Intuit Inc. (NASDAQ:INTU) Shares Bought by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd grew its position in Intuit Inc. (NASDAQ:INTU) by 33.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,877 shares of the software maker’s stock after buying an additional 3,198 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Intuit were worth $7,995,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in INTU. LGT Financial Advisors LLC acquired a new position in Intuit during the second quarter worth about $25,000. Cultivar Capital Inc. acquired a new position in shares of Intuit during the 2nd quarter worth approximately $26,000. Fairway Wealth LLC purchased a new stake in Intuit in the 2nd quarter valued at approximately $26,000. Northwest Investment Counselors LLC purchased a new stake in Intuit in the 3rd quarter valued at approximately $27,000. Finally, Hobbs Group Advisors LLC acquired a new stake in Intuit during the 2nd quarter valued at $35,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Activity at Intuit

In related news, Director Eve B. Burton sold 2,988 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $649.87, for a total transaction of $1,941,811.56. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Sandeep Aujla sold 775 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The stock was 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 represents a 14.83 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,265 shares of company stock worth $35,200,125. 2.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on INTU shares. Royal Bank of Canada restated an “outperform” rating and issued a $760.00 price objective on shares of Intuit in a research report on Friday. Jefferies Financial Group upped their target price on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday. BMO Capital Markets raised their price target on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. StockNews.com lowered shares of Intuit from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Stifel Nicolaus decreased their target price on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research report on Friday. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $737.44.

Intuit Stock Performance

NASDAQ INTU opened at $640.12 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78. The firm has a market capitalization of $179.26 billion, a P/E ratio of 62.15, a P/E/G ratio of 3.13 and a beta of 1.25. The business’s 50-day simple moving average is $634.81 and its 200-day simple moving average is $631.19.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same period in the previous year, the company posted $1.14 earnings per share. Intuit’s revenue was up 10.2% compared to the same quarter last year. Equities analysts predict that Intuit Inc. will post 14.05 EPS for the current year.

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.