Cerity Partners LLC Raises Stake in Intuit Inc. (NASDAQ:INTU)

Cerity Partners LLC raised its holdings in Intuit Inc. (NASDAQ:INTU) by 17.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 154,005 shares of the software maker’s stock after acquiring an additional 22,884 shares during the period. Cerity Partners LLC’s holdings in Intuit were worth $95,637,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in INTU. Harvest Portfolios Group Inc. lifted its holdings in shares of Intuit by 5.4% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock worth $22,295,000 after acquiring an additional 1,853 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Intuit by 33.7% in the third quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock valued at $2,383,000 after acquiring an additional 968 shares in the last quarter. Retireful LLC bought a new stake in Intuit during the 3rd quarter valued at approximately $740,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Intuit in the third quarter worth $56,144,000. Finally, Cetera Advisors LLC grew its position in shares of Intuit by 33.4% in the 1st quarter. Cetera Advisors LLC now owns 10,607 shares of the software maker’s stock worth $6,895,000 after buying an additional 2,655 shares during the period. 83.66% of the stock is currently owned by institutional investors.

Intuit Trading Down 5.7 %

Shares of Intuit stock opened at $640.12 on Friday. The company has a 50-day moving average of $634.81 and a two-hundred day moving average of $631.27. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The stock has a market cap of $179.31 billion, a PE ratio of 62.15, a price-to-earnings-growth ratio of 3.32 and a beta of 1.25.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.14. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a return on equity of 18.28% and a net margin of 17.59%. Intuit’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the business posted $1.14 EPS. On average, research analysts anticipate that Intuit Inc. will post 14.05 EPS for the current fiscal year.

Analyst Ratings Changes

INTU has been the topic of several recent analyst reports. Piper Sandler cut their price objective on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a research report on Friday. JPMorgan Chase & Co. raised their target price on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research report on Friday. BMO Capital Markets raised their target price on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Scotiabank began coverage on shares of Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective on the stock. Finally, Stifel Nicolaus lowered their price target on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a report on Friday. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Intuit has an average rating of “Moderate Buy” and a consensus target price of $737.44.

Insider Buying and Selling

In related news, CFO Sandeep Aujla sold 862 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total transaction of $535,327.86. Following the sale, the chief financial officer now 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Laura A. Fennell sold 30,159 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the completion of the transaction, the executive vice president now directly owns 52,038 shares of the company’s stock, valued at $33,427,129.68. The trade was a 36.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,297 shares of company stock worth $35,220,046 in the last three months. Corporate insiders own 2.90% 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.