Gulf International Bank UK Ltd Lowers Stake in Intuit Inc. (NASDAQ:INTU)

Gulf International Bank UK Ltd reduced its position in shares of Intuit Inc. (NASDAQ:INTU) by 1.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,722 shares of the software maker’s stock after selling 241 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Intuit were worth $13,652,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. R Squared Ltd purchased a new position in shares of Intuit in the fourth quarter worth approximately $25,000. Heck Capital Advisors LLC purchased a new position in Intuit during the fourth quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Intuit in the fourth quarter worth $28,000. Sugar Maple Asset Management LLC purchased a new position in shares of Intuit in the fourth quarter worth $29,000. Finally, Denver PWM LLC purchased a new position in shares of Intuit in the third quarter worth $32,000. 83.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on INTU. Scotiabank began coverage on shares of Intuit in a research report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price target on the stock. Oppenheimer raised their target price on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. BMO Capital Markets reduced their price target on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a report on Wednesday. Barclays reduced their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Finally, Morgan Stanley raised Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price target on the stock in a research report on Wednesday. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Intuit has a consensus rating of “Moderate Buy” and a consensus price target of $723.76.

Intuit Stock Performance

Shares of NASDAQ INTU opened at $625.51 on Thursday. The company has a market capitalization of $175.09 billion, a PE ratio of 60.73, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The company’s fifty day moving average price is $607.22 and its 200 day moving average price is $627.53. Intuit Inc. has a 1 year low of $553.24 and a 1 year high of $714.78.

Insiders Place Their Bets

In other news, CAO Lauren D. Hotz sold 1,078 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the sale, the chief accounting officer now directly owns 1,864 shares in the company, valued at $1,154,337.92. The trade was a 36.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total value of $47,257,500.00. Following the transaction, the chief executive officer now directly owns 35,776 shares of the company’s stock, valued at approximately $22,542,457.60. The trade was a 67.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 218,014 shares of company stock worth $140,855,687. Company insiders own 2.68% of the company’s stock.

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.