Outfitter Financial LLC Cuts Holdings in Intuit Inc. (NASDAQ:INTU)

Outfitter Financial LLC decreased its position in Intuit Inc. (NASDAQ:INTU) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,559 shares of the software maker’s stock after selling 50 shares during the period. Intuit accounts for 1.8% of Outfitter Financial LLC’s investment portfolio, making the stock its 20th biggest holding. Outfitter Financial LLC’s holdings in Intuit were worth $2,237,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of INTU. Bradley Foster & Sargent Inc. CT boosted its position in Intuit by 0.4% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 107,986 shares of the software maker’s stock worth $67,869,000 after purchasing an additional 421 shares during the last quarter. Summerhill Capital Management lnc. raised its stake in shares of Intuit by 2.2% during the 4th quarter. Summerhill Capital Management lnc. now owns 5,980 shares of the software maker’s stock worth $3,758,000 after purchasing an additional 127 shares during the period. Cromwell Holdings LLC boosted its holdings in shares of Intuit by 6.7% in the 4th quarter. Cromwell Holdings LLC now owns 878 shares of the software maker’s stock worth $552,000 after buying an additional 55 shares during the last quarter. Mattern Capital Management LLC grew its position in Intuit by 12.2% during the fourth quarter. Mattern Capital Management LLC now owns 953 shares of the software maker’s stock valued at $599,000 after buying an additional 104 shares during the period. Finally, First Bank & Trust increased its holdings in Intuit by 1.5% during the fourth quarter. First Bank & Trust now owns 5,479 shares of the software maker’s stock worth $3,444,000 after buying an additional 82 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Insider Transactions at Intuit

In related news, CAO Lauren D. Hotz sold 1,078 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the transaction, the chief accounting officer now directly owns 1,864 shares in the company, valued at approximately $1,154,337.92. The trade was a 36.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $641.82, for a total value of $48,136,500.00. Following the sale, the insider now owns 6,378,105 shares in the company, valued at $4,093,595,351.10. The trade was a 1.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 293,014 shares of company stock valued at $188,992,187. 2.68% of the stock is owned by corporate insiders.

Intuit Stock Down 0.5 %

INTU opened at $579.08 on Friday. The firm has a market capitalization of $162.10 billion, a P/E ratio of 56.22, a price-to-earnings-growth ratio of 2.87 and a beta of 1.24. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78. The company has a fifty day moving average price of $614.05 and a 200-day moving average price of $628.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $3.14 billion. During the same period in the previous year, the business earned $1.14 earnings per share. The firm’s revenue was up 10.2% on a year-over-year basis. Equities research analysts expect that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on INTU. Oppenheimer boosted their target price on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a report on Thursday, January 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 note on Friday, November 22nd. Scotiabank assumed coverage on Intuit in a research note on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target for the company. Finally, Redburn Atlantic assumed coverage on Intuit in a report on Wednesday. They issued a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $726.53.

About Intuit

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.