Ieq Capital LLC Lowers Holdings in Intuit Inc. (NASDAQ:INTU)

Ieq Capital LLC decreased its stake in Intuit Inc. (NASDAQ:INTU) by 0.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,499 shares of the software maker’s stock after selling 79 shares during the quarter. Ieq Capital LLC’s holdings in Intuit were worth $13,512,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Brown Financial Advisors boosted its position in shares of Intuit by 0.9% during the third quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock worth $1,018,000 after buying an additional 15 shares during the period. Truvestments Capital LLC lifted its holdings in Intuit by 1.5% during the 3rd quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock worth $669,000 after buying an additional 16 shares during the last quarter. Chris Bulman Inc lifted its holdings in Intuit by 1.1% during the 3rd quarter. Chris Bulman Inc now owns 1,520 shares of the software maker’s stock worth $944,000 after buying an additional 17 shares during the last quarter. Mount Yale Investment Advisors LLC lifted its holdings in Intuit by 1.8% during the 3rd quarter. Mount Yale Investment Advisors LLC now owns 973 shares of the software maker’s stock worth $604,000 after buying an additional 17 shares during the last quarter. Finally, Freedom Day Solutions LLC lifted its holdings in Intuit by 0.4% during the 3rd quarter. Freedom Day Solutions LLC now owns 4,186 shares of the software maker’s stock worth $2,599,000 after buying an additional 17 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on INTU shares. Morgan Stanley lifted their price target on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. Redburn Atlantic initiated coverage on Intuit in a research report on Wednesday. They set a “neutral” rating on the stock. Oppenheimer lifted their target price on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Piper Sandler reiterated an “overweight” rating and set a $765.00 target price on shares of Intuit in a research report on Friday, January 10th. Finally, JPMorgan Chase & Co. lifted their target price on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Intuit has an average rating of “Moderate Buy” and an average price target of $726.53.

Intuit Stock Performance

NASDAQ INTU opened at $582.19 on Thursday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The business’s 50 day moving average is $615.92 and its two-hundred day moving average is $628.85. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78. The stock has a market capitalization of $162.97 billion, a price-to-earnings ratio of 56.52, a PEG ratio of 2.89 and a beta of 1.24.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping 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 company 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 quarterly revenue was up 10.2% on a year-over-year basis. Research analysts expect that Intuit Inc. will post 14.09 EPS for the current year.

Insiders Place Their Bets

In other news, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the sale, the insider now owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. The trade was a 1.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Alex G. Balazs sold 23,810 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total value of $15,856,983.80. Following the sale, the executive vice president now directly owns 489 shares in the company, valued at $325,664.22. This trade represents a 97.99 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 293,014 shares of company stock worth $188,992,187. Company insiders own 2.68% of the company’s stock.

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.