Intuit Inc. (NASDAQ:INTU) Shares Purchased by Quest Partners LLC

Quest Partners LLC increased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 203.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,652 shares of the software maker’s stock after acquiring an additional 1,108 shares during the quarter. Quest Partners LLC’s holdings in Intuit were worth $1,026,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. LGT Financial Advisors LLC acquired a new position in shares of Intuit in the 2nd quarter worth approximately $25,000. Cultivar Capital Inc. acquired a new position in shares of Intuit in the 2nd quarter worth approximately $26,000. Fairway Wealth LLC acquired a new position in shares of Intuit in the 2nd quarter worth approximately $26,000. Northwest Investment Counselors LLC acquired a new position in shares of Intuit in the 3rd quarter worth approximately $27,000. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Intuit in the 2nd quarter worth approximately $35,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Stock Performance

Intuit stock opened at $650.60 on Thursday. The stock has a 50-day simple moving average of $634.46 and a 200 day simple moving average of $630.89. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78. The stock has a market capitalization of $182.36 billion, a price-to-earnings ratio of 62.26, a P/E/G ratio of 3.36 and a beta of 1.25.

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

Analyst Ratings Changes

Several brokerages recently weighed in on INTU. Piper Sandler reaffirmed an “overweight” rating and set a $768.00 target price on shares of Intuit in a research note on Friday, September 27th. Stifel Nicolaus upped their target price on shares of Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Jefferies Financial Group upped their target price on shares of Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Scotiabank began coverage on shares of Intuit in a research note on Monday. They set a “sector perform” rating and a $700.00 target price on the stock. Finally, Susquehanna reaffirmed a “positive” rating and set a $757.00 target price on shares of Intuit in a research note on Friday, August 16th. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and a consensus price target of $737.06.

Insider Transactions at Intuit

In other Intuit news, Director Eve B. Burton sold 2,988 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $649.87, for a total value of $1,941,811.56. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Alex G. Balazs sold 2,941 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total value of $1,849,183.16. Following the sale, the executive vice president now owns 20 shares in the company, valued at approximately $12,575.20. This represents a 99.32 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,297 shares of company stock worth $35,220,046. 2.90% of the stock is currently owned by company insiders.

About Intuit

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.