Putney Financial Group LLC Invests $262,000 in Intuit Inc. (NASDAQ:INTU)

Putney Financial Group LLC purchased a new position in Intuit Inc. (NASDAQ:INTU) in the fourth quarter, Holdings Channel.com reports. The firm purchased 417 shares of the software maker’s stock, valued at approximately $262,000.

Other large investors have also recently made changes to their positions in the company. Value Partners Investments Inc. grew its position in Intuit by 1.8% during the fourth quarter. Value Partners Investments Inc. now owns 3,363 shares of the software maker’s stock valued at $2,112,000 after buying an additional 59 shares during the period. Forum Financial Management LP grew its position in Intuit by 29.6% during the fourth quarter. Forum Financial Management LP now owns 1,450 shares of the software maker’s stock valued at $911,000 after buying an additional 331 shares during the period. Baer Investment Advisory LLC bought a new stake in Intuit during the fourth quarter valued at approximately $3,261,000. Castlekeep Investment Advisors LLC bought a new stake in Intuit during the fourth quarter valued at approximately $5,135,000. Finally, Blue Sky Capital Consultants Group Inc. bought a new stake in Intuit during the fourth quarter valued at approximately $333,000. 83.66% of the stock is currently owned by institutional investors.

Insider Activity at Intuit

In related news, insider Scott D. Cook sold 6,446 shares of the company’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the sale, the insider now owns 6,219,900 shares of the company’s stock, valued at $3,758,436,774. This represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Laura A. Fennell sold 8,163 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the sale, the executive vice president now directly owns 21,882 shares in the company, valued at approximately $13,401,849.72. The trade was a 27.17% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,696 shares of company stock valued at $14,347,731 over the last 90 days. 2.68% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Wells Fargo & Company boosted their target price on shares of Intuit from $775.00 to $825.00 and gave the company an “overweight” rating in a research report on Friday. The Goldman Sachs Group upped their price target on shares of Intuit from $750.00 to $860.00 and gave the stock a “buy” rating in a research report on Monday, May 19th. Piper Sandler reiterated an “overweight” rating and issued a $825.00 price target (up from $785.00) on shares of Intuit in a research report on Friday. Barclays upped their price target on shares of Intuit from $775.00 to $815.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Oppenheimer upped their price target on shares of Intuit from $642.00 to $742.00 and gave the stock an “outperform” rating in a research report on Friday. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Intuit presently has an average rating of “Moderate Buy” and a consensus price target of $785.33.

Intuit Price Performance

Intuit stock opened at $720.13 on Friday. The company has a market cap of $201.32 billion, a price-to-earnings ratio of 69.92, a PEG ratio of 2.85 and a beta of 1.24. The firm’s fifty day moving average is $616.76 and its 200 day moving average is $621.02. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $734.18.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.89 by $0.76. The company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. Intuit’s revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $9.88 earnings per share. Sell-side analysts forecast that Intuit Inc. will post 14.09 EPS for the current fiscal year.

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.