Intuit Inc. (NASDAQ:INTU) Shares Bought by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd grew its holdings in Intuit Inc. (NASDAQ:INTU) by 33.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,877 shares of the software maker’s stock after acquiring an additional 3,198 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Intuit were worth $7,995,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Dynamic Technology Lab Private Ltd purchased a new stake in Intuit during the 3rd quarter worth about $1,291,000. Fisher Asset Management LLC boosted its stake in shares of Intuit by 2.9% in the 3rd quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock valued at $2,376,984,000 after buying an additional 107,482 shares during the period. Daiwa Securities Group Inc. increased its stake in shares of Intuit by 11.9% during the third quarter. Daiwa Securities Group Inc. now owns 66,368 shares of the software maker’s stock worth $41,214,000 after buying an additional 7,075 shares during the period. Summit Trail Advisors LLC increased its stake in shares of Intuit by 4.0% during the third quarter. Summit Trail Advisors LLC now owns 4,175 shares of the software maker’s stock worth $2,593,000 after buying an additional 162 shares during the period. Finally, Larson Financial Group LLC raised its holdings in Intuit by 38.2% in the third quarter. Larson Financial Group LLC now owns 300 shares of the software maker’s stock valued at $186,000 after acquiring an additional 83 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Transactions at Intuit

In other news, CFO Sandeep Aujla sold 862 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total transaction of $535,327.86. Following the transaction, the chief financial officer now directly owns 3,840 shares of the company’s stock, valued at $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 available through this hyperlink. Also, insider Scott D. Cook sold 2,461 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the completion of the sale, the insider now owns 6,453,105 shares of the company’s stock, valued at $4,111,853,974.95. This trade represents a 0.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,265 shares of company stock worth $35,200,125 over the last 90 days. 2.90% of the stock is currently owned by insiders.

Intuit Trading Down 5.7 %

NASDAQ INTU opened at $640.12 on Monday. The firm’s fifty day moving average is $634.81 and its two-hundred day moving average is $631.19. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market cap of $179.26 billion, a PE ratio of 62.15, a P/E/G ratio of 3.13 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 (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter in the previous year, the firm posted $1.14 EPS. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. Analysts expect that Intuit Inc. will post 14.05 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have commented on INTU shares. JPMorgan Chase & Co. boosted their price target on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday. Royal Bank of Canada reissued an “outperform” rating and issued a $760.00 target price on shares of Intuit in a report on Friday. Stifel Nicolaus cut their price target on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday. Jefferies Financial Group increased their price objective on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday. Finally, Piper Sandler cut their target price on Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a research report on Friday. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and an average price target of $737.44.

About Intuit

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.