FineMark National Bank & Trust boosted its stake in Intuit Inc. (NASDAQ:INTU) by 0.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 2,716 shares of the software maker’s stock after buying an additional 11 shares during the period. FineMark National Bank & Trust’s holdings in Intuit were worth $361,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in INTU. Fox Run Management L.L.C. purchased a new position in shares of Intuit during the first quarter valued at about $522,000. Parametrica Management Ltd purchased a new position in shares of Intuit during the first quarter valued at about $580,000. Alpha Windward LLC boosted its position in shares of Intuit by 1.1% in the first quarter. Alpha Windward LLC now owns 2,287 shares of the software maker’s stock valued at $265,000 after buying an additional 25 shares during the period. Gradient Investments LLC purchased a new position in shares of Intuit during the first quarter valued at about $448,000. Finally, DAVENPORT & Co LLC boosted its stake in shares of Intuit by 2.8% in the first quarter. DAVENPORT & Co LLC now owns 244,185 shares of the software maker’s stock valued at $28,167,000 after buying an additional 6,611 shares during the period. 85.18% of the stock is currently owned by institutional investors.
Intuit Inc. (NASDAQ:INTU) opened at 134.11 on Friday. The company has a 50-day moving average price of $135.05 and a 200-day moving average price of $128.38. The stock has a market cap of $34.36 billion, a price-to-earnings ratio of 38.54 and a beta of 1.15. Intuit Inc. has a 52 week low of $103.22 and a 52 week high of $143.81.
Intuit (NASDAQ:INTU) last announced its earnings results on Tuesday, May 23rd. The software maker reported $3.90 EPS for the quarter, beating analysts’ consensus estimates of $3.87 by $0.03. The business had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Intuit had a net margin of 17.82% and a return on equity of 80.88%. The business’s revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the company earned $3.43 earnings per share. Equities research analysts anticipate that Intuit Inc. will post $4.39 EPS for the current year.
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INTU has been the topic of several recent research reports. BidaskClub cut Intuit from a “buy” rating to a “hold” rating in a research report on Thursday, June 29th. Barclays PLC reaffirmed a “hold” rating and set a $130.00 target price on shares of Intuit in a research report on Friday, April 28th. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $141.00 price objective (up previously from $125.00) on shares of Intuit in a report on Thursday, May 25th. Benchmark Co. started coverage on Intuit in a report on Thursday, April 27th. They set a “buy” rating and a $140.00 price objective for the company. Finally, Zacks Investment Research upgraded Intuit from a “sell” rating to a “buy” rating and set a $155.00 price objective for the company in a report on Monday, May 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $135.63.
In related news, EVP Henry Tayloe Stansbury sold 1,871 shares of the firm’s stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $135.29, for a total transaction of $253,127.59. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Daniel A. Wernikoff sold 15,684 shares of the firm’s stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $140.50, for a total transaction of $2,203,602.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 151,265 shares of company stock valued at $21,085,104. 5.70% of the stock is currently owned by corporate insiders.
Intuit Inc is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. The Company operates through three segments: Small Business, Consumer Tax and ProConnect. The Small Business segment serves and advises small businesses and the accounting professionals, and includes QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions.
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