Iyo Bank Ltd. Buys 1,120 Shares of Intuit Inc. (NASDAQ:INTU)

Iyo Bank Ltd. lifted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 13.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 9,303 shares of the software maker’s stock after buying an additional 1,120 shares during the quarter. Intuit comprises about 2.0% of Iyo Bank Ltd.’s portfolio, making the stock its 15th largest holding. Iyo Bank Ltd.’s holdings in Intuit were worth $5,847,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Impact Investors Inc acquired a new position in Intuit in the 4th quarter valued at $434,000. Weil Company Inc. boosted its position in shares of Intuit by 2.6% in the fourth quarter. Weil Company Inc. now owns 5,898 shares of the software maker’s stock valued at $3,707,000 after acquiring an additional 149 shares during the period. Lake Street Advisors Group LLC grew its stake in shares of Intuit by 4.5% in the fourth quarter. Lake Street Advisors Group LLC now owns 5,033 shares of the software maker’s stock valued at $3,163,000 after acquiring an additional 216 shares in the last quarter. Kirtland Hills Capital Management LLC grew its stake in shares of Intuit by 1.6% in the fourth quarter. Kirtland Hills Capital Management LLC now owns 4,809 shares of the software maker’s stock valued at $3,023,000 after acquiring an additional 74 shares in the last quarter. Finally, FFT Wealth Management LLC increased its position in Intuit by 41.9% during the fourth quarter. FFT Wealth Management LLC now owns 1,787 shares of the software maker’s stock worth $1,123,000 after acquiring an additional 528 shares during the period. Institutional investors own 83.66% of the company’s stock.

Insider Transactions at Intuit

In related news, CFO Sandeep Aujla sold 109 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $628.50, for a total transaction of $68,506.50. Following the completion of the transaction, the chief financial officer now directly owns 1,944 shares of the company’s stock, valued at $1,221,804. This trade represents a 5.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Scott D. Cook sold 73,655 shares of Intuit stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $664.94, for a total value of $48,976,155.70. Following the transaction, the insider now directly owns 6,301,286 shares in the company, valued at $4,189,977,112.84. The trade was a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 218,014 shares of company stock worth $140,855,687. Insiders own 2.68% of the company’s stock.

Intuit Price Performance

Shares of INTU opened at $555.63 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a market cap of $155.53 billion, a PE ratio of 53.94, a PEG ratio of 2.85 and a beta of 1.24. Intuit Inc. has a 12-month low of $553.24 and a 12-month high of $714.78. The business has a 50-day simple moving average of $607.70 and a two-hundred day simple moving average of $627.55.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on INTU shares. Scotiabank assumed coverage on shares of Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 target price on the stock. JPMorgan Chase & Co. raised their price objective on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Oppenheimer upped their target price on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, Barclays dropped their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $726.71.

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.