GAM Holding AG Buys 2,985 Shares of Intuit Inc. (NASDAQ:INTU)

GAM Holding AG increased its stake in Intuit Inc. (NASDAQ:INTU) by 17.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,421 shares of the software maker’s stock after buying an additional 2,985 shares during the period. GAM Holding AG’s holdings in Intuit were worth $12,835,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. R Squared Ltd acquired a new stake in Intuit in the fourth quarter valued at approximately $25,000. Northwest Investment Counselors LLC purchased a new position in shares of Intuit during the 3rd quarter valued at approximately $27,000. Heck Capital Advisors LLC purchased a new position in shares of Intuit in the 4th quarter valued at about $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Intuit during the fourth quarter worth $28,000. Finally, Sugar Maple Asset Management LLC purchased a new position in shares of Intuit in the fourth quarter valued at approximately $29,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Price Performance

INTU stock opened at $587.38 on Tuesday. The business has a 50 day simple moving average of $620.21 and a 200-day simple moving average of $629.84. The company has a market capitalization of $164.42 billion, a P/E ratio of 57.03, a PEG ratio of 2.91 and a beta of 1.24. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.14. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. During the same period last year, the firm posted $1.14 EPS. Intuit’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, equities analysts anticipate that Intuit Inc. will post 14.09 EPS for the current year.

Insider Activity at Intuit

In other news, EVP Mark P. Notarainni sold 3,649 shares of the stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $646.68, for a total value of $2,359,735.32. Following the completion of the transaction, the executive vice president now owns 19 shares in the company, valued at $12,286.92. This trade represents a 99.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction on Monday, November 25th. The stock was sold at an average price of $641.82, for a total value of $48,136,500.00. Following the transaction, the insider now directly owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. This represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 293,014 shares of company stock worth $188,992,187 in the last quarter. Company insiders own 2.68% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Jefferies Financial Group upped their price target on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Stifel Nicolaus reduced their price objective on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Piper Sandler restated an “overweight” rating and set a $765.00 price target on shares of Intuit in a research note on Friday, January 10th. Morgan Stanley lifted their target price on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research report on Friday, November 22nd. Finally, Oppenheimer increased their price objective on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $726.53.

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.