Great West Life Assurance Co. Can raised its holdings in Intuit Inc. (NASDAQ:INTU) by 18.1% during the first quarter, Holdings Channel reports. The institutional investor owned 320,149 shares of the software maker’s stock after buying an additional 49,041 shares during the quarter. Great West Life Assurance Co. Can’s holdings in Intuit were worth $83,545,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Vanguard Group Inc lifted its stake in shares of Intuit by 3.9% in the 3rd quarter. Vanguard Group Inc now owns 18,997,220 shares of the software maker’s stock valued at $4,319,968,000 after purchasing an additional 704,771 shares during the period. Shine Investment Advisory Services Inc. lifted its stake in shares of Intuit by 13.0% in the 4th quarter. Shine Investment Advisory Services Inc. now owns 863 shares of the software maker’s stock valued at $170,000 after purchasing an additional 99 shares during the period. Strs Ohio lifted its stake in shares of Intuit by 13.4% in the 4th quarter. Strs Ohio now owns 377,624 shares of the software maker’s stock valued at $74,335,000 after purchasing an additional 44,537 shares during the period. IFM Investors Pty Ltd lifted its stake in shares of Intuit by 10.7% in the 4th quarter. IFM Investors Pty Ltd now owns 14,085 shares of the software maker’s stock valued at $2,773,000 after purchasing an additional 1,367 shares during the period. Finally, Dowling & Yahnke LLC lifted its stake in shares of Intuit by 0.7% in the 4th quarter. Dowling & Yahnke LLC now owns 14,219 shares of the software maker’s stock valued at $3,050,000 after purchasing an additional 93 shares during the period. Hedge funds and other institutional investors own 87.60% of the company’s stock.
A number of research analysts have recently commented on INTU shares. Credit Suisse Group restated an “outperform” rating and issued a $255.00 target price (up previously from $250.00) on shares of Intuit in a research note on Tuesday, January 22nd. Zacks Investment Research cut Intuit from a “buy” rating to a “hold” rating in a research note on Wednesday, January 23rd. Goldman Sachs Group restated a “neutral” rating and issued a $212.00 target price on shares of Intuit in a research note on Friday, February 1st. Morgan Stanley upgraded Intuit from an “underweight” rating to an “equal weight” rating and set a $225.00 target price for the company in a research note on Monday, February 4th. Finally, BidaskClub upgraded Intuit from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 13th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Intuit currently has an average rating of “Hold” and an average target price of $243.26.
In other Intuit news, VP Mark J. Flournoy sold 5,939 shares of Intuit stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $251.18, for a total value of $1,491,758.02. Following the completion of the sale, the vice president now owns 3,626 shares of the company’s stock, valued at approximately $910,778.68. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Laura A. Fennell sold 67,488 shares of Intuit stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $251.43, for a total value of $16,968,507.84. Following the completion of the sale, the executive vice president now directly owns 95,102 shares of the company’s stock, valued at approximately $23,911,495.86. The disclosure for this sale can be found here. In the last three months, insiders sold 90,609 shares of company stock valued at $22,757,853. Corporate insiders own 4.60% of the company’s stock.
NASDAQ:INTU traded up $0.52 during trading hours on Wednesday, reaching $246.60. 1,211 shares of the company traded hands, compared to its average volume of 1,522,110. The stock has a market capitalization of $62.47 billion, a price-to-earnings ratio of 54.36, a PEG ratio of 2.86 and a beta of 1.14. Intuit Inc. has a 1 year low of $182.61 and a 1 year high of $272.14. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.13.
Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, February 21st. The software maker reported $1.00 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.44. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Intuit had a return on equity of 53.70% and a net margin of 22.89%. During the same quarter in the previous year, the business earned $0.35 earnings per share. As a group, equities research analysts predict that Intuit Inc. will post 5.3 EPS for the current year.
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Intuit Company Profile
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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