Davis R M Inc. Sells 1,814 Shares of Intuit Inc. (NASDAQ:INTU)

Davis R M Inc. reduced its position in shares of Intuit Inc. (NASDAQ:INTU) by 1.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 139,271 shares of the software maker’s stock after selling 1,814 shares during the period. Intuit comprises about 1.7% of Davis R M Inc.’s investment portfolio, making the stock its 14th biggest position. Davis R M Inc.’s holdings in Intuit were worth $86,487,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its position in shares of Intuit by 68,404.7% during the 3rd quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock worth $300,768,000 after buying an additional 483,621 shares during the period. Vaughan Nelson Investment Management L.P. bought a new position in Intuit during the 2nd quarter worth approximately $184,982,000. Ameriprise Financial Inc. boosted its stake in Intuit by 17.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock worth $1,062,578,000 after acquiring an additional 238,486 shares during the last quarter. Clearbridge Investments LLC boosted its stake in Intuit by 21.3% during the 2nd quarter. Clearbridge Investments LLC now owns 964,328 shares of the software maker’s stock worth $633,766,000 after acquiring an additional 169,190 shares during the last quarter. Finally, Seven Post Investment Office LP bought a new position in Intuit during the 2nd quarter worth approximately $107,513,000. 83.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Scotiabank initiated coverage on shares of Intuit in a research note on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective on the stock. StockNews.com lowered shares of Intuit from a “buy” rating to a “hold” rating in a research note on Friday. Royal Bank of Canada reissued an “outperform” rating and issued a $760.00 price objective on shares of Intuit in a research report on Friday. BMO Capital Markets boosted their price objective on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Finally, Barclays cut their price objective on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research report on Friday. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Intuit has a consensus rating of “Moderate Buy” and a consensus price target of $737.44.

Intuit Trading Down 5.7 %

INTU stock opened at $640.12 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The company’s 50-day simple moving average is $634.81 and its 200 day simple moving average is $631.19. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78. The company has a market capitalization of $179.26 billion, a PE ratio of 62.15, a price-to-earnings-growth ratio of 3.13 and a beta of 1.25.

Intuit (NASDAQ:INTU) last released 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. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same period in the prior year, the company posted $1.14 earnings per share. Intuit’s revenue was up 10.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Intuit Inc. will post 14.05 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Laura A. Fennell sold 30,159 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the completion of the sale, the executive vice president now owns 52,038 shares of the company’s stock, valued at $33,427,129.68. This represents a 36.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Sandeep Aujla sold 862 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total transaction of $535,327.86. Following the sale, the chief financial officer now directly owns 3,840 shares of the company’s stock, valued at $2,384,755.20. This represents a 18.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,265 shares of company stock valued at $35,200,125 over the last quarter. 2.90% of the stock is owned by company insiders.

Intuit 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.