Intuit Inc. (NASDAQ:INTU) Shares Bought by Summerhill Capital Management lnc.

Summerhill Capital Management lnc. boosted its position in shares of Intuit Inc. (NASDAQ:INTU) by 2.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,980 shares of the software maker’s stock after buying an additional 127 shares during the period. Intuit accounts for approximately 2.8% of Summerhill Capital Management lnc.’s portfolio, making the stock its 16th biggest holding. Summerhill Capital Management lnc.’s holdings in Intuit were worth $3,758,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of INTU. Foundations Investment Advisors LLC increased its holdings in shares of Intuit by 8.1% in the third quarter. Foundations Investment Advisors LLC now owns 402 shares of the software maker’s stock valued at $250,000 after purchasing an additional 30 shares during the period. Eastern Bank increased its holdings in shares of Intuit by 9.9% in the third quarter. Eastern Bank now owns 1,431 shares of the software maker’s stock valued at $889,000 after purchasing an additional 129 shares during the period. Leo Wealth LLC increased its holdings in shares of Intuit by 8.6% in the third quarter. Leo Wealth LLC now owns 341 shares of the software maker’s stock valued at $212,000 after purchasing an additional 27 shares during the period. Stanley Laman Group Ltd. increased its holdings in shares of Intuit by 28.5% in the third quarter. Stanley Laman Group Ltd. now owns 1,479 shares of the software maker’s stock valued at $918,000 after purchasing an additional 328 shares during the period. Finally, Commerzbank Aktiengesellschaft FI increased its holdings in shares of Intuit by 32.6% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 1,831 shares of the software maker’s stock valued at $1,138,000 after purchasing an additional 450 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Stifel Nicolaus dropped their target price on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Scotiabank began coverage on Intuit in a research note on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price target on the stock. 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 note on Friday, November 22nd. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, Barclays decreased their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $726.53.

Insider Activity

In other news, CFO Sandeep Aujla sold 109 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $628.50, for a total value of $68,506.50. Following the sale, the chief financial officer now directly owns 1,944 shares in the company, valued at $1,221,804. This represents a 5.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 completion of the sale, the executive vice president now owns 489 shares in the company, valued at $325,664.22. This represents a 97.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 293,014 shares of company stock worth $188,992,187 over the last three months. 2.68% of the stock is currently owned by corporate insiders.

Intuit Stock Down 0.5 %

INTU opened at $579.08 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78. The business’s fifty day moving average is $614.05 and its two-hundred day moving average is $628.50. The company has a market cap of $162.10 billion, a price-to-earnings ratio of 56.22, a PEG ratio of 2.87 and a beta of 1.24.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same period in the prior year, the business earned $1.14 earnings per share. The business’s revenue was up 10.2% on a year-over-year basis. Analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal 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.