Kestra Investment Management LLC Increases Holdings in Intuit Inc. (NASDAQ:INTU)

Kestra Investment Management LLC boosted its position in Intuit Inc. (NASDAQ:INTU) by 31.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 497 shares of the software maker’s stock after buying an additional 118 shares during the quarter. Kestra Investment Management LLC’s holdings in Intuit were worth $312,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Nordea Investment Management AB boosted its stake in shares of Intuit by 83.2% in the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after purchasing an additional 268,060 shares in the last quarter. Whalen Wealth Management Inc. bought a new stake in Intuit in the fourth quarter worth $621,000. Harvest Portfolios Group Inc. lifted its stake in Intuit by 5.4% in the third quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock worth $22,295,000 after purchasing an additional 1,853 shares during the last quarter. Retireful LLC purchased a new stake in Intuit during the third quarter valued at about $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Intuit during the third quarter valued at about $56,144,000. 83.66% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CAO Lauren D. Hotz sold 1,078 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the completion of the transaction, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at $1,154,337.92. This trade represents a 36.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction on Monday, November 25th. The shares were sold at an average price of $641.82, for a total value of $48,136,500.00. Following the transaction, the insider now owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. The trade was a 1.16 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 293,014 shares of company stock worth $188,992,187. Corporate insiders own 2.68% of the company’s stock.

Intuit Stock Up 0.4 %

Shares of NASDAQ:INTU opened at $582.19 on Thursday. The firm has a market capitalization of $162.97 billion, a P/E ratio of 56.52, a P/E/G ratio of 2.89 and a beta of 1.24. 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 stock has a 50 day moving average price of $615.92 and a 200-day moving average price of $628.85. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.14. The company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.14 earnings per share. As a group, equities research analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on INTU shares. Stifel Nicolaus dropped their target price on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Oppenheimer increased their price objective on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. lifted their target price on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Scotiabank started coverage on shares of Intuit in a report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target for the company. Finally, BNP Paribas lowered shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $726.53.

Intuit Company 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.