NorthCrest Asset Manangement LLC Grows Position in Intuit Inc. (NASDAQ:INTU)

NorthCrest Asset Manangement LLC lifted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 0.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 69,686 shares of the software maker’s stock after buying an additional 286 shares during the quarter. Intuit accounts for approximately 1.3% of NorthCrest Asset Manangement LLC’s holdings, making the stock its 11th largest holding. NorthCrest Asset Manangement LLC’s holdings in Intuit were worth $43,798,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. R Squared Ltd acquired a new position in Intuit during the 4th quarter worth $25,000. Copia Wealth Management bought a new stake in shares of Intuit during the 4th quarter worth about $25,000. NewSquare Capital LLC lifted its position in shares of Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after purchasing an additional 18 shares during the last quarter. Heck Capital Advisors LLC acquired a new position in Intuit in the 4th quarter valued at approximately $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in Intuit in the 4th quarter valued at approximately $28,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Stock Performance

Shares of INTU opened at $751.96 on Wednesday. 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 stock has a market capitalization of $210.22 billion, a P/E ratio of 73.01, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. The firm’s fifty day simple moving average is $622.13 and its two-hundred day simple moving average is $621.81. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $752.35.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.89 by $0.76. The company 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 business’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 EPS. As a group, analysts predict that Intuit Inc. will post 14.09 EPS for the current year.

Insider Transactions at Intuit

In other Intuit news, EVP Marianna Tessel sold 7,385 shares of the stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $600.13, for a total value of $4,431,960.05. Following the completion of the sale, the executive vice president now owns 40,190 shares in the company, valued at approximately $24,119,224.70. This trade represents a 15.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Scott D. Cook sold 6,446 shares of the stock in a transaction dated 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 completion of the sale, the insider now owns 6,219,900 shares of the company’s stock, valued at approximately $3,758,436,774. This trade represents a 0.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,696 shares of company stock valued at $14,347,731 in the last 90 days. 2.68% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Scotiabank upgraded Intuit from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the company from $600.00 to $700.00 in a research report on Thursday, April 17th. Bank of America lifted their target price on Intuit from $730.00 to $875.00 and gave the company a “buy” rating in a research report on Friday, May 23rd. Citigroup reissued a “buy” rating and set a $789.00 price target (up previously from $726.00) on shares of Intuit in a research report on Friday, May 23rd. The Goldman Sachs Group boosted their price target on Intuit from $750.00 to $860.00 and gave the company a “buy” rating in a research note on Monday, May 19th. Finally, Morgan Stanley restated an “overweight” rating and set a $785.00 price objective (up from $720.00) on shares of Intuit in a research report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $785.33.

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.