Nixon Peabody Trust Co. Invests $1.05 Million in Intuit Inc. (NASDAQ:INTU)

Nixon Peabody Trust Co. acquired a new position in shares of Intuit Inc. (NASDAQ:INTU) during the 4th quarter, Holdings Channel reports. The firm acquired 1,675 shares of the software maker’s stock, valued at approximately $1,047,000.

A number of other hedge funds have also added to or reduced their stakes in the company. DiNuzzo Private Wealth Inc. purchased a new position in shares of Intuit during the fourth quarter valued at approximately $25,000. MCF Advisors LLC lifted its position in Intuit by 119.0% during the 4th quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock worth $29,000 after acquiring an additional 25 shares during the period. Cape Investment Advisory Inc. purchased a new stake in Intuit in the 3rd quarter worth $26,000. Wetzel Investment Advisors Inc. purchased a new position in shares of Intuit during the 4th quarter worth $38,000. Finally, Sachetta LLC purchased a new position in shares of Intuit in the 4th quarter valued at about $39,000. 83.66% of the stock is owned by institutional investors.

Intuit Stock Down 8.3 %

INTU stock traded down $55.27 during midday trading on Friday, hitting $606.99. The company’s stock had a trading volume of 4,251,735 shares, compared to its average volume of 1,240,246. The company has a market cap of $169.96 billion, a PE ratio of 62.48, a P/E/G ratio of 4.08 and a beta of 1.22. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35. The firm’s 50-day moving average is $634.96 and its 200-day moving average is $619.94. Intuit Inc. has a 12 month low of $400.22 and a 12 month high of $676.62.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, May 23rd. The software maker reported $8.63 earnings per share for the quarter, beating analysts’ consensus estimates of $8.12 by $0.51. The firm had revenue of $6.74 billion during the quarter, compared to analyst estimates of $6.65 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the business posted $7.80 earnings per share. On average, equities research analysts forecast that Intuit Inc. will post 11.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on INTU shares. Oppenheimer boosted their target price on shares of Intuit from $678.00 to $712.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. BMO Capital Markets reissued an “outperform” rating and issued a $700.00 price target on shares of Intuit in a research report on Tuesday, March 26th. Mizuho boosted their target price on shares of Intuit from $670.00 to $725.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Jefferies Financial Group boosted their price objective on Intuit from $760.00 to $770.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Evercore ISI increased their target price on Intuit from $670.00 to $725.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Five analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $679.41.

Insider Activity at Intuit

In other news, EVP Kerry J. Mclean sold 3,692 shares of Intuit 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 sale, the executive vice president now directly owns 22,948 shares of the company’s stock, valued at $15,233,800.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of the business’s 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 sale, the executive vice president now owns 22,948 shares of the company’s stock, valued at $15,233,800.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Alex G. Balazs sold 280 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The disclosure for this sale can be found here. Insiders have 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.

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.