Intuit Inc. (NASDAQ:INTU) Stake Lessened by AXS Investments LLC

AXS Investments LLC reduced its position in shares of Intuit Inc. (NASDAQ:INTU) by 2.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,341 shares of the software maker’s stock after selling 178 shares during the quarter. Intuit comprises 1.3% of AXS Investments LLC’s portfolio, making the stock its 11th largest holding. AXS Investments LLC’s holdings in Intuit were worth $5,213,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of INTU. Vanguard Group Inc. grew its stake in shares of Intuit by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 25,331,318 shares of the software maker’s stock worth $12,942,784,000 after purchasing an additional 117,478 shares during the last quarter. FMR LLC increased its holdings in shares of Intuit by 5.0% in the third quarter. FMR LLC now owns 5,636,635 shares of the software maker’s stock valued at $2,879,982,000 after buying an additional 266,803 shares in the last quarter. Morgan Stanley lifted its position in shares of Intuit by 3.7% during the 3rd quarter. Morgan Stanley now owns 3,848,401 shares of the software maker’s stock valued at $1,966,304,000 after acquiring an additional 137,198 shares during the last quarter. Brown Advisory Inc. boosted its stake in shares of Intuit by 2.3% during the 4th quarter. Brown Advisory Inc. now owns 3,548,119 shares of the software maker’s stock worth $2,217,681,000 after acquiring an additional 80,517 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Intuit during the fourth quarter worth $2,101,848,000. Institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Alex G. Balazs sold 280 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the completion of the transaction, the executive vice president now directly owns 22,948 shares of the company’s stock, valued at $15,233,800.32. The disclosure for this sale can be found here. Insiders sold a total of 4,717 shares of company stock valued at $3,117,156 in the last ninety days. Company insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on INTU shares. Barclays raised their price objective on shares of Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. increased their price objective on Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a research note on Friday, February 23rd. KeyCorp raised their price objective on Intuit from $720.00 to $740.00 and gave the stock an “overweight” rating in a research report on Monday. Susquehanna raised their price target on shares of Intuit from $700.00 to $775.00 and gave the stock a “positive” rating in a report on Friday, February 23rd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $700.00 price objective on shares of Intuit in a research report on Tuesday, March 26th. Five investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, Intuit has an average rating of “Moderate Buy” and a consensus price target of $666.59.

Intuit Stock Performance

Shares of NASDAQ INTU traded down $8.01 during trading hours on Thursday, hitting $662.26. 1,673,275 shares of the stock were exchanged, compared to its average volume of 1,201,523. Intuit Inc. has a one year low of $400.22 and a one year high of $676.62. The company’s 50 day moving average is $634.72 and its 200 day moving average is $619.64. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. The firm has a market capitalization of $185.43 billion, a P/E ratio of 68.39, a P/E/G ratio of 4.07 and a beta of 1.22.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.33. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The firm had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the prior year, the company earned $1.05 EPS. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. On average, research analysts expect that Intuit Inc. will post 11.28 EPS for the current 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.