Iyo Bank Ltd. Purchases 1,120 Shares of Intuit Inc. (NASDAQ:INTU)

Iyo Bank Ltd. raised its position in shares of Intuit Inc. (NASDAQ:INTU) by 13.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,303 shares of the software maker’s stock after acquiring an additional 1,120 shares during the quarter. Intuit comprises 2.0% of Iyo Bank Ltd.’s investment portfolio, making the stock its 15th biggest holding. Iyo Bank Ltd.’s holdings in Intuit were worth $5,847,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Impact Investors Inc acquired a new position in shares of Intuit in the 4th quarter valued at about $434,000. Weil Company Inc. increased its holdings in Intuit by 2.6% in the fourth quarter. Weil Company Inc. now owns 5,898 shares of the software maker’s stock worth $3,707,000 after purchasing an additional 149 shares in the last quarter. Lake Street Advisors Group LLC increased its holdings in Intuit by 4.5% in the fourth quarter. Lake Street Advisors Group LLC now owns 5,033 shares of the software maker’s stock worth $3,163,000 after purchasing an additional 216 shares in the last quarter. Kirtland Hills Capital Management LLC lifted its stake in Intuit by 1.6% in the fourth quarter. Kirtland Hills Capital Management LLC now owns 4,809 shares of the software maker’s stock valued at $3,023,000 after buying an additional 74 shares during the period. Finally, FFT Wealth Management LLC grew its position in shares of Intuit by 41.9% during the 4th quarter. FFT Wealth Management LLC now owns 1,787 shares of the software maker’s stock worth $1,123,000 after buying an additional 528 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Stock Down 2.0 %

Shares of Intuit stock opened at $555.63 on Wednesday. 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 $553.24 and a 12-month high of $714.78. The company has a market cap of $155.53 billion, a P/E ratio of 53.94, a PEG ratio of 2.85 and a beta of 1.24. The company’s fifty day simple moving average is $607.70 and its two-hundred day simple moving average is $627.55.

Wall Street Analyst Weigh In

Several research firms recently issued reports on INTU. Jefferies Financial Group lifted their price target on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Morgan Stanley raised Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective on the stock in a research report on Wednesday. Redburn Atlantic began coverage on shares of Intuit in a research note on Wednesday, February 19th. They set a “neutral” rating for the company. Barclays dropped their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Finally, Oppenheimer raised their target price on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Intuit has an average rating of “Moderate Buy” and a consensus price target of $726.71.

Insider Activity

In other Intuit news, EVP Mark P. Notarainni sold 3,649 shares of the firm’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $646.68, for a total value of $2,359,735.32. Following the completion of the sale, the executive vice president now directly owns 19 shares in the company, valued at $12,286.92. This trade represents a 99.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total value of $47,257,500.00. Following the transaction, the chief executive officer now owns 35,776 shares in the company, valued at $22,542,457.60. This trade represents a 67.70 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 218,014 shares of company stock valued at $140,855,687. Corporate insiders own 2.68% of the company’s stock.

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.