Lansing Street Advisors Takes $455,000 Position in Intuit Inc. (NASDAQ:INTU)

Lansing Street Advisors bought a new stake in shares of Intuit Inc. (NASDAQ:INTU) in the fourth quarter, Holdings Channel reports. The institutional investor bought 724 shares of the software maker’s stock, valued at approximately $455,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Holocene Advisors LP raised its holdings in Intuit by 99.6% during the 3rd quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock valued at $388,487,000 after buying an additional 312,212 shares during the period. Nordea Investment Management AB raised its holdings in Intuit by 83.2% during the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after buying an additional 268,060 shares during the period. State Street Corp raised its holdings in Intuit by 1.8% during the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after buying an additional 221,885 shares during the period. Union Bancaire Privee UBP SA purchased a new stake in Intuit during the 4th quarter valued at $104,278,000. Finally, Jacobs Levy Equity Management Inc. raised its holdings in Intuit by 85.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 358,834 shares of the software maker’s stock valued at $222,836,000 after buying an additional 165,805 shares during the period. 83.66% of the stock is currently owned by institutional investors.

Insider Transactions at Intuit

In related news, CAO Lauren D. Hotz sold 1,078 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the sale, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at $1,154,337.92. This trade represents a 36.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $641.82, for a total value of $48,136,500.00. Following the sale, the insider now directly owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. The trade was a 1.16 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 293,014 shares of company stock valued at $188,992,187. 2.68% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Stifel Nicolaus decreased their price target on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Jefferies Financial Group increased their price target on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Morgan Stanley increased their price target on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. increased their target price on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Finally, Redburn Atlantic initiated coverage on Intuit in a research note on Wednesday. They issued a “neutral” rating on the stock. 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 company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $726.53.

Intuit Price Performance

INTU opened at $565.47 on Friday. Intuit Inc. has a 12-month low of $557.29 and a 12-month 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 business’s fifty day simple moving average is $612.23 and its 200-day simple moving average is $628.35. The company has a market capitalization of $158.28 billion, a price-to-earnings ratio of 54.90, a PEG ratio of 2.85 and a beta of 1.24.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the prior year, the company earned $1.14 EPS. The business’s revenue was up 10.2% compared to the same quarter last year. On average, equities research analysts anticipate that Intuit Inc. will post 14.09 earnings per share 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.