Alberta Investment Management Corp Acquires Shares of 17,115 Intuit Inc. (NASDAQ:INTU)

Alberta Investment Management Corp acquired a new stake in shares of Intuit Inc. (NASDAQ:INTU) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 17,115 shares of the software maker’s stock, valued at approximately $10,757,000.

Other hedge funds have also added to or reduced their stakes in the company. R Squared Ltd purchased a new position in Intuit during the 4th quarter valued at $25,000. Northwest Investment Counselors LLC purchased a new position in Intuit during the 3rd quarter valued at $27,000. Heck Capital Advisors LLC purchased a new position in Intuit during the 4th quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Intuit in the 4th quarter worth about $28,000. Finally, Sugar Maple Asset Management LLC purchased a new stake in shares of Intuit in the 4th quarter worth about $29,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $641.82, for a total value of $48,136,500.00. Following the completion of the sale, the insider now directly owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. This trade represents a 1.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sasan K. Goodarzi sold 26,562 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $625.89, for a total value of $16,624,890.18. Following the sale, the chief executive officer now directly owns 37,869 shares of the company’s stock, valued at $23,701,828.41. The trade was a 41.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 293,014 shares of company stock valued at $188,992,187 in the last three months. 2.68% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on INTU shares. Scotiabank started coverage on shares of Intuit in a research report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 target price on the stock. Morgan Stanley upped their target price on shares of Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $760.00 target price on shares of Intuit in a research report on Friday, November 22nd. JPMorgan Chase & Co. upped their target price on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Finally, Jefferies Financial Group upped their target price on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and a consensus price target of $726.53.

Intuit Trading Up 0.4 %

Shares of NASDAQ:INTU opened at $582.19 on Thursday. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78. The firm has a market capitalization of $162.97 billion, a price-to-earnings ratio of 56.52, a price-to-earnings-growth ratio of 2.89 and a beta of 1.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The business’s 50 day moving average price is $615.92 and its 200-day moving average price is $628.85.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same period in the prior year, the company earned $1.14 EPS. The firm’s revenue was up 10.2% compared to the same quarter last year. On average, equities research analysts forecast that Intuit Inc. will post 14.09 earnings per share 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.