Cache Advisors LLC Buys New Stake in Intuit Inc. (NASDAQ:INTU)

Cache Advisors LLC purchased a new stake in shares of Intuit Inc. (NASDAQ:INTU) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,493 shares of the software maker’s stock, valued at approximately $2,195,000. Intuit makes up about 0.8% of Cache Advisors LLC’s investment portfolio, making the stock its 26th biggest position.

Several other institutional investors have also bought and sold shares of the business. GF Fund Management CO. LTD. bought a new stake in shares of Intuit in the 4th quarter worth about $33,714,000. University of Texas Texas AM Investment Management Co. grew its position in Intuit by 1,602.6% in the fourth quarter. University of Texas Texas AM Investment Management Co. now owns 647 shares of the software maker’s stock worth $407,000 after acquiring an additional 609 shares in the last quarter. Parr Mcknight Wealth Management Group LLC purchased a new position in Intuit in the fourth quarter worth about $2,330,000. Pacific Point Advisors LLC bought a new stake in Intuit during the fourth quarter worth approximately $3,142,000. Finally, GTS Securities LLC lifted its stake in shares of Intuit by 131.7% in the 4th quarter. GTS Securities LLC now owns 2,901 shares of the software maker’s stock valued at $1,823,000 after purchasing an additional 12,060 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Intuit Trading Up 8.1%

Shares of NASDAQ INTU opened at $720.13 on Friday. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $734.18. The firm has a market cap of $201.32 billion, a PE ratio of 69.92, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. The business has a fifty day simple moving average of $616.76 and a two-hundred day simple moving average of $621.21. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, beating the consensus estimate of $10.89 by $0.76. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same period in the previous year, the company posted $9.88 earnings per share. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. Analysts expect that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on INTU shares. Royal Bank of Canada boosted their target price on Intuit from $760.00 to $850.00 and gave the company an “outperform” rating in a research report on Friday. KeyCorp boosted their price objective on shares of Intuit from $770.00 to $850.00 and gave the company an “overweight” rating in a research report on Friday. Evercore ISI raised their target price on shares of Intuit from $685.00 to $785.00 and gave the stock an “outperform” rating in a report on Friday. Bank of America lifted their price target on shares of Intuit from $730.00 to $875.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Redburn Atlantic began coverage on shares of Intuit in a research report on Wednesday, February 19th. They issued a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $785.33.

Insider Activity

In related news, insider Scott D. Cook sold 6,446 shares of Intuit stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the transaction, the insider now directly owns 6,219,900 shares of the company’s stock, valued at $3,758,436,774. This trade represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Eve B. Burton sold 1,702 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the completion of the transaction, the director now directly owns 8 shares of the company’s stock, valued at $4,800. This trade represents a 99.53% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,696 shares of company stock worth $14,347,731. 2.68% of the stock is currently owned by corporate insiders.

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.