Truepoint Inc. Sells 26 Shares of Intuit Inc. (NASDAQ:INTU)

Truepoint Inc. lowered its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 3.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 759 shares of the software maker’s stock after selling 26 shares during the period. Truepoint Inc.’s holdings in Intuit were worth $471,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. LGT Financial Advisors LLC purchased a new stake in Intuit during the 2nd quarter valued at $25,000. Cultivar Capital Inc. purchased a new stake in shares of Intuit in the 2nd quarter worth about $26,000. Fairway Wealth LLC purchased a new stake in shares of Intuit in the 2nd quarter worth about $26,000. Northwest Investment Counselors LLC purchased a new stake in shares of Intuit in the 3rd quarter worth about $27,000. Finally, Hobbs Group Advisors LLC purchased a new stake in shares of Intuit in the 2nd quarter worth about $35,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Transactions at Intuit

In other news, Director Eve B. Burton sold 2,988 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $649.87, for a total value of $1,941,811.56. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Sandeep Aujla sold 862 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total transaction of $535,327.86. Following the completion of the transaction, the chief financial officer now directly owns 3,840 shares in the company, valued at $2,384,755.20. This trade represents a 18.33 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,297 shares of company stock valued at $35,220,046. 2.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

INTU has been the subject of several research reports. Piper Sandler decreased their price target on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a research note on Friday. Barclays decreased their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday. StockNews.com lowered shares of Intuit from a “buy” rating to a “hold” rating in a research note on Friday. Scotiabank initiated coverage on shares of Intuit in a research note on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price target for the company. Finally, Jefferies Financial Group increased their price target on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $737.44.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $640.12 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78. The company has a market capitalization of $179.31 billion, a P/E ratio of 62.15, a P/E/G ratio of 3.32 and a beta of 1.25. The firm’s 50 day simple moving average is $634.81 and its two-hundred day simple moving average is $631.20.

Intuit (NASDAQ:INTU) last issued 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. Intuit had a net margin of 17.59% and a return on equity of 18.28%. The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the previous year, the firm earned $1.14 earnings per share. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. Research analysts expect that Intuit Inc. will post 14.05 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.