Bryn Mawr Capital Management LLC Has $549,000 Stake in Intuit Inc. (NASDAQ:INTU)

Bryn Mawr Capital Management LLC trimmed its holdings in Intuit Inc. (NASDAQ:INTU) by 46.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 874 shares of the software maker’s stock after selling 763 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Intuit were worth $549,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Private Advisor Group LLC raised its position in shares of Intuit by 6.9% in the fourth quarter. Private Advisor Group LLC now owns 8,998 shares of the software maker’s stock valued at $5,655,000 after buying an additional 581 shares in the last quarter. Alberta Investment Management Corp bought a new position in Intuit in the fourth quarter valued at approximately $10,757,000. Lyell Wealth Management LP increased its stake in Intuit by 1.6% in the fourth quarter. Lyell Wealth Management LP now owns 31,234 shares of the software maker’s stock valued at $19,631,000 after acquiring an additional 501 shares during the last quarter. Global Retirement Partners LLC increased its stake in Intuit by 2.7% in the fourth quarter. Global Retirement Partners LLC now owns 1,848 shares of the software maker’s stock valued at $1,161,000 after acquiring an additional 48 shares during the last quarter. Finally, Davidson Investment Advisors increased its stake in Intuit by 1.3% in the fourth quarter. Davidson Investment Advisors now owns 41,940 shares of the software maker’s stock valued at $26,359,000 after acquiring an additional 553 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Intuit

In related news, EVP Alex G. Balazs sold 23,810 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total value of $15,856,983.80. Following the transaction, the executive vice president now owns 489 shares in the company, valued at $325,664.22. The trade was a 97.99 % decrease in their ownership of the stock. 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 the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the completion of the transaction, the insider now owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. The trade was a 1.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 293,014 shares of company stock worth $188,992,187 over the last quarter. Company insiders own 2.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on INTU. BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective on the stock. in a research note on Wednesday, January 15th. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Barclays decreased their price objective on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Piper Sandler reissued an “overweight” rating and issued a $765.00 price objective on shares of Intuit in a research note on Friday, January 10th. Finally, Jefferies Financial Group boosted their target price on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Intuit has an average rating of “Moderate Buy” and a consensus price target of $726.53.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $565.47 on Friday. The firm has a market cap of $158.29 billion, a PE ratio of 54.90, a price-to-earnings-growth ratio of 2.87 and a beta of 1.24. The firm’s fifty day moving average is $612.23 and its 200-day moving average is $628.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. 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 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. Intuit’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.14 earnings per share. Sell-side analysts predict that Intuit Inc. will post 14.09 earnings per share for the current year.

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.