Intuit Inc. $INTU Position Boosted by Prudential PLC

Prudential PLC boosted its holdings in Intuit Inc. (NASDAQ:INTU) by 9.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,583 shares of the software maker’s stock after acquiring an additional 3,375 shares during the quarter. Prudential PLC’s holdings in Intuit were worth $30,389,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Tortoise Investment Management LLC grew its stake in shares of Intuit by 540.0% in the second quarter. Tortoise Investment Management LLC now owns 32 shares of the software maker’s stock worth $25,000 after purchasing an additional 27 shares in the last quarter. Westside Investment Management Inc. raised its stake in shares of Intuit by 161.5% during the second quarter. Westside Investment Management Inc. now owns 34 shares of the software maker’s stock valued at $27,000 after purchasing an additional 21 shares in the last quarter. Dogwood Wealth Management LLC lifted its holdings in Intuit by 111.8% in the second quarter. Dogwood Wealth Management LLC now owns 36 shares of the software maker’s stock worth $28,000 after purchasing an additional 19 shares during the period. True Wealth Design LLC grew its position in Intuit by 270.0% in the 2nd quarter. True Wealth Design LLC now owns 37 shares of the software maker’s stock valued at $29,000 after buying an additional 27 shares in the last quarter. Finally, Vista Cima Wealth Management LLC bought a new position in Intuit in the 1st quarter valued at about $31,000. Institutional investors own 83.66% of the company’s stock.

Insider Activity at Intuit

In other news, CFO Sandeep Aujla sold 1,170 shares of Intuit stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $677.06, for a total value of $792,160.20. Following the transaction, the chief financial officer directly owned 1,295 shares of the company’s stock, valued at $876,792.70. This trade represents a 47.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Scott D. Cook sold 529 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $664.99, for a total transaction of $351,779.71. Following the sale, the director owned 6,162,547 shares in the company, valued at $4,098,032,129.53. This represents a 0.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 2,407 shares of company stock worth $1,614,913 in the last quarter. 2.68% of the stock is owned by company insiders.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $650.62 on Thursday. The company has a market capitalization of $181.40 billion, a PE ratio of 47.35, a price-to-earnings-growth ratio of 2.53 and a beta of 1.25. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.36 and a current ratio of 1.36. The stock has a fifty day moving average of $666.42 and a 200-day moving average of $707.07. Intuit Inc. has a one year low of $532.65 and a one year high of $813.70.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, August 21st. The software maker reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. Intuit had a return on equity of 22.72% and a net margin of 20.55%.The business had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.75 billion. During the same period in the previous year, the firm posted $1.99 EPS. The company’s quarterly revenue was up 20.3% on a year-over-year basis. As a group, equities analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

INTU has been the subject of a number of research analyst reports. Morgan Stanley reduced their price target on shares of Intuit from $900.00 to $880.00 and set an “overweight” rating for the company in a research note on Friday, August 22nd. KeyCorp dropped their target price on Intuit from $850.00 to $825.00 and set an “overweight” rating on the stock in a report on Friday, August 22nd. Zacks Research lowered Intuit from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 21st. Stifel Nicolaus lowered their price target on Intuit from $850.00 to $800.00 and set a “buy” rating on the stock in a research report on Friday, August 22nd. Finally, JPMorgan Chase & Co. cut their price objective on Intuit from $770.00 to $750.00 and set an “overweight” rating for the company in a report on Friday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $799.35.

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 four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.