Ithaka Group LLC Lowers Holdings in Intuit Inc. (NASDAQ:INTU)

Ithaka Group LLC cut its holdings in Intuit Inc. (NASDAQ:INTU) by 3.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,072 shares of the software maker’s stock after selling 546 shares during the period. Intuit accounts for 1.9% of Ithaka Group LLC’s holdings, making the stock its 22nd biggest holding. Ithaka Group LLC’s holdings in Intuit were worth $9,981,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in INTU. International Assets Investment Management LLC increased its stake in Intuit by 68,404.7% in the 3rd quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock worth $300,768,000 after acquiring an additional 483,621 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in Intuit in the 2nd quarter worth approximately $184,982,000. Ameriprise Financial Inc. increased its position in shares of Intuit by 17.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock valued at $1,062,578,000 after purchasing an additional 238,486 shares during the last quarter. Clearbridge Investments LLC increased its position in shares of Intuit by 21.3% during the 2nd quarter. Clearbridge Investments LLC now owns 964,328 shares of the software maker’s stock valued at $633,766,000 after purchasing an additional 169,190 shares during the last quarter. Finally, Seven Post Investment Office LP bought a new position in shares of Intuit during the 2nd quarter valued at approximately $107,513,000. Institutional investors own 83.66% of the company’s stock.

Intuit Trading Up 4.4 %

Shares of NASDAQ INTU opened at $679.40 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a market capitalization of $190.31 billion, a P/E ratio of 65.01, a price-to-earnings-growth ratio of 3.15 and a beta of 1.25. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78. The business has a fifty day moving average price of $635.12 and a 200 day moving average price of $631.23.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.14 EPS. Equities research analysts expect that Intuit Inc. will post 14.05 EPS for the current fiscal year.

Analyst Ratings Changes

INTU has been the topic of several analyst reports. Jefferies Financial Group boosted their target price on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. JPMorgan Chase & Co. boosted their target price on Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Morgan Stanley boosted 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. Bank of America upped their price objective on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Finally, StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Intuit currently has an average rating of “Moderate Buy” and an average price target of $739.39.

Insider Buying and Selling

In related news, CFO Sandeep Aujla sold 775 shares of the company’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total transaction of $466,015.25. Following the transaction, the chief financial officer now directly owns 4,451 shares of the company’s stock, valued at $2,676,430.81. This represents a 14.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Laura A. Fennell sold 30,159 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $642.36, for a total value of $19,372,935.24. Following the transaction, the executive vice president now directly owns 52,038 shares in the company, valued at $33,427,129.68. This represents a 36.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,297 shares of company stock worth $35,220,046 in the last three months. 2.90% of the stock is owned by 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.