Whittier Trust Co. reduced its stake in shares of Intuit Inc. (NASDAQ:INTU) by 5.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,742 shares of the software maker’s stock after selling 161 shares during the period. Whittier Trust Co.’s holdings in Intuit were worth $364,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of the stock. BlackRock Inc. increased its stake in shares of Intuit by 1,542.9% in the first quarter. BlackRock Inc. now owns 17,363,857 shares of the software maker’s stock valued at $2,014,036,000 after buying an additional 16,306,976 shares in the last quarter. Vanguard Group Inc. increased its position in Intuit by 2.2% in the first quarter. Vanguard Group Inc. now owns 16,373,494 shares of the software maker’s stock worth $1,899,162,000 after buying an additional 359,330 shares during the period. Morgan Stanley increased its position in Intuit by 38.5% in the first quarter. Morgan Stanley now owns 3,478,799 shares of the software maker’s stock worth $403,505,000 after buying an additional 966,936 shares during the period. Janus Capital Management LLC increased its position in Intuit by 5.4% in the first quarter. Janus Capital Management LLC now owns 2,694,993 shares of the software maker’s stock worth $312,593,000 after buying an additional 138,184 shares during the period. Finally, Geode Capital Management LLC increased its position in Intuit by 7.8% in the first quarter. Geode Capital Management LLC now owns 2,686,750 shares of the software maker’s stock worth $311,244,000 after buying an additional 194,751 shares during the period. Institutional investors own 85.18% of the company’s stock.
Intuit Inc. (INTU) traded down 0.26% during mid-day trading on Friday, reaching $134.11. 1,306,185 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $135.05 and its 200 day moving average price is $128.38. Intuit Inc. has a one year low of $103.22 and a one year high of $143.81. The firm has a market cap of $34.36 billion, a price-to-earnings ratio of 38.54 and a beta of 1.15.
Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Tuesday, May 23rd. The software maker reported $3.90 EPS for the quarter, topping analysts’ consensus estimates of $3.87 by $0.03. Intuit had a net margin of 17.82% and a return on equity of 80.88%. The business had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same period last year, the company posted $3.43 EPS. The business’s revenue was up 10.3% on a year-over-year basis. On average, equities analysts forecast that Intuit Inc. will post $4.39 EPS for the current year.
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A number of research firms have issued reports on INTU. Stifel Nicolaus lifted their price target on Intuit from $115.00 to $132.00 and gave the company a “hold” rating in a research note on Wednesday, May 24th. Credit Suisse Group lifted their price target on Intuit from $120.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, May 25th. Citigroup Inc. downgraded Intuit from a “buy” rating to a “neutral” rating and cut their target price for the stock from $148.00 to $141.00 in a research note on Monday, June 26th. Royal Bank Of Canada boosted their target price on shares of Intuit from $126.00 to $140.00 and gave the company a “sector perform” rating in a report on Wednesday, May 24th. Finally, CIBC upped their price target on shares of Intuit from $125.00 to $141.00 and gave the stock an “outperform” rating in a report on Friday, May 26th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the stock. Intuit has an average rating of “Buy” and an average price target of $135.63.
In other Intuit news, Director Dennis D. Powell sold 16,686 shares of Intuit stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $136.82, for a total value of $2,282,978.52. Following the completion of the transaction, the director now directly owns 4,554 shares of the company’s stock, valued at approximately $623,078.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Henry Tayloe Stansbury sold 1,871 shares of Intuit stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $135.29, for a total transaction of $253,127.59. The disclosure for this sale can be found here. Insiders sold a total of 151,265 shares of company stock valued at $21,085,104 over the last three months. Corporate insiders own 5.70% of the company’s stock.
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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