Intuit Inc. (NASDAQ:INTU) Position Reduced by Pacer Advisors Inc.

Pacer Advisors Inc. cut its position in shares of Intuit Inc. (NASDAQ:INTU) by 3.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 40,196 shares of the software maker’s stock after selling 1,425 shares during the quarter. Pacer Advisors Inc.’s holdings in Intuit were worth $24,962,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its stake in Intuit by 10.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,014,972 shares of the software maker’s stock valued at $630,298,000 after buying an additional 98,406 shares in the last quarter. Integrated Investment Consultants LLC lifted its position in shares of Intuit by 15.5% in the third quarter. Integrated Investment Consultants LLC now owns 1,066 shares of the software maker’s stock worth $662,000 after purchasing an additional 143 shares in the last quarter. LPL Financial LLC lifted its position in shares of Intuit by 6.5% in the third quarter. LPL Financial LLC now owns 195,175 shares of the software maker’s stock worth $121,203,000 after purchasing an additional 11,927 shares in the last quarter. Landscape Capital Management L.L.C. purchased a new stake in shares of Intuit in the third quarter worth approximately $4,069,000. Finally, Citizens Financial Group Inc. RI lifted its position in shares of Intuit by 4.7% in the third quarter. Citizens Financial Group Inc. RI now owns 13,423 shares of the software maker’s stock worth $8,336,000 after purchasing an additional 608 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Jefferies Financial Group increased their price target on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday. StockNews.com lowered shares of Intuit from a “buy” rating to a “hold” rating in a research report on Friday. Bank of America increased their price target on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. JPMorgan Chase & Co. increased their price target on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Barclays dropped their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $737.44.

Insider Transactions at Intuit

In other news, EVP Alex G. Balazs sold 2,941 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total value of $1,849,183.16. Following the sale, the executive vice president now owns 20 shares in the company, valued at approximately $12,575.20. This trade represents a 99.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Sandeep Aujla sold 775 shares of the firm’s stock in a transaction on Thursday, October 3rd. The stock was 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 in the company, valued at approximately $2,676,430.81. The trade was a 14.83 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,297 shares of company stock worth $35,220,046. Insiders own 2.90% of the company’s stock.

Intuit Trading Down 5.7 %

Shares of INTU stock opened at $640.12 on Friday. Intuit Inc. has a 12 month low of $557.29 and a 12 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 business’s 50 day moving average is $634.81 and its two-hundred day moving average is $631.27. The company has a market cap of $179.31 billion, a PE ratio of 61.26, a price-to-earnings-growth ratio of 3.15 and a beta of 1.25.

Intuit (NASDAQ:INTU) last announced 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 return on equity of 18.64% and a net margin of 18.19%. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter last year, the company posted $1.14 earnings per share. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. Equities analysts predict that Intuit Inc. will post 14.05 EPS for the current year.

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.