ING Groep NV Sells 14,266 Shares of Intuit Inc. (NASDAQ:INTU)

ING Groep NV lowered its stake in shares of Intuit Inc. (NASDAQ:INTU) by 15.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 80,637 shares of the software maker’s stock after selling 14,266 shares during the period. ING Groep NV’s holdings in Intuit were worth $50,680,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB boosted its holdings in Intuit by 83.2% during the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after buying an additional 268,060 shares during the last quarter. Whalen Wealth Management Inc. bought a new position in shares of Intuit during the 4th quarter valued at about $621,000. Harvest Portfolios Group Inc. lifted its holdings in shares of Intuit by 5.4% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock valued at $22,295,000 after purchasing an additional 1,853 shares in the last quarter. Retireful LLC bought a new position in shares of Intuit during the 3rd quarter valued at about $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Intuit during the 3rd quarter valued at about $56,144,000. Institutional investors own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on INTU shares. Royal Bank of Canada reiterated an “outperform” rating and set a $760.00 price objective on shares of Intuit in a report on Friday, November 22nd. 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 note on Friday, November 22nd. BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a research note on Wednesday, January 15th. Stifel Nicolaus cut their target price on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Finally, Jefferies Financial Group boosted their target price on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $726.53.

Intuit Stock Up 0.4 %

INTU stock opened at $582.19 on Thursday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $162.97 billion, a PE ratio of 56.52, a PEG ratio of 2.86 and a beta of 1.24. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78. The business’s 50 day simple moving average is $615.92 and its 200 day simple moving average is $628.85.

Intuit (NASDAQ:INTU) last posted its earnings results 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 business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.14 EPS. As a group, research analysts anticipate that Intuit Inc. will post 14.09 EPS for the current year.

Insider Buying and Selling

In other news, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the completion of the sale, the insider now directly owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. This represents a 1.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Alex G. Balazs sold 23,810 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total value of $15,856,983.80. Following the sale, the executive vice president now 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 disclosure for this sale can be found here. In the last three months, insiders have sold 293,014 shares of company stock valued at $188,992,187. 2.68% of the stock is owned by insiders.

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.