Intuit Inc. (NASDAQ:INTU) Shares Acquired by Cerity Partners LLC

Cerity Partners LLC lifted its position in Intuit Inc. (NASDAQ:INTU) by 17.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 154,005 shares of the software maker’s stock after purchasing an additional 22,884 shares during the period. Cerity Partners LLC owned about 0.05% of Intuit worth $95,637,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in INTU. Legal & General Group Plc raised its stake in shares of Intuit by 1.0% during the 2nd quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker’s stock worth $1,538,236,000 after buying an additional 23,995 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Intuit by 1.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,688,445 shares of the software maker’s stock valued at $1,048,524,000 after purchasing an additional 26,914 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Intuit by 17.3% during the second quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock worth $1,062,578,000 after purchasing an additional 238,486 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Intuit by 4.2% during the 2nd quarter. Principal Financial Group Inc. now owns 1,407,862 shares of the software maker’s stock worth $925,262,000 after purchasing an additional 56,370 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Intuit by 10.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,014,972 shares of the software maker’s stock worth $630,298,000 after buying an additional 98,406 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Trading Down 5.7 %

Intuit stock 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 has a market capitalization of $179.31 billion, a PE ratio of 62.15, a PEG ratio of 3.32 and a beta of 1.25. The business’s 50-day simple moving average is $634.81 and its 200-day simple moving average is $631.27. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data 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. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.28%. The company’s revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the business posted $1.14 earnings per share. Equities research analysts forecast that Intuit Inc. will post 14.05 earnings per share for the current year.

Insider Activity at Intuit

In other news, insider Scott D. Cook sold 2,461 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total value of $1,568,124.59. Following the sale, the insider now directly owns 6,453,105 shares in the company, valued at approximately $4,111,853,974.95. This trade represents a 0.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Sandeep Aujla sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the completion of the transaction, the chief financial officer now owns 452 shares of the company’s stock, valued at approximately $279,010.56. This trade represents a 89.85 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,297 shares of company stock valued at $35,220,046. 2.90% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Stifel Nicolaus decreased 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. Bank of America boosted their target price on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. StockNews.com lowered shares of Intuit from a “buy” rating to a “hold” rating in a research note on Friday. Morgan Stanley upped their price target on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a report on Friday. Finally, Jefferies Financial Group lifted their price objective on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and an average target price of $737.44.

Intuit Company 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.