Empowered Funds LLC Has $3.45 Million Stock Position in Intuit Inc. (NASDAQ:INTU)

Empowered Funds LLC lowered its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 15.4% in the third quarter, HoldingsChannel reports. The firm owned 5,556 shares of the software maker’s stock after selling 1,011 shares during the period. Empowered Funds LLC’s holdings in Intuit were worth $3,450,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of INTU. Fortitude Family Office LLC lifted its stake in shares of Intuit by 2.8% in the second quarter. Fortitude Family Office LLC now owns 582 shares of the software maker’s stock worth $382,000 after acquiring an additional 16 shares during the period. WASHINGTON TRUST Co lifted its position in shares of Intuit by 10.5% in the 2nd quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker’s stock worth $110,000 after purchasing an additional 16 shares during the period. Gemmer Asset Management LLC boosted its stake in shares of Intuit by 3.7% in the 2nd quarter. Gemmer Asset Management LLC now owns 448 shares of the software maker’s stock valued at $294,000 after purchasing an additional 16 shares during the last quarter. PFG Investments LLC increased its position in shares of Intuit by 1.1% during the second quarter. PFG Investments LLC now owns 1,558 shares of the software maker’s stock worth $1,024,000 after buying an additional 17 shares during the period. Finally, Plancorp LLC raised its stake in Intuit by 2.0% during the second quarter. Plancorp LLC now owns 881 shares of the software maker’s stock worth $579,000 after buying an additional 17 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Down 1.3 %

INTU opened at $678.81 on Tuesday. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The firm has a market capitalization of $190.26 billion, a P/E ratio of 64.96, a PEG ratio of 3.36 and a beta of 1.25. The company’s 50-day moving average is $634.11 and its 200 day moving average is $630.65. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. The firm had revenue of $3.18 billion for 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 company’s revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.40 EPS. Research analysts expect that Intuit Inc. will post 14.05 earnings per share for the current fiscal year.

Insider Activity

In other Intuit news, CFO Sandeep Aujla sold 862 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the completion of the sale, the chief financial officer now directly owns 3,840 shares of the company’s stock, valued at $2,384,755.20. This trade represents a 18.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Alex G. Balazs sold 2,941 shares of Intuit stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total value of $1,849,183.16. Following the completion of the sale, the executive vice president now directly owns 20 shares of the company’s stock, valued at approximately $12,575.20. This trade represents a 99.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,297 shares of company stock valued at $35,220,046 in the last ninety days. 2.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on INTU. JPMorgan Chase & Co. increased their price target on Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Jefferies Financial Group lifted their target price on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Susquehanna restated a “positive” rating and set a $757.00 price target on shares of Intuit in a report on Friday, August 16th. Piper Sandler reissued an “overweight” rating and set a $768.00 target price on shares of Intuit in a research note on Friday, September 27th. Finally, Scotiabank began coverage on shares of Intuit in a research note on Monday. They issued a “sector perform” rating and a $700.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $737.06.

Intuit Company 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.