Legacy Capital Group California Inc. Sells 49 Shares of Intuit Inc. (NASDAQ:INTU)

Legacy Capital Group California Inc. decreased its position in shares of Intuit Inc. (NASDAQ:INTU) by 3.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,469 shares of the software maker’s stock after selling 49 shares during the period. Legacy Capital Group California Inc.’s holdings in Intuit were worth $923,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. R Squared Ltd bought a new stake in shares of Intuit during the 4th quarter valued at $25,000. Heck Capital Advisors LLC purchased a new position in shares of Intuit during the 4th quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Intuit during the 4th quarter valued at $28,000. Sugar Maple Asset Management LLC purchased a new position in shares of Intuit during the 4th quarter valued at $29,000. Finally, Denver PWM LLC purchased a new position in shares of Intuit during the 3rd quarter valued at $32,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Activity at Intuit

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $641.82, for a total value of $48,136,500.00. Following the transaction, the insider now directly owns 6,378,105 shares in the company, valued at $4,093,595,351.10. This represents a 1.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Laura A. Fennell sold 4,788 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the completion of the transaction, the executive vice president now owns 30,010 shares in the company, valued at $18,414,736.20. This represents a 13.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 293,014 shares of company stock worth $188,992,187. Insiders own 2.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on INTU shares. BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a research note on Wednesday, January 15th. Barclays lowered their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Oppenheimer lifted their target price on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. lifted their target price on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $760.00 price target on shares of Intuit in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $726.53.

Intuit Stock Performance

Shares of NASDAQ:INTU opened at $579.08 on Friday. The company has a market capitalization of $162.10 billion, a price-to-earnings ratio of 56.22, a PEG ratio of 2.87 and a beta of 1.24. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. The firm’s 50-day moving average is $614.05 and its 200 day moving average is $628.50. 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 (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.14 EPS. Research analysts predict that Intuit Inc. will post 14.09 EPS for the current year.

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.