Intuit Inc. (NASDAQ:INTU) Holdings Decreased by Parallel Advisors LLC
Parallel Advisors LLC reduced its stake in shares of Intuit Inc. (NASDAQ:INTU) by 3.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,562 shares of the software maker’s stock after selling 131 shares during the quarter. Parallel Advisors LLC’s holdings in Intuit were worth $931,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in Intuit by 2.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 727,285 shares of the software maker’s stock worth $143,169,000 after purchasing an additional 19,825 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Intuit by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 3,709,006 shares of the software maker’s stock worth $728,975,000 after buying an additional 118,956 shares in the last quarter. Financial Gravity Wealth Inc. purchased a new stake in shares of Intuit during the first quarter worth $28,000. Boenning & Scattergood Inc. purchased a new stake in shares of Intuit during the first quarter worth $221,000. Finally, Chicago Partners Investment Group LLC purchased a new stake in shares of Intuit in the first quarter valued at about $516,000. Hedge funds and other institutional investors own 89.76% of the company’s stock.
A number of equities research analysts recently issued reports on the stock. UBS Group upped their price objective on shares of Intuit from $245.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, May 24th. BidaskClub raised shares of Intuit from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 9th. ValuEngine cut shares of Intuit from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 26th. Barclays upped their target price on shares of Intuit from $225.00 to $237.00 and gave the company an “equal weight” rating in a research report on Friday, May 24th. Finally, Morgan Stanley upped their target price on shares of Intuit from $239.00 to $244.00 and gave the company an “equal weight” rating in a research report on Friday, May 24th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Intuit currently has an average rating of “Buy” and an average price target of $254.15.
Shares of INTU stock traded up $4.29 during trading hours on Wednesday, reaching $277.13. 285,544 shares of the stock were exchanged, compared to its average volume of 1,167,378. The business’s fifty day moving average is $275.92 and its two-hundred day moving average is $256.66. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.85 and a quick ratio of 1.85. Intuit Inc. has a 12-month low of $182.61 and a 12-month high of $284.97. The firm has a market capitalization of $70.73 billion, a P/E ratio of 61.18, a P/E/G ratio of 2.72 and a beta of 1.10.
Intuit (NASDAQ:INTU) last released its earnings results on Thursday, May 23rd. The software maker reported $5.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $5.12 by $0.43. Intuit had a net margin of 24.34% and a return on equity of 52.65%. The firm had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.23 billion. During the same period in the prior year, the firm earned $4.82 earnings per share. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. As a group, equities research analysts predict that Intuit Inc. will post 5.49 earnings per share for the current fiscal year.
Intuit Company Profile
Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.
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