World Equity Group Inc. Makes New $250,000 Investment in Intuit Inc. (NASDAQ:INTU)

World Equity Group Inc. purchased a new stake in Intuit Inc. (NASDAQ:INTU) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 398 shares of the software maker’s stock, valued at approximately $250,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. State Street Corp raised its holdings in shares of Intuit by 1.8% in the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after acquiring an additional 221,885 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Intuit by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker’s stock valued at $3,701,762,000 after acquiring an additional 80,463 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Intuit by 2.9% in the 3rd quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock valued at $2,376,984,000 after acquiring an additional 107,482 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Intuit by 4.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,300,789 shares of the software maker’s stock valued at $1,428,790,000 after acquiring an additional 87,517 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Intuit by 1.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,688,445 shares of the software maker’s stock valued at $1,048,524,000 after acquiring an additional 26,914 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Price Performance

Shares of Intuit stock opened at $567.24 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78. The stock has a market capitalization of $158.78 billion, a P/E ratio of 55.07, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. The business’s 50 day simple moving average is $610.15 and its two-hundred day simple moving average is $628.07.

Insider Activity at Intuit

In related news, insider Scott D. Cook sold 73,655 shares of Intuit stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $664.94, for a total transaction of $48,976,155.70. Following the sale, the insider now directly owns 6,301,286 shares in the company, valued at $4,189,977,112.84. The trade was a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Sandeep Aujla sold 109 shares of Intuit stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total value of $68,506.50. Following the sale, the chief financial officer now owns 1,944 shares in the company, valued at $1,221,804. This represents a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 218,014 shares of company stock worth $140,855,687 over the last ninety days. 2.68% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have weighed in on INTU shares. Stifel Nicolaus lowered their price target on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $760.00 price target on shares of Intuit in a report on Friday, November 22nd. Barclays decreased their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Redburn Atlantic began coverage on Intuit in a report on Wednesday, February 19th. They set a “neutral” rating on the stock. Finally, Jefferies Financial Group raised their price objective on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $726.71.

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.