First Horizon Advisors Inc. Purchases 187 Shares of Intuit Inc. (NASDAQ:INTU)

First Horizon Advisors Inc. lifted its holdings in Intuit Inc. (NASDAQ:INTU) by 0.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,837 shares of the software maker’s stock after acquiring an additional 187 shares during the period. First Horizon Advisors Inc.’s holdings in Intuit were worth $13,561,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Legal & General Group Plc lifted its holdings in Intuit by 1.0% during the second quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker’s stock worth $1,538,236,000 after buying an additional 23,995 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Intuit by 17.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock valued at $1,062,578,000 after purchasing an additional 238,486 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Intuit by 4.2% in the second quarter. Principal Financial Group Inc. now owns 1,407,862 shares of the software maker’s stock valued at $925,262,000 after purchasing an additional 56,370 shares during the period. Capital World Investors boosted its holdings in Intuit by 1.0% in the 1st quarter. Capital World Investors now owns 1,188,779 shares of the software maker’s stock worth $772,706,000 after buying an additional 12,068 shares during the last quarter. Finally, Unisphere Establishment raised its stake in Intuit by 4.2% in the 2nd quarter. Unisphere Establishment now owns 1,000,000 shares of the software maker’s stock valued at $657,210,000 after purchasing an additional 40,000 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

INTU has been the topic of a number of recent research reports. BMO Capital Markets boosted their price objective on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Susquehanna reiterated a “positive” rating and set a $757.00 target price on shares of Intuit in a report on Friday, August 16th. Piper Sandler reissued an “overweight” rating and set a $768.00 price objective on shares of Intuit in a research report on Friday, September 27th. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research note on Monday, September 30th. Finally, Bank of America upped their target price on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $737.06.

Intuit Price Performance

NASDAQ:INTU opened at $644.17 on Wednesday. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78. The firm has a market cap of $180.55 billion, a P/E ratio of 61.64, a PEG ratio of 3.36 and a beta of 1.25. The business’s 50-day moving average price is $634.32 and its 200 day moving average price is $630.75. 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 (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The business had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same period in the previous year, the company earned $0.40 EPS. The firm’s revenue was up 17.4% on a year-over-year basis. As a group, sell-side analysts predict that Intuit Inc. will post 14.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Alex G. Balazs sold 2,941 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total value of $1,849,183.16. Following the transaction, the executive vice president now owns 20 shares of the company’s stock, valued at $12,575.20. This represents a 99.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Sandeep Aujla sold 775 shares of the business’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total value of $466,015.25. Following the transaction, the chief financial officer now owns 4,451 shares of the company’s stock, valued at $2,676,430.81. The trade was a 14.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,297 shares of company stock valued at $35,220,046 over the last ninety days. 2.90% of the stock is owned by company insiders.

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.