King Luther Capital Management Corp Sells 3,442 Shares of Intuit Inc. (NASDAQ:INTU)

King Luther Capital Management Corp lessened its holdings in Intuit Inc. (NASDAQ:INTU) by 4.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 70,366 shares of the software maker’s stock after selling 3,442 shares during the period. King Luther Capital Management Corp’s holdings in Intuit were worth $43,697,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Fortitude Family Office LLC increased its holdings in shares of Intuit by 2.8% in the 2nd quarter. Fortitude Family Office LLC now owns 582 shares of the software maker’s stock valued at $382,000 after acquiring an additional 16 shares during the period. WASHINGTON TRUST Co boosted its position in shares of Intuit by 10.5% in the 2nd quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker’s stock worth $110,000 after purchasing an additional 16 shares in the last quarter. Gemmer Asset Management LLC boosted its position in shares of Intuit by 3.7% in the 2nd quarter. Gemmer Asset Management LLC now owns 448 shares of the software maker’s stock worth $294,000 after purchasing an additional 16 shares in the last quarter. PFG Investments LLC boosted its position in shares of Intuit by 1.1% in the 2nd quarter. PFG Investments LLC now owns 1,558 shares of the software maker’s stock worth $1,024,000 after purchasing an additional 17 shares in the last quarter. Finally, Plancorp LLC lifted its position in Intuit by 2.0% during the 2nd quarter. Plancorp LLC now owns 881 shares of the software maker’s stock worth $579,000 after acquiring an additional 17 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insiders Place Their Bets

In other news, Director Eve B. Burton sold 2,988 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $649.87, for a total transaction of $1,941,811.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Sandeep Aujla sold 4,000 shares of the company’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $617.28, for a total value of $2,469,120.00. Following the sale, the chief financial officer now directly owns 452 shares in the company, valued at $279,010.56. This represents a 89.85 % 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 over the last ninety days. Corporate insiders own 2.90% of the company’s stock.

Intuit Trading Up 1.0 %

INTU opened at $650.60 on Thursday. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78. The stock has a market capitalization of $182.25 billion, a PE ratio of 62.26, a P/E/G ratio of 3.15 and a beta of 1.25. The business’s 50 day moving average price is $634.46 and its 200 day moving average price is $630.89. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The company had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same period in the prior year, the firm earned $0.40 earnings per share. The firm’s revenue was up 17.4% compared to the same quarter last year. As a group, equities research analysts expect that Intuit Inc. will post 14.05 EPS for the current year.

Wall Street Analyst Weigh In

INTU has been the subject of a number of research reports. BMO Capital Markets lifted their price target on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Stifel Nicolaus lifted their price target on Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Barclays boosted their price objective on Intuit from $740.00 to $800.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Scotiabank assumed coverage on Intuit in a report on Monday. They issued a “sector perform” rating and a $700.00 price objective for the company. Finally, Susquehanna reissued a “positive” rating and issued a $757.00 price objective on shares of Intuit in a report on Friday, August 16th. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $737.06.

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.