Commonwealth Equity Services LLC Grows Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Commonwealth Equity Services LLC raised its stake in Intuit Inc. (NASDAQ:INTU) by 5.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,592 shares of the software maker’s stock after buying an additional 2,508 shares during the period. Commonwealth Equity Services LLC’s holdings in Intuit were worth $20,890,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of INTU. Legacy Capital Group California Inc. increased its stake in Intuit by 3.0% during the 2nd quarter. Legacy Capital Group California Inc. now owns 1,625 shares of the software maker’s stock valued at $744,000 after purchasing an additional 48 shares in the last quarter. Johnson Investment Counsel Inc. increased its stake in Intuit by 3.8% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 122,347 shares of the software maker’s stock valued at $56,058,000 after purchasing an additional 4,471 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Intuit by 3.5% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 433,010 shares of the software maker’s stock valued at $198,161,000 after purchasing an additional 14,646 shares in the last quarter. Shelton Capital Management increased its stake in Intuit by 28.3% during the 2nd quarter. Shelton Capital Management now owns 38,242 shares of the software maker’s stock valued at $17,522,000 after purchasing an additional 8,426 shares in the last quarter. Finally, Great Lakes Advisors LLC increased its stake in Intuit by 17.4% during the 2nd quarter. Great Lakes Advisors LLC now owns 1,415 shares of the software maker’s stock valued at $648,000 after purchasing an additional 210 shares in the last quarter. Hedge funds and other institutional investors own 82.63% of the company’s stock.

Intuit Stock Up 0.8 %

Shares of NASDAQ INTU opened at $564.50 on Tuesday. Intuit Inc. has a 12-month low of $370.62 and a 12-month high of $567.03. The stock has a market cap of $158.23 billion, a PE ratio of 66.88, a P/E/G ratio of 3.37 and a beta of 1.20. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.35. The company has a 50-day moving average of $521.31 and a 200 day moving average of $490.03.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, August 24th. The software maker reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.22. The company had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.64 billion. Intuit had a net margin of 16.59% and a return on equity of 16.61%. Intuit’s revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.22 EPS. As a group, sell-side analysts predict that Intuit Inc. will post 11.25 EPS for the current fiscal year.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Marianna Tessel sold 8,702 shares of the business’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $552.63, for a total value of $4,808,986.26. Following the transaction, the executive vice president now directly owns 32,171 shares in the company, valued at approximately $17,778,659.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Lauren D. Hotz sold 550 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $549.42, for a total value of $302,181.00. Following the transaction, the chief accounting officer now directly owns 2,054 shares in the company, valued at approximately $1,128,508.68. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Marianna Tessel sold 8,702 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $552.63, for a total transaction of $4,808,986.26. Following the completion of the transaction, the executive vice president now owns 32,171 shares in the company, valued at $17,778,659.73. The disclosure for this sale can be found here. Insiders have sold 41,073 shares of company stock worth $22,091,651 in the last ninety days. 3.18% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Intuit from $525.00 to $575.00 and gave the stock a “buy” rating in a research note on Friday, August 25th. Credit Suisse Group increased their price objective on shares of Intuit from $500.00 to $570.00 and gave the stock an “outperform” rating in a research note on Friday, August 25th. Oppenheimer increased their price objective on shares of Intuit from $476.00 to $530.00 and gave the stock an “outperform” rating in a research note on Friday, August 25th. StockNews.com initiated coverage on shares of Intuit in a research note on Thursday, October 5th. They issued a “buy” rating on the stock. Finally, Wolfe Research increased their price target on shares of Intuit from $600.00 to $660.00 and gave the stock an “outperform” rating in a report on Friday, September 29th. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $567.41.

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.