PNC Financial Services Group Inc. Acquires 2,498 Shares of Intuit Inc. (NASDAQ:INTU)

PNC Financial Services Group Inc. grew its holdings in Intuit Inc. (NASDAQ:INTU) by 2.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 127,892 shares of the software maker’s stock after buying an additional 2,498 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Intuit were worth $79,421,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of INTU. Bessemer Group Inc. raised its stake in shares of Intuit by 14.2% during the 1st quarter. Bessemer Group Inc. now owns 19,676 shares of the software maker’s stock worth $12,790,000 after acquiring an additional 2,450 shares in the last quarter. MQS Management LLC bought a new position in shares of Intuit during the 1st quarter worth approximately $294,000. EntryPoint Capital LLC bought a new position in shares of Intuit during the 1st quarter worth approximately $60,000. Delap Wealth Advisory LLC bought a new position in shares of Intuit during the 1st quarter worth approximately $252,000. Finally, Freestone Capital Holdings LLC raised its stake in shares of Intuit by 220.5% during the 1st quarter. Freestone Capital Holdings LLC now owns 3,510 shares of the software maker’s stock worth $2,282,000 after acquiring an additional 2,415 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Scotiabank assumed coverage on shares of Intuit in a research report on Monday. They set a “sector perform” rating and a $700.00 target price on the stock. Barclays boosted their target price on shares of Intuit from $740.00 to $800.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Susquehanna reaffirmed a “positive” rating and issued a $757.00 price objective on shares of Intuit in a report on Friday, August 16th. JPMorgan Chase & Co. upped their price objective on shares of Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. Finally, Stifel Nicolaus upped their price objective on shares of Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $737.06.

Insider Transactions at Intuit

In other news, Director Eve B. Burton sold 2,988 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $649.87, for a total transaction of $1,941,811.56. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Alex G. Balazs sold 2,941 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the completion of the sale, the executive vice president now directly owns 20 shares in the company, valued at approximately $12,575.20. This trade represents a 99.32 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,297 shares of company stock valued at $35,220,046. 2.90% of the stock is currently owned by corporate insiders.

Intuit Trading Down 5.1 %

Shares of INTU stock opened at $644.17 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a market cap of $180.55 billion, a PE ratio of 61.64, a price-to-earnings-growth ratio of 3.36 and a beta of 1.25. The company has a 50-day moving average of $634.32 and a two-hundred day moving average of $630.75. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78.

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

Intuit Company 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.