Korea Investment CORP trimmed its position in Intuit Inc. (NASDAQ:INTU – Free Report) by 19.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 248,348 shares of the software maker’s stock after selling 58,686 shares during the quarter. Korea Investment CORP owned 0.09% of Intuit worth $113,791,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Mogy Joel R Investment Counsel Inc. grew its stake in shares of Intuit by 0.5% in the first quarter. Mogy Joel R Investment Counsel Inc. now owns 73,174 shares of the software maker’s stock worth $32,623,000 after purchasing an additional 375 shares during the last quarter. KCM Investment Advisors LLC raised its position in shares of Intuit by 22.9% during the first quarter. KCM Investment Advisors LLC now owns 714 shares of the software maker’s stock worth $318,000 after acquiring an additional 133 shares during the last quarter. Ethic Inc. lifted its stake in shares of Intuit by 31.3% in the first quarter. Ethic Inc. now owns 19,581 shares of the software maker’s stock worth $8,730,000 after acquiring an additional 4,663 shares during the period. abrdn plc boosted its holdings in Intuit by 5.8% in the second quarter. abrdn plc now owns 229,932 shares of the software maker’s stock valued at $105,353,000 after acquiring an additional 12,607 shares during the last quarter. Finally, HB Wealth Management LLC increased its position in Intuit by 5.7% during the 2nd quarter. HB Wealth Management LLC now owns 3,311 shares of the software maker’s stock valued at $1,517,000 after purchasing an additional 179 shares during the period. Institutional investors own 82.63% of the company’s stock.
Analyst Upgrades and Downgrades
INTU has been the topic of a number of analyst reports. Piper Sandler reiterated an “overweight” rating and set a $642.00 price objective on shares of Intuit in a research note on Friday, September 29th. UBS Group raised their price target on Intuit from $520.00 to $540.00 and gave the stock a “neutral” rating in a research report on Friday, August 25th. Evercore ISI lifted their price target on Intuit from $505.00 to $530.00 and gave the company an “outperform” rating in a research report on Friday, August 25th. Stifel Nicolaus increased their target price on Intuit from $475.00 to $550.00 and gave the stock a “buy” rating in a research note on Friday, August 25th. Finally, Citigroup boosted their price objective on shares of Intuit from $495.00 to $565.00 and gave the company a “buy” rating in a report on Monday, August 28th. Three research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $567.41.
Intuit Stock Down 0.3 %
NASDAQ:INTU traded down $1.79 during trading hours on Tuesday, hitting $562.71. The stock had a trading volume of 334,923 shares, compared to its average volume of 1,570,155. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.35. Intuit Inc. has a 1-year low of $370.62 and a 1-year high of $567.03. The business has a 50 day simple moving average of $521.31 and a two-hundred day simple moving average of $490.03. The company has a market cap of $157.73 billion, a PE ratio of 66.88, a price-to-earnings-growth ratio of 3.37 and a beta of 1.20.
Intuit (NASDAQ:INTU – Get Free Report) last posted its earnings results on Thursday, August 24th. The software maker reported $1.65 EPS for the quarter, beating the consensus estimate of $1.43 by $0.22. Intuit had a return on equity of 16.61% and a net margin of 16.59%. The company had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.64 billion. During the same period in the prior year, the company earned $0.22 earnings per share. The business’s revenue was up 12.3% compared to the same quarter last year. Analysts predict that Intuit Inc. will post 11.25 EPS for the current year.
Insider Buying and Selling
In related news, EVP Mark P. Notarainni sold 358 shares of Intuit stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $511.29, for a total value of $183,041.82. Following the completion of the transaction, the executive vice president now directly owns 869 shares of the company’s stock, valued at $444,311.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Sandeep Aujla sold 696 shares of Intuit stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $511.29, for a total transaction of $355,857.84. Following the transaction, the chief financial officer now owns 1,098 shares in the company, valued at approximately $561,396.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark P. Notarainni sold 358 shares of the firm’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $511.29, for a total transaction of $183,041.82. Following the transaction, the executive vice president now directly owns 869 shares of the company’s stock, valued at $444,311.01. The disclosure for this sale can be found here. Insiders have sold 41,073 shares of company stock worth $22,091,651 in the last quarter. 3.18% of the stock is currently owned by company insiders.
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.
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