Legacy Capital Group California Inc. Lowers Stock Position in Intuit Inc. (NASDAQ:INTU)

Legacy Capital Group California Inc. lessened its holdings in Intuit Inc. (NASDAQ:INTU) by 3.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,469 shares of the software maker’s stock after selling 49 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Intuit were worth $923,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Cromwell Holdings LLC lifted its position in Intuit by 6.7% during the fourth quarter. Cromwell Holdings LLC now owns 878 shares of the software maker’s stock valued at $552,000 after acquiring an additional 55 shares during the last quarter. Mattern Capital Management LLC lifted its position in Intuit by 12.2% during the fourth quarter. Mattern Capital Management LLC now owns 953 shares of the software maker’s stock valued at $599,000 after acquiring an additional 104 shares during the last quarter. First Bank & Trust lifted its position in Intuit by 1.5% during the fourth quarter. First Bank & Trust now owns 5,479 shares of the software maker’s stock valued at $3,444,000 after acquiring an additional 82 shares during the last quarter. Handelsbanken Fonder AB lifted its position in Intuit by 9.5% during the fourth quarter. Handelsbanken Fonder AB now owns 332,941 shares of the software maker’s stock valued at $209,253,000 after acquiring an additional 29,010 shares during the last quarter. Finally, Mcdaniel Terry & Co. lifted its position in Intuit by 0.5% during the fourth quarter. Mcdaniel Terry & Co. now owns 40,517 shares of the software maker’s stock valued at $25,465,000 after acquiring an additional 220 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Activity at Intuit

In related news, EVP Laura A. Fennell sold 4,788 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the completion of the sale, the executive vice president now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the sale, the insider now owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. The trade was a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 293,014 shares of company stock worth $188,992,187. 2.68% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

INTU has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upped their price target on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Redburn Atlantic initiated coverage on shares of Intuit in a research note on Wednesday. They set a “neutral” rating on the stock. Barclays cut their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Jefferies Financial Group upped their price target on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Finally, Oppenheimer upped their price target on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $726.53.

Intuit Stock Down 0.5 %

INTU stock opened at $579.08 on Friday. The firm has a market cap of $162.10 billion, a PE ratio of 56.22, a P/E/G ratio of 2.87 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 firm’s fifty day moving average is $614.05 and its 200 day moving average is $628.50. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the business earned $1.14 earnings per share. On average, research analysts forecast that Intuit Inc. will post 14.09 EPS for the current year.

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.