Hancock Whitney Corp lessened its holdings in Intuit Inc. (NASDAQ:INTU) by 82.2% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 9,064 shares of the software maker’s stock after selling 41,862 shares during the period. Hancock Whitney Corp’s holdings in Intuit were worth $2,084,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also made changes to their positions in INTU. NEXT Financial Group Inc increased its holdings in Intuit by 3.0% in the 4th quarter. NEXT Financial Group Inc now owns 1,320 shares of the software maker’s stock valued at $346,000 after buying an additional 38 shares during the period. RFG Advisory LLC bought a new stake in shares of Intuit in the 4th quarter worth about $303,000. Mckinley Capital Management LLC Delaware grew its holdings in shares of Intuit by 0.9% in the 4th quarter. Mckinley Capital Management LLC Delaware now owns 6,478 shares of the software maker’s stock worth $1,697,000 after purchasing an additional 60 shares during the last quarter. Landsberg Bennett & Dubbaneh LLC bought a new stake in shares of Intuit in the 4th quarter worth about $471,000. Finally, Valeo Financial Advisors LLC grew its holdings in shares of Intuit by 134.8% in the 4th quarter. Valeo Financial Advisors LLC now owns 331 shares of the software maker’s stock worth $87,000 after purchasing an additional 190 shares during the last quarter. 86.39% of the stock is currently owned by hedge funds and other institutional investors.
Intuit stock opened at $287.61 on Friday. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.10. Intuit Inc. has a 1 year low of $187.68 and a 1 year high of $306.89. The company has a market cap of $75.54 billion, a PE ratio of 56.73, a PEG ratio of 3.89 and a beta of 1.05. The company’s 50-day moving average is $262.98 and its two-hundred day moving average is $266.23.
Intuit (NASDAQ:INTU) last released its earnings results on Thursday, May 21st. The software maker reported $4.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.60 by ($0.11). Intuit had a net margin of 19.50% and a return on equity of 34.27%. The business had revenue of $3 billion for the quarter, compared to analyst estimates of $3 billion. During the same quarter in the previous year, the company posted $5.55 earnings per share. The business’s revenue for the quarter was down 8.3% on a year-over-year basis. Research analysts forecast that Intuit Inc. will post 5.85 EPS for the current year.
Several equities research analysts have recently weighed in on the stock. Guggenheim reiterated a “” rating and set a $320.00 price target (up previously from $300.00) on shares of Intuit in a report on Friday. Credit Suisse Group upped their target price on shares of Intuit from $300.00 to $310.00 in a report on Tuesday, February 25th. Citigroup upped their target price on shares of Intuit from $272.00 to $292.00 and gave the stock a “neutral” rating in a report on Friday. Zacks Investment Research raised shares of Intuit from a “hold” rating to a “buy” rating and set a $265.00 target price on the stock in a report on Monday, April 13th. Finally, Jefferies Financial Group upped their price target on shares of Intuit from $320.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday. Two analysts have rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $306.00.
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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