New York Life Investment Management LLC Buys 65 Shares of Intuit Inc. (NASDAQ:INTU)

New York Life Investment Management LLC grew its stake in shares of Intuit Inc. (NASDAQ:INTU) by 0.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 41,627 shares of the software maker’s stock after purchasing an additional 65 shares during the period. New York Life Investment Management LLC’s holdings in Intuit were worth $26,163,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. R Squared Ltd bought a new stake in Intuit during the 4th quarter worth approximately $25,000. Heck Capital Advisors LLC bought a new stake in Intuit during the 4th quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Intuit during the 4th quarter worth approximately $28,000. Sugar Maple Asset Management LLC bought a new stake in Intuit during the 4th quarter worth approximately $29,000. Finally, Denver PWM LLC bought a new stake in Intuit during the 3rd quarter worth approximately $32,000. 83.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on INTU shares. Redburn Atlantic began coverage on Intuit in a report on Wednesday, February 19th. They set a “neutral” rating for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $760.00 target price on shares of Intuit in a report on Friday, November 22nd. Scotiabank began coverage on Intuit in a report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 target price for the company. Barclays reduced their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Finally, Citigroup reduced their target price on Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Intuit presently has an average rating of “Moderate Buy” and an average target price of $723.76.

Insiders Place Their Bets

In other Intuit news, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the sale, the chief accounting officer now 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Alex G. Balazs sold 23,810 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total value of $15,856,983.80. Following the sale, the executive vice president now owns 489 shares in the company, valued at approximately $325,664.22. This represents a 97.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 218,014 shares of company stock worth $140,855,687 over the last 90 days. Corporate insiders own 2.68% of the company’s stock.

Intuit Trading Up 12.6 %

NASDAQ:INTU opened at $625.51 on Thursday. The company has a market cap of $175.09 billion, a P/E ratio of 60.73, a P/E/G ratio of 2.85 and a beta of 1.24. The stock’s fifty day moving average price is $607.22 and its two-hundred day moving average price is $627.53. Intuit Inc. has a 1 year low of $553.24 and a 1 year high of $714.78. 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 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.