5,310 Shares in Intuit Inc. (NASDAQ:INTU) Purchased by Pacific Point Advisors LLC

Pacific Point Advisors LLC purchased a new stake in Intuit Inc. (NASDAQ:INTU) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 5,310 shares of the software maker’s stock, valued at approximately $3,142,000. Intuit accounts for approximately 1.9% of Pacific Point Advisors LLC’s investment portfolio, making the stock its 9th biggest position.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Ameritas Advisory Services LLC raised its stake in shares of Intuit by 187.0% in the 4th quarter. Ameritas Advisory Services LLC now owns 1,016 shares of the software maker’s stock valued at $639,000 after acquiring an additional 662 shares in the last quarter. Koshinski Asset Management Inc. lifted its holdings in shares of Intuit by 11.9% during the 4th quarter. Koshinski Asset Management Inc. now owns 1,090 shares of the software maker’s stock worth $685,000 after acquiring an additional 116 shares during the period. Pure Financial Advisors LLC acquired a new stake in shares of Intuit during the 4th quarter worth about $204,000. XML Financial LLC increased its position in shares of Intuit by 20.1% during the 4th quarter. XML Financial LLC now owns 395 shares of the software maker’s stock worth $248,000 after purchasing an additional 66 shares in the last quarter. Finally, Park Place Capital Corp increased its position in shares of Intuit by 15.7% during the 4th quarter. Park Place Capital Corp now owns 310 shares of the software maker’s stock worth $195,000 after purchasing an additional 42 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Transactions at Intuit

In other Intuit news, Director Eve B. Burton sold 1,702 shares of Intuit stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total value of $1,021,200.00. Following the transaction, the director now owns 8 shares in the company, valued at $4,800. This trade represents a 99.53% decrease in their position. 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 6,446 shares of Intuit stock in a transaction on Friday, February 28th. The shares were sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the completion of the transaction, the insider now owns 6,219,900 shares in the company, valued at approximately $3,758,436,774. This trade represents a 0.10% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,696 shares of company stock worth $14,347,731. Company insiders own 2.68% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Morgan Stanley lowered their price objective on shares of Intuit from $730.00 to $720.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. The Goldman Sachs Group reissued a “buy” rating and set a $750.00 price objective on shares of Intuit in a research note on Monday. Mizuho lifted their price target on shares of Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research note on Monday, March 3rd. Jefferies Financial Group lowered their price objective on shares of Intuit from $800.00 to $735.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Finally, Oppenheimer lowered their price objective on shares of Intuit from $722.00 to $642.00 and set an “outperform” rating on the stock in a report on Friday, April 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $719.06.

Intuit Trading Up 0.9%

INTU stock opened at $666.07 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $723.44. The stock has a market cap of $186.21 billion, a price-to-earnings ratio of 64.67, a PEG ratio of 2.85 and a beta of 1.24. The business’s 50-day moving average is $614.34 and its 200 day moving average is $620.51.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, beating analysts’ consensus estimates of $10.89 by $0.76. The firm had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.56 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the firm posted $9.88 earnings per share. On average, sell-side analysts anticipate that Intuit Inc. will post 14.09 EPS 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.