Waverton Investment Management Ltd Increases Stake in Intuit Inc. (NASDAQ:INTU)

Waverton Investment Management Ltd lifted its stake in Intuit Inc. (NASDAQ:INTU) by 2.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 263,413 shares of the software maker’s stock after buying an additional 6,776 shares during the quarter. Intuit accounts for approximately 2.6% of Waverton Investment Management Ltd’s holdings, making the stock its 20th largest position. Waverton Investment Management Ltd’s holdings in Intuit were worth $165,600,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. R Squared Ltd purchased a new position in Intuit during the 4th quarter valued at approximately $25,000. Heck Capital Advisors LLC bought a new position in shares of Intuit during the 4th quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Intuit in the fourth quarter valued at $28,000. Sugar Maple Asset Management LLC bought a new stake in Intuit in the fourth quarter worth $29,000. Finally, Denver PWM LLC purchased a new stake in Intuit during the third quarter valued at $32,000. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Down 2.4 %

Shares of INTU opened at $565.47 on Monday. The firm has a fifty day moving average price of $612.23 and a 200-day moving average price of $628.49. 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 firm has a market capitalization of $158.28 billion, a P/E ratio of 54.90, a P/E/G ratio of 2.85 and a beta of 1.24. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78.

Intuit (NASDAQ:INTU) last released its quarterly earnings data 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. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.14 EPS. Equities research analysts expect that Intuit Inc. will post 14.09 earnings per share for the current year.

Insider Activity

In other Intuit news, insider Scott D. Cook sold 73,655 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $664.94, for a total transaction of $48,976,155.70. Following the transaction, the insider now directly owns 6,301,286 shares in the company, valued at $4,189,977,112.84. This trade represents a 1.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Sandeep Aujla sold 109 shares of Intuit stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total value of $68,506.50. Following the sale, the chief financial officer now directly owns 1,944 shares of the company’s stock, valued at approximately $1,221,804. This trade represents a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 218,014 shares of company stock valued at $140,855,687. Corporate insiders own 2.68% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Piper Sandler reissued an “overweight” rating and issued a $765.00 price objective on shares of Intuit in a research note on Friday, January 10th. BNP Paribas lowered Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target for the company. in a research report on Wednesday, January 15th. Jefferies Financial Group upped their price objective on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $760.00 price objective on shares of Intuit in a research note on Friday, November 22nd. Finally, Stifel Nicolaus cut their target price on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $726.71.

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.