Comgest Global Investors S.A.S. reduced its position in Intuit Inc. (NASDAQ:INTU) by 2.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 440,376 shares of the software maker’s stock after selling 10,600 shares during the quarter. Intuit comprises about 1.5% of Comgest Global Investors S.A.S.’s portfolio, making the stock its 15th largest holding. Comgest Global Investors S.A.S.’s holdings in Intuit were worth $69,483,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Exane Derivatives bought a new position in Intuit in the 3rd quarter valued at about $105,000. Horan Capital Advisors LLC. bought a new position in Intuit in the 3rd quarter valued at about $114,000. SeaCrest Wealth Management LLC bought a new position in Intuit in the 4th quarter valued at about $170,000. Highstreet Asset Management Inc. bought a new position in Intuit in the 3rd quarter valued at about $159,000. Finally, Trellis Advisors LLC bought a new position in Intuit in the 4th quarter valued at about $201,000. 86.76% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Intuit Inc. (INTU) opened at $171.69 on Tuesday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.35. Intuit Inc. has a 1 year low of $114.80 and a 1 year high of $173.00. The company has a market cap of $43,892.53, a P/E ratio of 45.54, a P/E/G ratio of 2.91 and a beta of 1.19.
In related news, Chairman Scott D. Cook sold 165,689 shares of Intuit stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $151.36, for a total transaction of $25,078,687.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Henry Tayloe Stansbury sold 2,158 shares of Intuit stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $158.94, for a total transaction of $342,992.52. Following the sale, the executive vice president now owns 3,050 shares in the company, valued at $484,767. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 965,938 shares of company stock worth $149,469,127. 5.59% of the stock is owned by corporate insiders.
INTU has been the topic of several recent analyst reports. UBS Group initiated coverage on shares of Intuit in a report on Thursday, November 9th. They issued a “neutral” rating and a $152.00 target price on the stock. Credit Suisse Group restated an “outperform” rating and issued a $185.00 price target (up from $170.00) on shares of Intuit in a research note on Tuesday, January 9th. Zacks Investment Research upgraded shares of Intuit from a “sell” rating to a “hold” rating in a research note on Tuesday, January 23rd. Barclays raised their price target on shares of Intuit from $135.00 to $157.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 15th. Finally, Oppenheimer raised their price target on shares of Intuit from $146.00 to $159.00 and gave the company an “outperform” rating in a research note on Friday, October 27th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $159.42.
Intuit Inc is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. The Company operates through three segments: Small Business, Consumer Tax and ProConnect. The Small Business segment serves and advises small businesses and the accounting professionals, and includes QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions.
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