Integrated Advisors Network LLC Acquires 25 Shares of Intuit Inc. (NASDAQ:INTU)

Integrated Advisors Network LLC raised its stake in Intuit Inc. (NASDAQ:INTU) by 1.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,441 shares of the software maker’s stock after acquiring an additional 25 shares during the quarter. Integrated Advisors Network LLC’s holdings in Intuit were worth $906,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of INTU. Vanguard Group Inc. lifted its holdings in Intuit by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker’s stock worth $16,991,696,000 after buying an additional 353,185 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Intuit by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker’s stock valued at $3,833,720,000 after acquiring an additional 132,384 shares during the last quarter. Wellington Management Group LLP increased its position in Intuit by 13.3% in the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock worth $3,329,115,000 after purchasing an additional 620,559 shares during the period. Norges Bank acquired a new position in Intuit during the 4th quarter valued at about $2,290,419,000. Finally, Northern Trust Corp grew its position in shares of Intuit by 17.3% during the 4th quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker’s stock worth $2,118,682,000 after buying an additional 498,030 shares during the period. 83.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on INTU. Oppenheimer reiterated an “outperform” rating and set a $742.00 target price (up previously from $642.00) on shares of Intuit in a research report on Friday. Wall Street Zen upgraded Intuit from a “hold” rating to a “buy” rating in a report on Tuesday, April 29th. Evercore ISI raised their target price on Intuit from $685.00 to $785.00 and gave the stock an “outperform” rating in a report on Friday. Mizuho upped their price target on Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research note on Monday, March 3rd. Finally, Bank of America increased their target price on shares of Intuit from $730.00 to $875.00 and gave the stock a “buy” rating in a report on Friday. One research 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.com, Intuit has an average rating of “Moderate Buy” and an average target price of $785.33.

Insider Buying and Selling

In related news, insider Scott D. Cook sold 6,446 shares of the business’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 transaction, the insider now directly owns 6,219,900 shares in the company, valued at approximately $3,758,436,774. The trade was a 0.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Laura A. Fennell sold 8,163 shares of the company’s stock in a transaction on Monday, March 24th. The stock was 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 $13,401,849.72. This trade represents a 27.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,696 shares of company stock worth $14,347,731. Corporate insiders own 2.68% of the company’s stock.

Intuit Stock Performance

Shares of INTU stock opened at $720.13 on Tuesday. The firm has a market cap of $201.32 billion, a PE ratio of 69.92, a P/E/G ratio of 2.85 and a beta of 1.24. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $734.18. The company’s fifty day simple moving average is $619.10 and its 200-day simple moving average is $620.90. 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 (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, topping the consensus estimate of $10.89 by $0.76. The firm had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.56 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the previous year, the firm posted $9.88 EPS. Equities research analysts expect that Intuit Inc. will post 14.09 EPS for the current fiscal year.

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.