Truepoint Inc. Sells 26 Shares of Intuit Inc. (NASDAQ:INTU)

Truepoint Inc. lessened its holdings in Intuit Inc. (NASDAQ:INTU) by 3.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 759 shares of the software maker’s stock after selling 26 shares during the period. Truepoint Inc.’s holdings in Intuit were worth $471,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of INTU. International Assets Investment Management LLC increased its position in Intuit by 68,404.7% during the third quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock valued at $300,768,000 after acquiring an additional 483,621 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in Intuit during the second quarter valued at $184,982,000. Ameriprise Financial Inc. increased its position in Intuit by 17.3% during the second quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock valued at $1,062,578,000 after acquiring an additional 238,486 shares during the last quarter. Clearbridge Investments LLC increased its position in Intuit by 21.3% during the second quarter. Clearbridge Investments LLC now owns 964,328 shares of the software maker’s stock valued at $633,766,000 after acquiring an additional 169,190 shares during the last quarter. Finally, Seven Post Investment Office LP bought a new position in Intuit during the second quarter valued at $107,513,000. Institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling

In other Intuit news, CFO Sandeep Aujla sold 862 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the sale, the chief financial officer now owns 3,840 shares in the company, valued at approximately $2,384,755.20. This represents a 18.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Kerry J. Mclean sold 11,079 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total value of $6,997,607.19. Following the completion of the sale, the executive vice president now owns 24,941 shares in the company, valued at approximately $15,752,985.01. This represents a 30.76 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,297 shares of company stock worth $35,220,046. 2.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

INTU has been the topic of a number of analyst reports. Stifel Nicolaus cut their price objective on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research report on Friday. Piper Sandler lowered their target price on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a research note on Friday. JPMorgan Chase & Co. boosted their target price on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research note on Friday. Barclays lowered their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Bank of America upped their price objective on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $737.44.

Intuit Stock Performance

INTU opened at $640.12 on Friday. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78. The firm’s 50-day moving average price is $634.81 and its 200-day moving average price is $631.20. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The company has a market cap of $179.31 billion, a P/E ratio of 62.15, a price-to-earnings-growth ratio of 3.32 and a beta of 1.25.

Intuit (NASDAQ:INTU) last issued 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 net margin of 17.59% and a return on equity of 18.28%. The company had revenue of $3.28 billion for 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. Intuit’s quarterly revenue was up 10.2% on a year-over-year basis. As a group, equities analysts anticipate that Intuit Inc. will post 14.05 EPS for the current fiscal 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.