Caprock Group LLC Raises Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Caprock Group LLC lifted its position in shares of Intuit Inc. (NASDAQ:INTU) by 0.3% in the 3rd quarter, Holdings Channel reports. The fund owned 7,066 shares of the software maker’s stock after buying an additional 19 shares during the quarter. Caprock Group LLC’s holdings in Intuit were worth $4,388,000 as of its most recent filing with the SEC.

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

Insider Activity

In related news, CFO Sandeep Aujla sold 4,000 shares of the firm’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the sale, the chief financial officer now owns 452 shares of the company’s stock, valued at approximately $279,010.56. This trade represents a 89.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Kerry J. Mclean sold 11,079 shares of Intuit stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total value of $6,997,607.19. Following the completion of the sale, the executive vice president now directly owns 24,941 shares in the company, valued at $15,752,985.01. This represents a 30.76 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,297 shares of company stock valued at $35,220,046. Company insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on INTU shares. Susquehanna restated a “positive” rating and issued a $757.00 price target on shares of Intuit in a research report on Friday, August 16th. Bank of America boosted their target price on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research 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 research report on Friday, August 23rd. Morgan Stanley lowered Intuit from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $750.00 to $685.00 in a research report on Wednesday, August 14th. Finally, Scotiabank assumed coverage on Intuit in a research report on Monday. They set a “sector perform” rating and a $700.00 price target on the stock. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Intuit has a consensus rating of “Moderate Buy” and an average price target of $737.06.

Intuit Trading Down 1.3 %

Intuit stock opened at $678.81 on Tuesday. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78. The company has a market capitalization of $190.26 billion, a price-to-earnings ratio of 64.96, a PEG ratio of 3.36 and a beta of 1.25. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The company’s fifty day moving average price is $634.11 and its two-hundred day moving average price is $630.65.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.14. The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.40 EPS. On average, analysts forecast that Intuit Inc. will post 14.05 earnings per share for the current fiscal 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.