First Bank & Trust Boosts Position in Intuit Inc. (NASDAQ:INTU)

First Bank & Trust raised its stake in shares of Intuit Inc. (NASDAQ:INTU) by 1.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,479 shares of the software maker’s stock after buying an additional 82 shares during the quarter. First Bank & Trust’s holdings in Intuit were worth $3,444,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. R Squared Ltd purchased a new position in Intuit during the 4th quarter valued at about $25,000. Northwest Investment Counselors LLC purchased a new position in Intuit during the 3rd quarter valued at about $27,000. Heck Capital Advisors LLC purchased a new position in Intuit during the 4th quarter valued at about $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Intuit during the 4th quarter valued at about $28,000. Finally, Sugar Maple Asset Management LLC purchased a new position in Intuit during the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Scotiabank assumed coverage on Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target for the company. Redburn Atlantic assumed coverage on Intuit in a research report on Wednesday. They set a “neutral” rating for the company. Morgan Stanley lifted their price target on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research report on Friday, November 22nd. Piper Sandler reiterated an “overweight” rating and set a $765.00 price target on shares of Intuit in a research report on Friday, January 10th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $760.00 price target on shares of Intuit in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Intuit has an average rating of “Moderate Buy” and a consensus target price of $726.53.

Insider Activity

In other news, EVP Alex G. Balazs sold 23,810 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the transaction, the executive vice president now directly owns 489 shares of the company’s stock, valued at approximately $325,664.22. The trade was a 97.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Laura A. Fennell sold 7,700 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $657.64, for a total value of $5,063,828.00. Following the transaction, the executive vice president now directly owns 33,916 shares in the company, valued at $22,304,518.24. This trade represents a 18.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 293,014 shares of company stock valued at $188,992,187. Company insiders own 2.68% of the company’s stock.

Intuit Price Performance

Shares of Intuit stock opened at $582.19 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The business’s 50 day simple moving average is $615.92 and its two-hundred day simple moving average is $628.85. The stock has a market capitalization of $162.97 billion, a P/E ratio of 56.52, a price-to-earnings-growth ratio of 2.89 and a beta of 1.24. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.14 EPS. Analysts forecast that Intuit Inc. will post 14.09 EPS for the current year.

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.