Freedom Day Solutions LLC Raises Holdings in Intuit Inc. (NASDAQ:INTU)

Freedom Day Solutions LLC boosted its position in Intuit Inc. (NASDAQ:INTU) by 2.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,282 shares of the software maker’s stock after purchasing an additional 96 shares during the period. Freedom Day Solutions LLC’s holdings in Intuit were worth $2,691,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. R Squared Ltd purchased a new position in Intuit in the 4th quarter valued at approximately $25,000. Northwest Investment Counselors LLC purchased a new position in Intuit in the 3rd quarter valued at approximately $27,000. Heck Capital Advisors LLC purchased a new position in Intuit in the 4th quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Intuit in the 4th quarter valued at approximately $28,000. Finally, Sugar Maple Asset Management LLC purchased a new position in Intuit in the 4th quarter valued at approximately $29,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Price Performance

INTU stock opened at $582.19 on Thursday. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78. The stock has a market capitalization of $162.97 billion, a price-to-earnings ratio of 56.52, a price-to-earnings-growth ratio of 2.89 and a beta of 1.24. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock’s fifty day simple moving average is $615.92 and its 200-day simple moving average is $628.85.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating 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 firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter last year, the firm earned $1.14 earnings per share. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. Equities research analysts expect that Intuit Inc. will post 14.09 EPS for the current year.

Insider Activity at Intuit

In related news, EVP Laura A. Fennell sold 4,788 shares of Intuit stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total value of $2,938,012.56. Following the transaction, the executive vice president now owns 30,010 shares in the company, valued at approximately $18,414,736.20. This trade represents a 13.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 completion of the transaction, the insider now directly owns 6,378,105 shares in the company, valued at $4,093,595,351.10. This trade represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 293,014 shares of company stock worth $188,992,187. 2.68% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Royal Bank of Canada reissued an “outperform” rating and set a $760.00 price target on shares of Intuit in a research report on Friday, November 22nd. Stifel Nicolaus dropped their price target on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Scotiabank began coverage on Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target for the company. Finally, Piper Sandler reissued an “overweight” rating and set a $765.00 price target on shares of Intuit in a research report on Friday, January 10th. 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $726.53.

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.