Intuit Inc. (NASDAQ:INTU) Stock Holdings Lowered by DSM Capital Partners LLC

DSM Capital Partners LLC lowered its stake in Intuit Inc. (NASDAQ:INTU) by 3.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 678,392 shares of the software maker’s stock after selling 21,716 shares during the quarter. Intuit accounts for 5.0% of DSM Capital Partners LLC’s portfolio, making the stock its 7th largest position. DSM Capital Partners LLC owned about 0.24% of Intuit worth $310,833,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Aspire Private Capital LLC purchased a new stake in Intuit in the first quarter worth approximately $12,037,410,000. Raleigh Capital Management Inc. raised its position in Intuit by 100.0% in the first quarter. Raleigh Capital Management Inc. now owns 58 shares of the software maker’s stock worth $26,000 after acquiring an additional 29 shares during the period. Barrett & Company Inc. bought a new position in Intuit in the first quarter worth approximately $29,000. WealthPLAN Partners LLC bought a new position in Intuit in the first quarter worth approximately $34,000. Finally, GPS Wealth Strategies Group LLC raised its position in Intuit by 71.1% in the second quarter. GPS Wealth Strategies Group LLC now owns 77 shares of the software maker’s stock worth $35,000 after acquiring an additional 32 shares during the period. Hedge funds and other institutional investors own 82.63% of the company’s stock.

Insider Activity at Intuit

In related news, EVP Mark P. Notarainni sold 358 shares of Intuit stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $511.29, for a total transaction of $183,041.82. Following the completion of the sale, the executive vice president now owns 869 shares in the company, valued at approximately $444,311.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Marianna Tessel sold 7,310 shares of the business’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $531.31, for a total value of $3,883,876.10. Following the completion of the sale, the executive vice president now owns 28,840 shares in the company, valued at approximately $15,322,980.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Mark P. Notarainni sold 358 shares of the business’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $511.29, for a total transaction of $183,041.82. Following the completion of the sale, the executive vice president now owns 869 shares of the company’s stock, valued at approximately $444,311.01. The disclosure for this sale can be found here. Insiders sold 41,073 shares of company stock worth $22,091,651 in the last 90 days. 3.18% of the stock is owned by corporate insiders.

Intuit Price Performance

Shares of NASDAQ:INTU traded down $1.95 on Tuesday, reaching $562.55. The company’s stock had a trading volume of 152,364 shares, compared to its average volume of 1,569,339. Intuit Inc. has a 52-week low of $370.62 and a 52-week high of $567.03. The company has a 50-day simple moving average of $521.31 and a 200 day simple moving average of $490.03. The company has a market cap of $157.68 billion, a P/E ratio of 66.88, a PEG ratio of 3.37 and a beta of 1.20. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.47 and a current ratio of 1.47.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, August 24th. The software maker reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.22. Intuit had a net margin of 16.59% and a return on equity of 16.61%. The company had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.64 billion. During the same quarter last year, the business posted $0.22 EPS. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. As a group, equities research analysts anticipate that Intuit Inc. will post 11.25 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

INTU has been the topic of several recent research reports. Bank of America increased their price target on shares of Intuit from $530.00 to $580.00 and gave the stock a “buy” rating in a research report on Friday, August 25th. Argus raised their price objective on shares of Intuit from $580.00 to $640.00 and gave the company a “buy” rating in a research report on Wednesday, September 6th. Wolfe Research raised their price objective on shares of Intuit from $600.00 to $660.00 and gave the company an “outperform” rating in a research report on Friday, September 29th. UBS Group raised their price objective on shares of Intuit from $520.00 to $540.00 and gave the company a “neutral” rating in a research report on Friday, August 25th. Finally, Evercore ISI raised their price objective on shares of Intuit from $505.00 to $530.00 and gave the company an “outperform” rating in a research report on Friday, August 25th. Three research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $567.41.

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.