Caprock Group LLC Raises Stock Position in Intuit Inc. (NASDAQ:INTU)

Caprock Group LLC grew its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 0.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 7,066 shares of the software maker’s stock after purchasing an additional 19 shares during the period. Caprock Group LLC’s holdings in Intuit were worth $4,388,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of INTU. Ontario Teachers Pension Plan Board bought a new position in shares of Intuit in the first quarter worth about $1,075,000. Bessemer Group Inc. grew its holdings in shares of Intuit by 14.2% in the first quarter. Bessemer Group Inc. now owns 19,676 shares of the software maker’s stock worth $12,790,000 after purchasing an additional 2,450 shares during the last quarter. MQS Management LLC bought a new position in Intuit in the first quarter worth approximately $294,000. Crewe Advisors LLC bought a new position in shares of Intuit during the 1st quarter worth $505,000. Finally, Mattern Capital Management LLC bought a new stake in Intuit during the 1st quarter valued at $396,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Trading Down 1.3 %

INTU stock opened at $678.81 on Tuesday. The business has a fifty day moving average of $634.11 and a 200-day moving average of $630.65. The company has a market cap of $190.26 billion, a P/E ratio of 64.96, a PEG ratio of 3.36 and a beta of 1.25. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. Intuit’s revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.40 earnings per share. As a group, equities research analysts expect that Intuit Inc. will post 14.05 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on INTU. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. Susquehanna restated a “positive” rating and issued a $757.00 price target on shares of Intuit in a research report on Friday, August 16th. Barclays increased their price objective on Intuit from $740.00 to $800.00 and gave the stock an “overweight” rating in a research report on Friday. Jefferies Financial Group upped their target price on shares of Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and an average price target of $737.06.

Insiders Place Their Bets

In other news, CFO Sandeep Aujla sold 775 shares of the stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total value of $466,015.25. Following the completion of the transaction, the chief financial officer now directly owns 4,451 shares in the company, valued at approximately $2,676,430.81. This represents a 14.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kerry J. Mclean sold 11,079 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total value of $6,997,607.19. Following the completion of the transaction, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at $15,752,985.01. This represents a 30.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,297 shares of company stock worth $35,220,046 over the last three months. Insiders own 2.90% of the company’s stock.

Intuit Company Profile

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 four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.