Intuit Inc. (NASDAQ:INTU) Shares Sold by Summit Global Investments

Summit Global Investments decreased its holdings in Intuit Inc. (NASDAQ:INTU) by 1.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,889 shares of the software maker’s stock after selling 55 shares during the quarter. Summit Global Investments’ holdings in Intuit were worth $1,899,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. DiNuzzo Private Wealth Inc. acquired a new position in shares of Intuit during the fourth quarter valued at approximately $25,000. West Branch Capital LLC raised its holdings in shares of Intuit by 79.2% during the first quarter. West Branch Capital LLC now owns 43 shares of the software maker’s stock valued at $28,000 after acquiring an additional 19 shares during the last quarter. MCF Advisors LLC raised its holdings in shares of Intuit by 119.0% during the fourth quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock valued at $29,000 after acquiring an additional 25 shares during the last quarter. Hobbs Group Advisors LLC acquired a new position in shares of Intuit during the second quarter valued at approximately $35,000. Finally, Wetzel Investment Advisors Inc. acquired a new position in shares of Intuit during the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on INTU shares. KeyCorp upped their price target on Intuit from $720.00 to $740.00 and gave the company an “overweight” rating in a research report on Monday, May 20th. Bank of America dropped their price target on Intuit from $760.00 to $730.00 and set a “buy” rating for the company in a research report on Friday, May 24th. Wells Fargo & Company upped their price target on Intuit from $725.00 to $750.00 and gave the company an “overweight” rating in a research report on Tuesday, May 21st. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research report on Monday, May 27th. Finally, Erste Group Bank reiterated a “hold” rating on shares of Intuit in a research report on Friday, June 14th. Five equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $691.77.

Insider Buying and Selling at Intuit

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total value of $44,838,750.00. Following the sale, the insider now directly owns 6,791,469 shares in the company, valued at $4,060,279,741.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Intuit news, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total value of $44,838,750.00. Following the sale, the insider now directly owns 6,791,469 shares in the company, valued at $4,060,279,741.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Scott D. Cook sold 14,748 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $567.40, for a total value of $8,368,015.20. Following the completion of the sale, the insider now owns 6,701,721 shares in the company, valued at $3,802,556,495.40. The disclosure for this sale can be found here. Insiders have sold a total of 195,963 shares of company stock worth $114,442,445 over the last ninety days. Corporate insiders own 2.90% of the company’s stock.

Intuit Stock Down 0.0 %

Shares of NASDAQ INTU traded down $0.31 during mid-day trading on Wednesday, hitting $666.97. The company had a trading volume of 588,883 shares, compared to its average volume of 1,311,154. The company has a market capitalization of $186.45 billion, a PE ratio of 61.56, a price-to-earnings-growth ratio of 3.14 and a beta of 1.23. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.50 and a quick ratio of 1.50. Intuit Inc. has a 1-year low of $473.56 and a 1-year high of $676.62. The business’s 50-day simple moving average is $635.80 and its 200 day simple moving average is $634.12.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, May 23rd. The software maker reported $9.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.12 by $1.76. The business had revenue of $6.74 billion for the quarter, compared to analysts’ expectations of $6.65 billion. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period last year, the firm earned $7.80 earnings per share. On average, analysts predict that Intuit Inc. will post 11.72 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.