Commerce Bank increased its stake in shares of Intuit Inc. (NASDAQ:INTU) by 1.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,858 shares of the software maker’s stock after buying an additional 291 shares during the quarter. Commerce Bank’s holdings in Intuit were worth $4,337,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Atlas Private Wealth Management bought a new position in Intuit in the 4th quarter valued at $26,000. Laurel Wealth Advisors LLC lifted its position in shares of Intuit by 50.0% during the 1st quarter. Laurel Wealth Advisors LLC now owns 120 shares of the software maker’s stock valued at $28,000 after buying an additional 40 shares during the last quarter. Virtus ETF Advisers LLC purchased a new position in shares of Intuit during the 4th quarter valued at $31,000. Cognios Capital LLC purchased a new position in shares of Intuit during the 1st quarter valued at $32,000. Finally, Ameritas Investment Company LLC lifted its position in shares of Intuit by 958.3% during the 4th quarter. Ameritas Investment Company LLC now owns 127 shares of the software maker’s stock valued at $33,000 after buying an additional 115 shares during the last quarter. Institutional investors and hedge funds own 86.39% of the company’s stock.
Shares of Intuit stock opened at $287.61 on Friday. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $75.54 billion, a PE ratio of 56.73, a price-to-earnings-growth ratio of 3.89 and a beta of 1.05. The business’s 50-day moving average price is $262.98 and its 200-day moving average price is $266.23. Intuit Inc. has a 12 month low of $187.68 and a 12 month high of $306.89.
Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, May 21st. The software maker reported $4.49 EPS for the quarter, missing the consensus estimate of $4.60 by ($0.11). Intuit had a net margin of 19.50% and a return on equity of 34.27%. The firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $3 billion. During the same quarter last year, the company posted $5.55 earnings per share. Intuit’s revenue for the quarter was down 8.3% compared to the same quarter last year. As a group, analysts predict that Intuit Inc. will post 5.85 earnings per share for the current fiscal year.
A number of research analysts have recently commented on the company. Citigroup upped their price target on Intuit from $272.00 to $292.00 and gave the company a “neutral” rating in a research report on Friday. Guggenheim reiterated a “” rating and set a $320.00 price target (up previously from $300.00) on shares of Intuit in a report on Friday. Mizuho increased their price objective on Intuit from $280.00 to $330.00 and gave the stock a “buy” rating in a report on Friday. Jefferies Financial Group increased their price objective on Intuit from $320.00 to $340.00 and gave the stock a “buy” rating in a report on Friday. Finally, Barclays increased their price objective on Intuit from $295.00 to $300.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Intuit has a consensus rating of “Buy” and a consensus target price of $306.00.
Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.
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