L & S Advisors Inc Lowers Position in Intuit Inc. (NASDAQ:INTU)

L & S Advisors Inc lessened its holdings in Intuit Inc. (NASDAQ:INTU) by 35.6% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,137 shares of the software maker’s stock after selling 5,049 shares during the period. L & S Advisors Inc’s holdings in Intuit were worth $5,674,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Fortitude Family Office LLC increased its stake in Intuit by 2.8% in the second quarter. Fortitude Family Office LLC now owns 582 shares of the software maker’s stock valued at $382,000 after acquiring an additional 16 shares during the last quarter. WASHINGTON TRUST Co grew its stake in shares of Intuit by 10.5% during the second quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker’s stock valued at $110,000 after buying an additional 16 shares during the last quarter. Gemmer Asset Management LLC grew its stake in shares of Intuit by 3.7% during the second quarter. Gemmer Asset Management LLC now owns 448 shares of the software maker’s stock valued at $294,000 after buying an additional 16 shares during the last quarter. PFG Investments LLC grew its stake in shares of Intuit by 1.1% during the second quarter. PFG Investments LLC now owns 1,558 shares of the software maker’s stock valued at $1,024,000 after buying an additional 17 shares during the last quarter. Finally, Plancorp LLC grew its stake in shares of Intuit by 2.0% during the second quarter. Plancorp LLC now owns 881 shares of the software maker’s stock valued at $579,000 after buying an additional 17 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on INTU. Scotiabank began coverage on Intuit in a research note on Monday. They set a “sector perform” rating and a $700.00 price objective on the stock. Stifel Nicolaus raised their target price on Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research note on Monday, September 30th. Piper Sandler reissued an “overweight” rating and issued a $768.00 target price on shares of Intuit in a research note on Friday, September 27th. Finally, Bank of America raised their target price on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $737.06.

Insider Activity

In other news, EVP Alex G. Balazs sold 2,941 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the transaction, the executive vice president now directly owns 20 shares of the company’s stock, valued at approximately $12,575.20. This trade represents a 99.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Sandeep Aujla sold 862 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total transaction of $535,327.86. Following the transaction, the chief financial officer now directly owns 3,840 shares in the company, valued at approximately $2,384,755.20. This trade represents a 18.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,297 shares of company stock worth $35,220,046. 2.90% of the stock is currently owned by corporate insiders.

Intuit Stock Up 1.5 %

Shares of INTU stock opened at $660.46 on Thursday. The stock has a market cap of $185.01 billion, a P/E ratio of 62.26, a PEG ratio of 3.15 and a beta of 1.25. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The company’s fifty day simple moving average is $634.46 and its two-hundred day simple moving average is $630.89.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping the consensus estimate of $1.85 by $0.14. The business had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.40 EPS. Analysts predict that Intuit Inc. will post 14.05 EPS for the current fiscal 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.