Commerce Bank Has $15.92 Million Position in Intuit Inc. (NASDAQ:INTU)

Commerce Bank reduced its stake in Intuit Inc. (NASDAQ:INTU) by 2.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 25,639 shares of the software maker’s stock after selling 543 shares during the period. Commerce Bank’s holdings in Intuit were worth $15,922,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of INTU. LGT Financial Advisors LLC bought a new stake in shares of Intuit in the second quarter valued at about $25,000. Cultivar Capital Inc. bought a new stake in shares of Intuit in the second quarter valued at about $26,000. Fairway Wealth LLC bought a new stake in shares of Intuit in the second quarter valued at about $26,000. Northwest Investment Counselors LLC bought a new stake in Intuit during the third quarter worth about $27,000. Finally, Hobbs Group Advisors LLC bought a new stake in Intuit during the second quarter worth about $35,000. Institutional investors own 83.66% of the company’s stock.

Insiders Place Their Bets

In related news, insider Scott D. Cook sold 2,461 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total value of $1,568,124.59. Following the transaction, the insider now directly owns 6,453,105 shares in the company, valued at $4,111,853,974.95. This trade represents a 0.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Sandeep Aujla sold 4,000 shares of the stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $617.28, for a total value of $2,469,120.00. Following the completion of the transaction, the chief financial officer now owns 452 shares in the company, valued at approximately $279,010.56. This represents a 89.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,297 shares of company stock worth $35,220,046. Corporate insiders own 2.90% of the company’s stock.

Intuit Stock Performance

NASDAQ:INTU opened at $650.60 on Thursday. The company has a market capitalization of $182.25 billion, a PE ratio of 62.26, a P/E/G ratio of 3.36 and a beta of 1.25. The company has a 50 day simple moving average of $634.46 and a two-hundred day simple moving average of $630.89. 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 Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. The firm had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.40 EPS. Research analysts anticipate that Intuit Inc. will post 14.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

INTU has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Susquehanna reaffirmed a “positive” rating and set a $757.00 price objective on shares of Intuit in a research report on Friday, August 16th. Scotiabank assumed coverage on shares of Intuit in a research report on Monday. They set a “sector perform” rating and a $700.00 price objective for the company. Jefferies Financial Group increased their target price on shares of Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, BMO Capital Markets increased their target price on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $737.06.

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.