Intuit Inc. (NASDAQ:INTU) Shares Sold by Pitcairn Co.

Pitcairn Co. trimmed its position in Intuit Inc. (NASDAQ:INTU) by 11.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,151 shares of the software maker’s stock after selling 2,005 shares during the period. Intuit accounts for about 0.6% of Pitcairn Co.’s investment portfolio, making the stock its 26th biggest holding. Pitcairn Co.’s holdings in Intuit were worth $9,409,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Legal & General Group Plc boosted its stake in Intuit by 1.0% in the second 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 period. Charles Schwab Investment Management Inc. boosted its stake in Intuit by 1.6% in the third 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 during the period. Ameriprise Financial Inc. boosted its stake in Intuit by 17.3% in the second quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock valued at $1,062,578,000 after acquiring an additional 238,486 shares during the period. Principal Financial Group Inc. boosted its stake 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 valued at $925,262,000 after acquiring an additional 56,370 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in Intuit by 10.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,014,972 shares of the software maker’s stock valued at $630,298,000 after acquiring an additional 98,406 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Scott D. Cook sold 2,461 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total value of $1,568,124.59. Following the transaction, the insider now directly owns 6,453,105 shares of the company’s stock, valued at approximately $4,111,853,974.95. This represents a 0.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Sandeep Aujla sold 4,000 shares of the company’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the completion of the transaction, the chief financial officer now directly owns 452 shares in the company, valued at $279,010.56. This trade represents a 89.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,297 shares of company stock worth $35,220,046 over the last quarter. Corporate insiders own 2.90% of the company’s stock.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $640.12 on Friday. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78. The stock has a fifty day moving average of $634.81 and a 200-day moving average of $631.27. The company has a market capitalization of $179.31 billion, a PE ratio of 62.15, a price-to-earnings-growth ratio of 3.32 and a beta of 1.25. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. Intuit had a return on equity of 18.28% and a net margin of 17.59%. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.14 earnings per share. As a group, equities analysts anticipate that Intuit Inc. will post 14.05 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on INTU shares. Stifel Nicolaus decreased their target price on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research note on Friday. Oppenheimer lifted their target price on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note 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. Royal Bank of Canada reiterated an “outperform” rating and set a $760.00 price objective on shares of Intuit in a research report on Friday. Finally, Scotiabank assumed coverage on Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $737.44.

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.