Suncoast Equity Management Sells 1,230 Shares of Intuit Inc. (NASDAQ:INTU)

Suncoast Equity Management decreased its holdings in Intuit Inc. (NASDAQ:INTU) by 1.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 71,266 shares of the software maker’s stock after selling 1,230 shares during the quarter. Intuit accounts for approximately 5.0% of Suncoast Equity Management’s holdings, making the stock its 7th biggest holding. Suncoast Equity Management’s holdings in Intuit were worth $44,790,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. R Squared Ltd acquired a new stake in Intuit in the 4th quarter valued at $25,000. Heck Capital Advisors LLC acquired a new stake in shares of Intuit in the 4th quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Intuit in the 4th quarter valued at $28,000. Sugar Maple Asset Management LLC bought a new stake in shares of Intuit in the 4th quarter worth about $29,000. Finally, Denver PWM LLC acquired a new stake in shares of Intuit during the 3rd quarter worth about $32,000. 83.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Jefferies Financial Group raised their price target on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Stifel Nicolaus reduced their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Redburn Atlantic assumed coverage on Intuit in a report on Wednesday. They set a “neutral” rating on the stock. Finally, Oppenheimer lifted their price target on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $726.53.

Insider Activity

In other news, CFO Sandeep Aujla sold 109 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total transaction of $68,506.50. Following the completion of the sale, the chief financial officer now owns 1,944 shares of the company’s stock, 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 at this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were 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 $4,093,595,351.10. This represents a 1.16 % 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 in the last 90 days. Corporate insiders own 2.68% of the company’s stock.

Intuit Trading Down 0.5 %

Shares of NASDAQ INTU opened at $579.08 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78. The company’s fifty day moving average is $614.05 and its 200-day moving average is $628.50. The stock has a market cap of $162.10 billion, a price-to-earnings ratio of 56.22, a P/E/G ratio of 2.87 and a beta of 1.24.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $3.28 billion during 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 company’s revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.14 earnings per share. Equities research analysts predict that Intuit Inc. will post 14.09 EPS for the current year.

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.