Moors & Cabot Inc. Has $408,000 Stock Position in Intuit Inc. (NASDAQ:INTU)

Moors & Cabot Inc. raised its position in Intuit Inc. (NASDAQ:INTU) by 6.1% in the third quarter, HoldingsChannel reports. The fund owned 657 shares of the software maker’s stock after purchasing an additional 38 shares during the quarter. Moors & Cabot Inc.’s holdings in Intuit were worth $408,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of INTU. LGT Financial Advisors LLC acquired a new stake in Intuit in the 2nd quarter valued at $25,000. Cultivar Capital Inc. bought a new position in shares of Intuit in the second quarter valued at $26,000. Fairway Wealth LLC acquired a new position in shares of Intuit during the second quarter valued at about $26,000. Northwest Investment Counselors LLC bought a new stake in shares of Intuit during the third quarter worth about $27,000. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Intuit in the 2nd quarter worth about $35,000. Institutional investors own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on INTU shares. Jefferies Financial Group lifted their price target on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday. Royal Bank of Canada reiterated an “outperform” rating and set a $760.00 price target on shares of Intuit in a report on Friday. Oppenheimer increased their price target on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research report on Friday. Piper Sandler cut their price objective on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a report on Friday. Finally, Stifel Nicolaus lowered their target price on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and a consensus price target of $737.44.

Insider Activity

In other news, insider Scott D. Cook sold 2,461 shares of Intuit stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total value of $1,568,124.59. Following the completion of the transaction, the insider now directly owns 6,453,105 shares in the company, valued at approximately $4,111,853,974.95. The trade was a 0.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Alex G. Balazs sold 2,941 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total value of $1,849,183.16. Following the sale, the executive vice president now directly owns 20 shares in the company, valued at $12,575.20. This trade represents a 99.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,297 shares of company stock valued at $35,220,046 over the last quarter. Company insiders own 2.90% of the company’s stock.

Intuit Price Performance

Shares of NASDAQ INTU opened at $640.12 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The stock has a fifty day simple moving average of $634.81 and a two-hundred day simple moving average of $631.20. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78. The firm has a market cap of $179.31 billion, a price-to-earnings ratio of 62.15, a price-to-earnings-growth ratio of 3.32 and a beta of 1.25.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.14. Intuit had a return on equity of 18.28% and a net margin of 17.59%. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the prior year, the company earned $1.14 EPS. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. Analysts anticipate that Intuit Inc. will post 14.05 earnings per share for the current year.

Intuit 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.