STF Management LP Trims Holdings in Intuit Inc. (NASDAQ:INTU)

STF Management LP decreased its stake in shares of Intuit Inc. (NASDAQ:INTU) by 10.2% during the third quarter, HoldingsChannel.com reports. The firm owned 4,039 shares of the software maker’s stock after selling 460 shares during the period. Intuit accounts for 1.1% of STF Management LP’s portfolio, making the stock its 23rd largest position. STF Management LP’s holdings in Intuit were worth $2,508,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in INTU. International Assets Investment Management LLC lifted its stake in Intuit by 68,404.7% in the 3rd quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock worth $300,768,000 after purchasing an additional 483,621 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in Intuit during the second quarter valued at $184,982,000. Ameriprise Financial Inc. grew its position in Intuit by 17.3% during the second quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock worth $1,062,578,000 after buying an additional 238,486 shares in the last quarter. Clearbridge Investments LLC raised its holdings in shares of Intuit by 21.3% in the 2nd quarter. Clearbridge Investments LLC now owns 964,328 shares of the software maker’s stock valued at $633,766,000 after acquiring an additional 169,190 shares in the last quarter. Finally, Seven Post Investment Office LP bought a new stake in shares of Intuit during the 2nd quarter valued at about $107,513,000. Institutional investors own 83.66% of the company’s stock.

Intuit Price Performance

Shares of INTU stock opened at $679.40 on Friday. 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. The firm has a market cap of $190.31 billion, a P/E ratio of 65.01, a P/E/G ratio of 3.15 and a beta of 1.25. The business’s 50 day moving average price is $635.12 and its 200-day moving average price is $631.23.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.14. The business had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.14 earnings per share. On average, equities research analysts anticipate that Intuit Inc. will post 14.05 earnings per share for the current year.

Insider Activity

In related news, CFO Sandeep Aujla sold 862 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the sale, the chief financial officer now directly owns 3,840 shares of the company’s stock, valued at $2,384,755.20. This represents a 18.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Laura A. Fennell sold 30,159 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the completion of the sale, the executive vice president now directly owns 52,038 shares in the company, valued at $33,427,129.68. This represents a 36.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,297 shares of company stock valued at $35,220,046. Corporate insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on INTU shares. Bank of America boosted their price target on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research note on Monday, September 30th. Barclays raised their price objective on Intuit from $740.00 to $800.00 and gave the company an “overweight” rating in a report on Friday, November 15th. BMO Capital Markets upped their target price on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Finally, Stifel Nicolaus boosted their price objective on shares of Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $736.89.

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.