Pacer Advisors Inc. Sells 1,425 Shares of Intuit Inc. (NASDAQ:INTU)

Pacer Advisors Inc. reduced its position in Intuit Inc. (NASDAQ:INTU) by 3.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,196 shares of the software maker’s stock after selling 1,425 shares during the quarter. Pacer Advisors Inc.’s holdings in Intuit were worth $24,962,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of INTU. LGT Financial Advisors LLC bought a new position in Intuit in the second quarter worth $25,000. Cultivar Capital Inc. bought a new position in shares of Intuit during the second quarter valued at $26,000. Fairway Wealth LLC bought a new position in shares of Intuit during the second quarter valued at $26,000. Northwest Investment Counselors LLC bought a new position in shares of Intuit during the third quarter valued at $27,000. Finally, Hobbs Group Advisors LLC bought a new position in shares of Intuit during the second quarter valued at $35,000. 83.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on INTU shares. Barclays cut their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a report on Friday. Scotiabank started coverage on Intuit in a report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective for the company. Oppenheimer lifted their price objective on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday. JPMorgan Chase & Co. lifted their price objective on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a report on Friday. Finally, Morgan Stanley lifted their price objective on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a report on Friday. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Intuit presently has a consensus rating of “Moderate Buy” and an average target price of $737.44.

Insider Transactions at Intuit

In other news, EVP Alex G. Balazs sold 2,941 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the completion of the transaction, the executive vice president now directly owns 20 shares in the company, valued at approximately $12,575.20. The trade was a 99.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eve B. Burton sold 2,988 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $649.87, for a total value of $1,941,811.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,297 shares of company stock worth $35,220,046. 2.90% of the stock is currently owned by company insiders.

Intuit Price Performance

Shares of INTU stock opened at $640.12 on Friday. The stock has a 50-day moving average price of $634.81 and a 200 day moving average price of $631.27. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The firm has a market cap of $179.31 billion, a price-to-earnings ratio of 61.26, a PEG ratio of 3.15 and a beta of 1.25. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The company’s revenue was up 10.2% on a year-over-year basis. During the same period last year, the company earned $1.14 earnings per share. Research analysts expect that Intuit Inc. will post 14.05 EPS for the current year.

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.