Okabena Investment Services Inc. Buys 74 Shares of Intuit Inc. (NASDAQ:INTU)

Okabena Investment Services Inc. lifted its stake in Intuit Inc. (NASDAQ:INTU) by 3.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,565 shares of the software maker’s stock after acquiring an additional 74 shares during the period. Okabena Investment Services Inc.’s holdings in Intuit were worth $1,593,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Kingsview Wealth Management LLC boosted its stake in Intuit by 28.9% during the third quarter. Kingsview Wealth Management LLC now owns 1,576 shares of the software maker’s stock worth $978,000 after buying an additional 353 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of Intuit by 17.5% during the 3rd quarter. Cerity Partners LLC now owns 154,005 shares of the software maker’s stock worth $95,637,000 after acquiring an additional 22,884 shares during the period. GenTrust LLC acquired a new stake in shares of Intuit during the 3rd quarter valued at about $438,000. Stonebrook Private Inc. increased its stake in Intuit by 12.6% in the third quarter. Stonebrook Private Inc. now owns 384 shares of the software maker’s stock valued at $238,000 after acquiring an additional 43 shares during the period. Finally, Meridian Wealth Management LLC acquired a new position in Intuit in the third quarter worth about $722,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Stock Down 5.7 %

Shares of INTU opened at $640.12 on Friday. The business’s fifty day moving average price is $634.81 and its two-hundred day moving average price is $631.20. The firm has a market capitalization of $179.31 billion, a price-to-earnings ratio of 62.15, a PEG ratio of 3.32 and a beta of 1.25. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.28%. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same period in the previous year, the business earned $1.14 EPS. Intuit’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, analysts predict that Intuit Inc. will post 14.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on INTU shares. Stifel Nicolaus decreased their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a report on Friday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $760.00 price target on shares of Intuit in a research note on Friday. Jefferies Financial Group increased their price objective on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday. Bank of America boosted their target price on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Finally, Barclays dropped their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research report on Friday. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and a consensus price target of $737.44.

Insider Buying and Selling at Intuit

In related news, EVP Laura A. Fennell sold 30,159 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $642.36, for a total value of $19,372,935.24. Following the sale, the executive vice president now owns 52,038 shares in the company, valued at approximately $33,427,129.68. This represents a 36.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kerry J. Mclean sold 11,079 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total value of $6,997,607.19. Following the sale, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at $15,752,985.01. This represents a 30.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,297 shares of company stock worth $35,220,046 over the last 90 days. Company insiders own 2.90% of the company’s stock.

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.