Varma Mutual Pension Insurance Co Has $3.62 Million Position in Intuit Inc. (NASDAQ:INTU)

Varma Mutual Pension Insurance Co increased its holdings in shares of Intuit Inc. (NASDAQ:INTUGet Rating) by 99.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,387 shares of the software maker’s stock after acquiring an additional 4,674 shares during the period. Varma Mutual Pension Insurance Co’s holdings in Intuit were worth $3,618,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. IFM Investors Pty Ltd boosted its position in Intuit by 17.0% in the first quarter. IFM Investors Pty Ltd now owns 42,037 shares of the software maker’s stock valued at $20,213,000 after buying an additional 6,113 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in Intuit by 1.0% in the first quarter. Commonwealth Equity Services LLC now owns 37,657 shares of the software maker’s stock valued at $18,107,000 after buying an additional 371 shares in the last quarter. Victory Capital Management Inc. boosted its position in Intuit by 3.7% in the first quarter. Victory Capital Management Inc. now owns 196,063 shares of the software maker’s stock valued at $82,101,000 after buying an additional 7,057 shares in the last quarter. Clearstead Advisors LLC boosted its position in Intuit by 6.6% in the first quarter. Clearstead Advisors LLC now owns 2,138 shares of the software maker’s stock valued at $1,028,000 after buying an additional 133 shares in the last quarter. Finally, Advisor Group Holdings Inc. boosted its position in Intuit by 4.2% in the first quarter. Advisor Group Holdings Inc. now owns 60,830 shares of the software maker’s stock valued at $29,629,000 after buying an additional 2,464 shares in the last quarter. 83.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Intuit

In other news, CFO Michelle M. Clatterbuck sold 6,768 shares of the company’s stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $450.00, for a total value of $3,045,600.00. Following the completion of the transaction, the chief financial officer now owns 1,350 shares in the company, valued at $607,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Michelle M. Clatterbuck sold 6,768 shares of the company’s stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $450.00, for a total value of $3,045,600.00. Following the completion of the transaction, the chief financial officer now owns 1,350 shares in the company, valued at $607,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Varun Krishna sold 7,438 shares of the company’s stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $450.80, for a total transaction of $3,353,050.40. The disclosure for this sale can be found here. Corporate insiders own 3.27% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on INTU shares. Oppenheimer boosted their price target on shares of Intuit from $476.00 to $516.00 and gave the company an “outperform” rating in a research report on Wednesday, August 24th. Evercore ISI dropped their target price on shares of Intuit from $601.00 to $505.00 in a research note on Friday, September 30th. Stifel Nicolaus dropped their target price on shares of Intuit from $525.00 to $475.00 and set a “buy” rating for the company in a research note on Friday, September 30th. Morgan Stanley dropped their target price on shares of Intuit from $550.00 to $520.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Intuit from $525.00 to $560.00 in a research note on Wednesday, August 24th. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $533.11.

Intuit Trading Up 0.9 %

NASDAQ INTU traded up $3.62 during trading on Thursday, reaching $395.85. 1,489,068 shares of the stock traded hands, compared to its average volume of 2,074,183. The firm has a market cap of $111.58 billion, a price-to-earnings ratio of 54.60, a price-to-earnings-growth ratio of 2.75 and a beta of 1.19. The stock’s 50-day moving average price is $400.58 and its 200 day moving average price is $409.89. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.39. Intuit Inc. has a fifty-two week low of $339.36 and a fifty-two week high of $697.27.

Intuit (NASDAQ:INTUGet Rating) last issued its quarterly earnings data on Tuesday, August 23rd. The software maker reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.20. The firm had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Intuit had a net margin of 16.23% and a return on equity of 16.47%. During the same quarter in the previous year, the company earned $1.28 earnings per share. Analysts predict that Intuit Inc. will post 9.07 EPS for the current year.

Intuit Profile

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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 ProConnect.

Further Reading

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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