Wrapmanager Inc. Has $573,000 Stake in Intuit Inc. (NASDAQ:INTU)

Wrapmanager Inc. boosted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 154.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 922 shares of the software maker’s stock after acquiring an additional 560 shares during the quarter. Wrapmanager Inc.’s holdings in Intuit were worth $573,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Prospera Financial Services Inc raised its position in shares of Intuit by 1.8% during the third quarter. Prospera Financial Services Inc now owns 1,008 shares of the software maker’s stock worth $626,000 after purchasing an additional 18 shares during the period. Meeder Asset Management Inc. increased its holdings in shares of Intuit by 1.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 3,261 shares of the software maker’s stock worth $2,025,000 after acquiring an additional 40 shares during the last quarter. OneAscent Financial Services LLC acquired a new position in shares of Intuit during the 3rd quarter worth approximately $447,000. Caprock Group LLC grew its holdings in Intuit by 0.3% in the 3rd quarter. Caprock Group LLC now owns 7,066 shares of the software maker’s stock valued at $4,388,000 after buying an additional 19 shares in the last quarter. Finally, Pathstone Holdings LLC grew its holdings in Intuit by 0.6% in the 3rd quarter. Pathstone Holdings LLC now owns 54,609 shares of the software maker’s stock valued at $33,912,000 after buying an additional 330 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

NASDAQ:INTU opened at $678.81 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The business has a fifty day simple moving average of $634.11 and a two-hundred day simple moving average of $630.65. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78. The company has a market capitalization of $190.26 billion, a P/E ratio of 64.96, a P/E/G ratio of 3.36 and a beta of 1.25.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same period last year, the business posted $0.40 earnings per share. On average, analysts expect that Intuit Inc. will post 14.05 earnings per share for the current year.

Insider Activity

In other news, EVP Kerry J. Mclean sold 11,079 shares of Intuit stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total value of $6,997,607.19. Following the completion of the transaction, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $15,752,985.01. The trade was a 30.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sandeep Aujla sold 775 shares of Intuit stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total value of $466,015.25. Following the completion of the transaction, the chief financial officer now owns 4,451 shares of the company’s stock, valued at approximately $2,676,430.81. This trade represents a 14.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,297 shares of company stock worth $35,220,046. 2.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

INTU has been the subject of several recent analyst reports. Stifel Nicolaus upped their price objective on Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Susquehanna reissued a “positive” rating and issued a $757.00 price target on shares of Intuit in a research note on Friday, August 16th. Jefferies Financial Group increased their price target on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Piper Sandler reiterated an “overweight” rating and issued a $768.00 price target on shares of Intuit in a report on Friday, September 27th. Finally, JPMorgan Chase & Co. raised their target price on Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and a consensus target price of $737.06.

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.