Daiwa Securities Group Inc. Purchases 7,075 Shares of Intuit Inc. (NASDAQ:INTU)

Daiwa Securities Group Inc. increased its position in Intuit Inc. (NASDAQ:INTU) by 11.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,368 shares of the software maker’s stock after buying an additional 7,075 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Intuit were worth $41,214,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Legal & General Group Plc boosted its stake in shares of Intuit by 1.0% in the 2nd quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker’s stock valued at $1,538,236,000 after purchasing an additional 23,995 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Intuit by 1.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,688,445 shares of the software maker’s stock valued at $1,048,524,000 after buying an additional 26,914 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Intuit by 17.3% during the second quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock valued at $1,062,578,000 after buying an additional 238,486 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Intuit by 4.2% in the second quarter. Principal Financial Group Inc. now owns 1,407,862 shares of the software maker’s stock worth $925,262,000 after buying an additional 56,370 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Intuit by 10.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,014,972 shares of the software maker’s stock valued at $630,298,000 after acquiring an additional 98,406 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Sandeep Aujla sold 775 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total transaction of $466,015.25. Following the completion of the sale, the chief financial officer now owns 4,451 shares of the company’s stock, valued at $2,676,430.81. This trade represents a 14.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kerry J. Mclean sold 11,079 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 24,941 shares in the company, valued at $15,752,985.01. This trade represents a 30.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,297 shares of company stock valued at $35,220,046. Insiders own 2.90% of the company’s stock.

Intuit Stock Performance

Intuit stock opened at $640.12 on Friday. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $179.31 billion, a P/E ratio of 62.15, a PEG ratio of 3.32 and a beta of 1.25. The stock’s 50 day moving average is $634.81 and its 200 day moving average is $631.20.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a return on equity of 18.28% and a net margin of 17.59%. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.14 earnings per share. On average, equities research analysts predict that Intuit Inc. will post 14.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Barclays dropped their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday. BMO Capital Markets increased their target price on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Oppenheimer raised their target price on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research note on Friday. JPMorgan Chase & Co. upped their price target on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Morgan Stanley lifted their price objective on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research report on Friday. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $737.44.

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.