Eqis Capital Management Inc. Boosts Holdings in Intuit Inc. (NASDAQ:INTU)

Eqis Capital Management Inc. boosted its position in shares of Intuit Inc. (NASDAQ:INTU) by 110.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,817 shares of the software maker’s stock after buying an additional 953 shares during the quarter. Eqis Capital Management Inc.’s holdings in Intuit were worth $593,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of INTU. BlackRock Inc. boosted its stake in Intuit by 4.1% during the second quarter. BlackRock Inc. now owns 23,085,334 shares of the software maker’s stock worth $6,837,643,000 after buying an additional 916,632 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Intuit by 47.1% during the third quarter. Wells Fargo & Company MN now owns 1,715,738 shares of the software maker’s stock valued at $559,693,000 after purchasing an additional 549,117 shares during the period. Nordea Investment Management AB boosted its stake in shares of Intuit by 116.2% during the second quarter. Nordea Investment Management AB now owns 893,754 shares of the software maker’s stock valued at $259,572,000 after purchasing an additional 480,331 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Intuit by 30.8% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,752,372 shares of the software maker’s stock valued at $518,148,000 after purchasing an additional 412,257 shares during the period. Finally, Intermede Investment Partners Ltd purchased a new stake in shares of Intuit during the third quarter valued at $73,724,000. 85.52% of the stock is owned by institutional investors.

Shares of NASDAQ INTU opened at $347.69 on Friday. The business’s 50 day moving average price is $338.89 and its 200 day moving average price is $311.04. The firm has a market cap of $91.03 billion, a P/E ratio of 50.24, a P/E/G ratio of 3.33 and a beta of 0.99. Intuit Inc. has a 52 week low of $187.68 and a 52 week high of $377.15. 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 issued its earnings results on Wednesday, November 18th. The software maker reported $0.94 EPS for the quarter, beating 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 last year, the company earned $0.55 EPS. As a group, research analysts expect that Intuit Inc. will post 7.11 earnings per share for the current year.

In other Intuit news, CEO Sasan K. Goodarzi sold 161,258 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 154,306 shares in the company, valued at approximately $53,337,411.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Brad D. Smith sold 18,773 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $342.01, for a total value of $6,420,553.73. Following the completion of the sale, the chairman now owns 304,706 shares in the company, valued at approximately $104,212,499.06. The disclosure for this sale can be found here. In the last quarter, insiders sold 244,742 shares of company stock worth $83,471,109. 4.09% of the stock is owned by insiders.

Several analysts recently weighed in on INTU shares. Piper Sandler lifted their price objective on Intuit from $378.00 to $412.00 and gave the company an “overweight” rating in a report on Friday. Credit Suisse Group lifted their price objective on Intuit from $375.00 to $385.00 and gave the company an “outperform” rating in a report on Friday. Stifel Nicolaus lifted their price objective on Intuit from $300.00 to $405.00 and gave the company a “buy” rating in a report on Wednesday, August 26th. Bank of America lifted their price objective on Intuit from $320.00 to $380.00 and gave the company a “buy” rating in a report on Wednesday, August 26th. Finally, Wells Fargo & Company lifted their price objective on Intuit from $380.00 to $400.00 and gave the company an “overweight” rating in a report on Friday. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $374.28.

Intuit Company 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 three segments: Small Business & Self-Employed, Consumer, and Strategic Partner.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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