Intuit Inc. (NASDAQ:INTU) Shares Bought by Moors & Cabot Inc.

Moors & Cabot Inc. grew its position in Intuit Inc. (NASDAQ:INTU) by 6.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 657 shares of the software maker’s stock after purchasing an additional 38 shares during the period. Moors & Cabot Inc.’s holdings in Intuit were worth $408,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. LGT Financial Advisors LLC acquired a new stake in shares of Intuit during the second quarter valued at approximately $25,000. Cultivar Capital Inc. acquired a new stake in shares of Intuit during the 2nd quarter valued at about $26,000. Fairway Wealth LLC acquired a new stake in Intuit in the second quarter valued at approximately $26,000. Northwest Investment Counselors LLC bought a new stake in Intuit in the third quarter worth $27,000. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Intuit during the 2nd quarter valued at about $35,000. 83.66% of the stock is owned by institutional investors.

Intuit Trading Down 5.7 %

NASDAQ INTU opened at $640.12 on Friday. The firm has a market capitalization of $179.31 billion, a PE ratio of 62.15, a price-to-earnings-growth ratio of 3.32 and a beta of 1.25. The business’s 50-day moving average price is $634.81 and its two-hundred day moving average price is $631.20. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same quarter last year, the business earned $1.14 EPS. The company’s revenue was up 10.2% compared to the same quarter last year. On average, analysts expect that Intuit Inc. will post 14.05 EPS for the current year.

Insider Buying and Selling at Intuit

In other Intuit news, Director Eve B. Burton sold 2,988 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $649.87, for a total value of $1,941,811.56. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Alex G. Balazs sold 2,941 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total value of $1,849,183.16. Following the transaction, the executive vice president now owns 20 shares in the company, valued at $12,575.20. The trade was a 99.32 % decrease in their ownership of the stock. 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 insiders.

Analysts Set New Price Targets

Several research analysts have commented on the company. Scotiabank started coverage on Intuit in a research report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price target on the stock. Jefferies Financial Group lifted their price objective on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday. Bank of America boosted their target price on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Piper Sandler reduced their price objective on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Morgan Stanley boosted their price target on shares of 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $737.44.

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.