Commerce Bank grew its holdings in Intuit Inc. (NASDAQ:INTU) by 1.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,858 shares of the software maker’s stock after purchasing an additional 291 shares during the period. Commerce Bank’s holdings in Intuit were worth $4,337,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Vestcor Investment Management Corp bought a new stake in shares of Intuit in the 4th quarter worth $10,304,000. Nippon Life Global Investors Americas Inc. grew its holdings in shares of Intuit by 25.9% in the fourth quarter. Nippon Life Global Investors Americas Inc. now owns 21,240 shares of the software maker’s stock worth $5,563,000 after acquiring an additional 4,370 shares during the period. Alyeska Investment Group L.P. bought a new stake in shares of Intuit in the fourth quarter worth $4,066,000. Amalgamated Bank grew its holdings in shares of Intuit by 3.8% in the fourth quarter. Amalgamated Bank now owns 43,096 shares of the software maker’s stock worth $11,288,000 after acquiring an additional 1,572 shares during the period. Finally, Lindsell Train Ltd grew its holdings in shares of Intuit by 8.5% in the fourth quarter. Lindsell Train Ltd now owns 2,743,100 shares of the software maker’s stock worth $718,500,000 after acquiring an additional 214,021 shares during the period. 86.39% of the stock is owned by institutional investors and hedge funds.
NASDAQ:INTU opened at $287.61 on Friday. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $75.54 billion, a P/E ratio of 56.73, a P/E/G ratio of 3.89 and a beta of 1.05. Intuit Inc. has a 12 month low of $187.68 and a 12 month high of $306.89. The business’s 50-day moving average is $262.98 and its 200 day moving average is $266.23.
Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, May 21st. The software maker reported $4.49 EPS for the quarter, missing analysts’ consensus estimates of $4.60 by ($0.11). The firm had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3 billion. Intuit had a return on equity of 34.27% and a net margin of 19.50%. Intuit’s quarterly revenue was down 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.55 earnings per share. On average, research analysts forecast that Intuit Inc. will post 5.85 earnings per share for the current year.
Several analysts recently commented on INTU shares. Bank of America lifted their price objective on Intuit from $270.00 to $320.00 and gave the stock a “buy” rating in a report on Friday. Mizuho lifted their price objective on Intuit from $280.00 to $330.00 and gave the stock a “buy” rating in a report on Friday. BidaskClub raised Intuit from a “buy” rating to a “strong-buy” rating in a report on Friday, May 8th. Cfra lowered Intuit from a “hold” rating to a “sell” rating in a report on Monday, April 6th. Finally, JPMorgan Chase & Co. cut their price target on Intuit from $268.00 to $249.00 and set an “underweight” rating for the company in a report on Thursday, March 26th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $306.00.
Intuit Company Profile
Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.
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