Intuit Inc. (NASDAQ:INTU) Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB grew its position in shares of Intuit Inc. (NASDAQ:INTU) by 9.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 332,941 shares of the software maker’s stock after purchasing an additional 29,010 shares during the quarter. Intuit accounts for 0.8% of Handelsbanken Fonder AB’s portfolio, making the stock its 17th largest position. Handelsbanken Fonder AB owned about 0.12% of Intuit worth $209,253,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC grew its holdings in Intuit by 68,404.7% during the third quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock worth $300,768,000 after acquiring an additional 483,621 shares during the period. Holocene Advisors LP boosted its position in shares of Intuit by 99.6% during the 3rd quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock valued at $388,487,000 after purchasing an additional 312,212 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Intuit by 83.2% in the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after purchasing an additional 268,060 shares during the last quarter. State Street Corp raised its holdings in shares of Intuit by 1.8% in the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock worth $7,648,910,000 after purchasing an additional 221,885 shares in the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new stake in Intuit during the fourth quarter valued at approximately $104,278,000. Institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on INTU. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $760.00 price target on shares of Intuit in a report on Friday, November 22nd. Redburn Atlantic began coverage on Intuit in a research report on Wednesday. They issued a “neutral” rating for the company. Barclays cut their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Oppenheimer raised their target price on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Finally, StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Intuit currently has an average rating of “Moderate Buy” and an average price target of $726.53.

Insider Buying and Selling

In other news, CAO Lauren D. Hotz sold 1,078 shares of the business’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 sale, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sandeep Aujla sold 109 shares of the firm’s 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 transaction, the chief financial officer now owns 1,944 shares in the company, valued at $1,221,804. The trade was a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 293,014 shares of company stock worth $188,992,187. Corporate insiders own 2.68% of the company’s stock.

Intuit Trading Up 0.4 %

NASDAQ:INTU opened at $582.19 on Thursday. The company has a market capitalization of $162.97 billion, a P/E ratio of 56.52, a P/E/G ratio of 2.89 and a beta of 1.24. The stock’s 50 day moving average price is $615.92 and its 200 day moving average price is $628.85. 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 52 week low of $557.29 and a 52 week 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 the consensus estimate of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same quarter in the prior year, the business posted $1.14 EPS. Intuit’s quarterly revenue was up 10.2% on a year-over-year basis. On average, research analysts forecast that Intuit Inc. will post 14.09 EPS for the current fiscal year.

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.