Ieq Capital LLC Lowers Holdings in Intuit Inc. (NASDAQ:INTU)

Ieq Capital LLC trimmed its position in Intuit Inc. (NASDAQ:INTU) by 0.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,499 shares of the software maker’s stock after selling 79 shares during the quarter. Ieq Capital LLC’s holdings in Intuit were worth $13,512,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Nordea Investment Management AB lifted its holdings in shares of Intuit by 83.2% in the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after buying an additional 268,060 shares during the period. Whalen Wealth Management Inc. purchased a new stake in shares of Intuit in the 4th quarter worth $621,000. Harvest Portfolios Group Inc. lifted its holdings in shares of Intuit by 5.4% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock worth $22,295,000 after buying an additional 1,853 shares during the period. Retireful LLC purchased a new stake in shares of Intuit in the 3rd quarter worth $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Intuit in the 3rd quarter worth $56,144,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Scott D. Cook sold 75,000 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. This represents a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the transaction, the chief accounting officer now directly owns 1,864 shares in the company, valued at $1,154,337.92. This represents a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 293,014 shares of company stock valued at $188,992,187. Company insiders own 2.68% of the company’s stock.

Intuit Trading Up 0.4 %

Shares of NASDAQ:INTU opened at $582.19 on Thursday. The business’s 50-day moving average is $615.92 and its 200 day moving average is $628.85. 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 P/E ratio of 56.52, a P/E/G 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.

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on INTU. Morgan Stanley upped their target price on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Stifel Nicolaus reduced their price target on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Piper Sandler reissued an “overweight” rating and issued a $765.00 price target on shares of Intuit in a research report on Friday, January 10th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $760.00 price target on shares of Intuit in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $726.53.

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.