Intuit Inc. (NASDAQ:INTU) Shares Sold by Douglass Winthrop Advisors LLC

Douglass Winthrop Advisors LLC lessened its stake in Intuit Inc. (NASDAQ:INTU) by 0.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,728 shares of the software maker’s stock after selling 119 shares during the quarter. Douglass Winthrop Advisors LLC’s holdings in Intuit were worth $8,525,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of INTU. Fisher Asset Management LLC raised its stake in Intuit by 2.9% during the third quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock valued at $2,376,984,000 after buying an additional 107,482 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Intuit by 1.0% in the 2nd quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker’s stock valued at $1,538,236,000 after acquiring an additional 23,995 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Intuit by 1.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,688,445 shares of the software maker’s stock valued at $1,048,524,000 after acquiring an additional 26,914 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Intuit by 17.3% during the second quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock worth $1,062,578,000 after purchasing an additional 238,486 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Intuit by 4.2% in the second quarter. Principal Financial Group Inc. now owns 1,407,862 shares of the software maker’s stock worth $925,262,000 after purchasing an additional 56,370 shares during the period. Institutional investors own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on INTU. BMO Capital Markets increased their target price on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Barclays cut their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday. Morgan Stanley lifted their target price on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research note on Friday. Piper Sandler dropped their price target on Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Jefferies Financial Group raised their price target on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $737.44.

Insider Transactions at Intuit

In other news, CFO Sandeep Aujla sold 4,000 shares of Intuit stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $617.28, for a total value of $2,469,120.00. Following the transaction, the chief financial officer now owns 452 shares of the company’s stock, valued at $279,010.56. The trade was a 89.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Laura A. Fennell sold 30,159 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the completion of the sale, the executive vice president now owns 52,038 shares in the company, valued at $33,427,129.68. The trade was a 36.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,265 shares of company stock valued at $35,200,125. Corporate insiders own 2.90% of the company’s stock.

Intuit Stock Down 5.7 %

Intuit stock opened at $640.12 on Monday. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78. The stock has a market cap of $179.26 billion, a price-to-earnings ratio of 62.15, a PEG ratio of 3.13 and a beta of 1.25. The company’s 50-day moving average price is $634.81 and its two-hundred day moving average price is $631.19. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating 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 business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same period last year, the firm posted $1.14 earnings per share. The business’s revenue was up 10.2% on a year-over-year basis. On average, analysts expect that Intuit Inc. will post 14.05 EPS for the current fiscal year.

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.