Sompo Asset Management Co. Ltd. Has $1.80 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Sompo Asset Management Co. Ltd. decreased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 36.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,900 shares of the software maker’s stock after selling 1,660 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in Intuit were worth $1,801,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC grew its stake in shares of Intuit by 68,404.7% in the 3rd quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock valued at $300,768,000 after buying an additional 483,621 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new stake in Intuit in the 2nd quarter valued at $184,982,000. Ameriprise Financial Inc. increased its position 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 worth $1,062,578,000 after acquiring an additional 238,486 shares in the last quarter. Clearbridge Investments LLC raised its stake in shares of Intuit by 21.3% in the second quarter. Clearbridge Investments LLC now owns 964,328 shares of the software maker’s stock worth $633,766,000 after purchasing 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 valued at $107,513,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Stock Performance

Shares of NASDAQ INTU 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 firm has a market capitalization of $179.31 billion, a price-to-earnings ratio of 62.15, a price-to-earnings-growth ratio of 3.32 and a beta of 1.25. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The firm has a 50 day moving average of $634.81 and a 200 day moving average of $631.20.

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

Insider Activity

In related news, EVP Kerry J. Mclean sold 11,079 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the completion of the sale, the executive vice president now owns 24,941 shares in the company, valued at approximately $15,752,985.01. This trade represents a 30.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Sandeep Aujla sold 775 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total value of $466,015.25. Following the completion of the transaction, the chief financial officer now directly owns 4,451 shares in the company, valued at approximately $2,676,430.81. This represents a 14.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,297 shares of company stock worth $35,220,046 in the last three months. Company insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on INTU shares. Susquehanna reissued a “positive” rating and issued a $757.00 price target on shares of Intuit in a report on Friday, August 16th. Piper Sandler cut their price target on Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a research note on Friday. Bank of America upped their price objective on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Scotiabank initiated coverage on shares of Intuit in a report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price objective for the company. Finally, StockNews.com cut Intuit from a “buy” rating to a “hold” rating 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 company’s stock. According to data from MarketBeat.com, Intuit presently has a consensus rating of “Moderate Buy” and a consensus price target of $737.44.

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.