Bank Julius Baer & Co. Ltd Zurich raised its stake in Intuit Inc. (NASDAQ:INTU) by 22.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,400 shares of the software maker’s stock after purchasing an additional 820 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Intuit were worth $1,226,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Harvest Group Wealth Management LLC purchased a new position in shares of Intuit in the 2nd quarter valued at approximately $25,000. Creative Financial Designs Inc. ADV purchased a new position in shares of Intuit in the 2nd quarter valued at approximately $27,000. Crewe Advisors LLC purchased a new position in shares of Intuit in the 3rd quarter valued at approximately $30,000. Norway Savings Bank purchased a new position in shares of Intuit in the 3rd quarter valued at approximately $33,000. Finally, Slow Capital Inc. purchased a new stake in shares of Intuit in the third quarter valued at approximately $33,000. Institutional investors own 85.52% of the company’s stock.
INTU has been the topic of a number of analyst reports. Stifel Nicolaus lifted their price target on Intuit from $300.00 to $405.00 and gave the company a “buy” rating in a research note on Wednesday, August 26th. KeyCorp lifted their price target on Intuit from $315.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, August 24th. Wells Fargo & Company lifted their price target on Intuit from $380.00 to $400.00 and gave the company an “overweight” rating in a research note on Friday. Guggenheim lifted their price target on Intuit from $320.00 to $395.00 and gave the company a “buy” rating in a research note on Wednesday, August 26th. Finally, Argus lifted their price target on Intuit from $325.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday, August 27th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the stock. Intuit has a consensus rating of “Buy” and an average target price of $374.28.
NASDAQ INTU opened at $347.69 on Friday. Intuit Inc. has a fifty-two week low of $187.68 and a fifty-two week high of $377.15. The stock has a market cap of $91.03 billion, a price-to-earnings ratio of 50.24, a price-to-earnings-growth ratio of 3.33 and a beta of 0.99. The business has a fifty day moving average of $338.89 and a 200-day moving average of $311.04. The company has a quick ratio of 2.26, a current ratio of 2.26 and a debt-to-equity ratio of 0.40.
Intuit (NASDAQ:INTU) last released its quarterly earnings results on Wednesday, November 18th. The software maker reported $0.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.90. Intuit had a return on equity of 40.79% and a net margin of 23.78%. During the same period in the previous year, the business earned $0.55 earnings per share. As a group, analysts anticipate that Intuit Inc. will post 7.11 EPS for the current year.
In other news, CEO Sasan K. Goodarzi sold 161,258 shares of the business’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $345.66, for a total value of $55,740,440.28. Following the completion of the transaction, the chief executive officer now directly owns 154,306 shares of the company’s stock, valued at $53,337,411.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Laura A. Fennell sold 29,204 shares of Intuit stock in a transaction on Monday, September 14th. The shares were sold at an average price of $320.34, for a total value of $9,355,209.36. Following the completion of the sale, the executive vice president now directly owns 95,313 shares of the company’s stock, valued at approximately $30,532,566.42. The disclosure for this sale can be found here. Over the last three months, insiders sold 244,742 shares of company stock valued at $83,471,109. Insiders own 4.09% of the company’s stock.
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 three segments: Small Business & Self-Employed, Consumer, and Strategic Partner.
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