Commerce Bank Has $15.92 Million Holdings in Intuit Inc. (NASDAQ:INTU)

Commerce Bank lessened its stake in Intuit Inc. (NASDAQ:INTU) by 2.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,639 shares of the software maker’s stock after selling 543 shares during the quarter. Commerce Bank’s holdings in Intuit were worth $15,922,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in INTU. LGT Financial Advisors LLC acquired a new stake in Intuit in the 2nd quarter valued at about $25,000. Cultivar Capital Inc. acquired a new stake in Intuit in the 2nd quarter valued at about $26,000. Fairway Wealth LLC acquired a new stake in Intuit in the 2nd quarter valued at about $26,000. Northwest Investment Counselors LLC acquired a new stake in Intuit in the 3rd quarter valued at about $27,000. Finally, Hobbs Group Advisors LLC acquired a new stake in Intuit in the 2nd quarter valued at about $35,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. BMO Capital Markets lifted their price target on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Stifel Nicolaus lifted their price target on shares of Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Jefferies Financial Group lifted their price target on shares of Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Finally, Bank of America lifted 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. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $737.06.

Insider Activity

In related news, EVP Laura A. Fennell sold 30,159 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the transaction, the executive vice president now directly owns 52,038 shares in the company, valued at approximately $33,427,129.68. The trade was a 36.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Scott D. Cook sold 2,461 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the transaction, the insider now 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 disclosure for this sale can be found here. Insiders have sold 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 Price Performance

NASDAQ INTU opened at $650.60 on Thursday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78. The company has a market capitalization of $182.25 billion, a PE ratio of 62.26, a price-to-earnings-growth ratio of 3.36 and a beta of 1.25. The firm’s 50 day moving average is $634.46 and its 200-day moving average is $630.89.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The company had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same period last year, the company earned $0.40 earnings per share. The firm’s revenue was up 17.4% compared to the same quarter last year. Equities research analysts anticipate that Intuit Inc. will post 14.05 earnings per share for the current fiscal 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.