Wedbush Securities Inc. lowered its position in Intuit Inc. (NASDAQ:INTU) by 30.2% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,851 shares of the software maker’s stock after selling 802 shares during the period. Wedbush Securities Inc.’s holdings in Intuit were worth $246,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of INTU. Guardian Life Insurance Co. of America boosted its position in Intuit by 0.5% in the first quarter. Guardian Life Insurance Co. of America now owns 940 shares of the software maker’s stock worth $109,000 after buying an additional 5 shares during the period. Shine Investment Advisory Services Inc. acquired a new position in Intuit during the second quarter worth approximately $123,000. Johnson Financial Group Inc. boosted its position in Intuit by 5.8% in the first quarter. Johnson Financial Group Inc. now owns 1,080 shares of the software maker’s stock worth $126,000 after buying an additional 59 shares during the period. Miller Howard Investments Inc. NY acquired a new position in Intuit during the first quarter worth approximately $205,000. Finally, Lincoln National Corp acquired a new position in Intuit during the first quarter worth approximately $205,000. 85.18% of the stock is owned by institutional investors.
Shares of Intuit Inc. (INTU) opened at 134.11 on Monday. The firm has a 50 day moving average price of $135.05 and a 200-day moving average price of $128.38. Intuit Inc. has a 52-week low of $103.22 and a 52-week high of $143.81. The company has a market cap of $34.36 billion, a price-to-earnings ratio of 38.54 and a beta of 1.15.
Intuit (NASDAQ:INTU) last posted its earnings results on Tuesday, May 23rd. The software maker reported $3.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.87 by $0.03. The company had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Intuit had a return on equity of 80.88% and a net margin of 17.82%. Intuit’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period last year, the firm earned $3.43 earnings per share. Equities research analysts anticipate that Intuit Inc. will post $4.39 earnings per share for the current year.
A number of equities analysts have recently commented on the company. CIBC boosted their price target on Intuit from $125.00 to $141.00 and gave the stock an “outperform” rating in a report on Friday, May 26th. Barclays PLC lowered their price target on Intuit from $129.00 to $124.00 and set an “equal weight” rating for the company in a report on Monday, April 24th. Zacks Investment Research raised Intuit from a “sell” rating to a “buy” rating and set a $155.00 price target for the company in a report on Monday, May 29th. Credit Suisse Group boosted their price target on Intuit from $120.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, May 25th. Finally, Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $141.00 price target (up previously from $125.00) on shares of Intuit in a report on Thursday, May 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the stock. Intuit has a consensus rating of “Buy” and a consensus price target of $135.63.
In other Intuit news, EVP Daniel A. Wernikoff sold 15,684 shares of Intuit stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $140.50, for a total transaction of $2,203,602.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Henry Tayloe Stansbury sold 1,871 shares of Intuit stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $135.29, for a total value of $253,127.59. The disclosure for this sale can be found here. Insiders sold 151,265 shares of company stock worth $21,085,104 over the last three months. 5.70% of the stock is owned by insiders.
Intuit Company Profile
Intuit Inc is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. The Company operates through three segments: Small Business, Consumer Tax and ProConnect. The Small Business segment serves and advises small businesses and the accounting professionals, and includes QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions.
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