Kestra Investment Management LLC Grows Holdings in Intuit Inc. (NASDAQ:INTU)

Kestra Investment Management LLC boosted its position in Intuit Inc. (NASDAQ:INTU) by 31.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 497 shares of the software maker’s stock after purchasing an additional 118 shares during the period. Kestra Investment Management LLC’s holdings in Intuit were worth $312,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. R Squared Ltd bought a new position in shares of Intuit in the fourth quarter valued at approximately $25,000. Northwest Investment Counselors LLC purchased a new position in Intuit in the third quarter worth $27,000. Heck Capital Advisors LLC bought a new position in Intuit in the 4th quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Intuit during the 4th quarter valued at $28,000. Finally, Sugar Maple Asset Management LLC bought a new stake in shares of Intuit during the 4th quarter worth $29,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling

In other news, EVP Alex G. Balazs sold 23,810 shares of Intuit stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the completion of the sale, the executive vice president now owns 489 shares in the company, valued at approximately $325,664.22. This trade represents a 97.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Laura A. Fennell sold 4,788 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the completion of the transaction, the executive vice president now owns 30,010 shares in the company, valued at approximately $18,414,736.20. This trade represents a 13.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 293,014 shares of company stock worth $188,992,187 over the last ninety days. 2.68% of the stock is owned by corporate insiders.

Intuit Stock Performance

Intuit stock opened at $582.19 on Thursday. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $162.97 billion, a PE ratio of 56.52, a price-to-earnings-growth ratio of 2.89 and a beta of 1.24. The firm’s 50 day simple moving average is $615.92 and its 200 day simple moving average is $628.85.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.14. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.14 earnings per share. As a group, analysts expect that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on INTU. Stifel Nicolaus reduced their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. JPMorgan Chase & Co. increased their target price on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Morgan Stanley lifted their price target on shares of Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. Royal Bank of Canada reissued an “outperform” rating and set a $760.00 price objective on shares of Intuit in a report on Friday, November 22nd. Finally, Barclays lowered their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $726.53.

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.