Intuit Inc. $INTU Position Lowered by Comgest Global Investors S.A.S.

Comgest Global Investors S.A.S. reduced its position in shares of Intuit Inc. (NASDAQ:INTUFree Report) by 0.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 452,683 shares of the software maker’s stock after selling 2,851 shares during the period. Intuit comprises approximately 5.5% of Comgest Global Investors S.A.S.’s portfolio, making the stock its 8th largest position. Comgest Global Investors S.A.S.’s holdings in Intuit were worth $309,142,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. L & S Advisors Inc raised its stake in Intuit by 1.8% in the third quarter. L & S Advisors Inc now owns 5,541 shares of the software maker’s stock valued at $3,784,000 after buying an additional 97 shares in the last quarter. Synovus Financial Corp boosted its position in shares of Intuit by 43.2% during the 3rd quarter. Synovus Financial Corp now owns 5,155 shares of the software maker’s stock worth $3,520,000 after acquiring an additional 1,556 shares in the last quarter. Redmont Wealth Advisors LLC purchased a new position in shares of Intuit in the 3rd quarter valued at about $85,000. Syon Capital LLC raised its position in shares of Intuit by 9.7% during the 3rd quarter. Syon Capital LLC now owns 3,970 shares of the software maker’s stock worth $2,711,000 after acquiring an additional 350 shares in the last quarter. Finally, Advisors Capital Management LLC lifted its stake in Intuit by 5.8% during the third quarter. Advisors Capital Management LLC now owns 1,656 shares of the software maker’s stock worth $1,131,000 after purchasing an additional 91 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Trading Up 2.7%

NASDAQ INTU opened at $389.57 on Thursday. The firm’s fifty day moving average is $566.24 and its two-hundred day moving average is $635.57. Intuit Inc. has a one year low of $375.40 and a one year high of $813.70. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.39 and a current ratio of 1.39. The firm has a market cap of $108.41 billion, a PE ratio of 26.63, a P/E/G ratio of 1.55 and a beta of 1.24.

Intuit (NASDAQ:INTUGet Free Report) last released its quarterly earnings results on Thursday, November 20th. The software maker reported $3.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.09 by $0.25. The firm had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.76 billion. Intuit had a return on equity of 23.52% and a net margin of 21.19%.The business’s revenue was up 18.3% on a year-over-year basis. During the same quarter last year, the company posted $2.50 earnings per share. Analysts expect that Intuit Inc. will post 14.09 earnings per share for the current year.

Wall Street Analyst Weigh In

INTU has been the topic of several recent analyst reports. TD Cowen dropped their price target on shares of Intuit from $802.00 to $658.00 and set a “buy” rating on the stock in a research note on Monday, February 9th. Evercore reaffirmed an “outperform” rating and issued a $875.00 target price on shares of Intuit in a research report on Tuesday, November 18th. BMO Capital Markets reduced their price target on shares of Intuit from $810.00 to $624.00 and set an “outperform” rating for the company in a research report on Tuesday, February 10th. Wells Fargo & Company restated an “equal weight” rating and issued a $700.00 price objective (down previously from $840.00) on shares of Intuit in a research note on Thursday, January 8th. Finally, Oppenheimer cut their target price on Intuit from $868.00 to $696.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 3rd. Twenty-two equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $772.42.

Get Our Latest Stock Report on Intuit

Insider Buying and Selling

In other news, CEO Sasan K. Goodarzi sold 41,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $650.10, for a total value of $26,654,100.00. Following the transaction, the chief executive officer owned 13,611 shares of the company’s stock, valued at approximately $8,848,511.10. The trade was a 75.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Scott D. Cook sold 1,402 shares of Intuit stock in a transaction on Wednesday, December 31st. The shares were sold at an average price of $668.02, for a total transaction of $936,564.04. Following the completion of the transaction, the director owned 5,668,182 shares in the company, valued at approximately $3,786,458,939.64. This trade represents a 0.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 388,464 shares of company stock valued at $255,514,393 over the last 90 days. Insiders own 2.49% of the company’s stock.

Intuit News Summary

Here are the key news stories impacting Intuit this week:

About Intuit

(Free Report)

Intuit Inc (NASDAQ: INTU) is a financial software company headquartered in Mountain View, California, that develops and sells cloud-based financial management and compliance products for individuals, small businesses, self-employed workers and accounting professionals. Founded in 1983 by Scott Cook and Tom Proulx, the company has grown from desktop tax and accounting software into a diversified provider of online financial tools. As of my latest update, Sasan Goodarzi serves as Chief Executive Officer.

Intuit’s product portfolio includes QuickBooks, its flagship accounting and business-management platform that offers bookkeeping, payroll, payments and invoicing capabilities; TurboTax, a tax-preparation and filing service aimed at individual taxpayers; and Mint, a consumer personal-finance and budgeting app.

See Also

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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