Accretive Wealth Partners LLC Sells 17 Shares of Intuit Inc. (NASDAQ:INTU)

Accretive Wealth Partners LLC decreased its position in Intuit Inc. (NASDAQ:INTU) by 0.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,853 shares of the software maker’s stock after selling 17 shares during the quarter. Accretive Wealth Partners LLC’s holdings in Intuit were worth $1,151,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in INTU. EntryPoint Capital LLC acquired a new position in Intuit in the first quarter worth $60,000. Canada Pension Plan Investment Board grew its holdings in Intuit by 2.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 139,026 shares of the software maker’s stock worth $90,367,000 after acquiring an additional 3,486 shares during the last quarter. LRI Investments LLC acquired a new stake in Intuit in the 1st quarter valued at about $346,000. BOKF NA raised its stake in shares of Intuit by 11.8% in the first quarter. BOKF NA now owns 20,539 shares of the software maker’s stock worth $13,142,000 after acquiring an additional 2,171 shares during the last quarter. Finally, Bamco Inc. NY lifted its position in shares of Intuit by 33.9% during the first quarter. Bamco Inc. NY now owns 23,419 shares of the software maker’s stock worth $15,222,000 after purchasing an additional 5,928 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In related news, insider Scott D. Cook sold 2,461 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total value of $1,568,124.59. Following the completion of the sale, the insider now directly owns 6,453,105 shares in the company, valued at approximately $4,111,853,974.95. The trade was a 0.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Sandeep Aujla sold 862 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the transaction, the chief financial officer now owns 3,840 shares in the company, valued at approximately $2,384,755.20. This trade represents a 18.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,297 shares of company stock worth $35,220,046 over the last ninety days. Insiders own 2.90% of the company’s stock.

Intuit Stock Performance

INTU opened at $679.40 on Friday. The business’s 50-day simple moving average is $635.12 and its 200 day simple moving average is $631.23. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The firm has a market capitalization of $190.31 billion, a PE ratio of 65.01, a PEG ratio of 3.15 and a beta of 1.25.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.14 EPS. As a group, sell-side analysts expect that Intuit Inc. will post 14.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Stifel Nicolaus lifted their price objective on Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Piper Sandler lowered their price target on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a research report on Friday. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a report on Monday, September 30th. Scotiabank initiated coverage on shares of Intuit in a report on Monday. They set a “sector perform” rating and a $700.00 target price for the company. Finally, BMO Capital Markets increased their price target on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $736.89.

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.