had a return on equity of 40.79% and a net margin of 23.78%. During the same period last year, the company earned $0.55 EPS. Analysts forecast that Intuit Inc. will post 7.11 EPS for the current year.
In other news, EVP Gregory N. Johnson sold 3,069 shares of Intuit stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $341.96, for a total transaction of $1,049,475.24. Following the completion of the sale, the executive vice president now directly owns 13,192 shares of the company’s stock, valued at approximately $4,511,136.32. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sasan K. Goodarzi sold 161,258 shares of the company’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $345.66, for a total value of $55,740,440.28. Following the transaction, the chief executive officer now directly owns 154,306 shares of the company’s stock, valued at $53,337,411.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 244,742 shares of company stock worth $83,471,109. 4.09% of the stock is owned by corporate insiders.
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 three segments: Small Business & Self-Employed, Consumer, and Strategic Partner.
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