Citizens Financial Group Inc. RI Has $8.34 Million Holdings in Intuit Inc. (NASDAQ:INTU)

Citizens Financial Group Inc. RI lifted its position in shares of Intuit Inc. (NASDAQ:INTU) by 4.7% during the third quarter, Holdings Channel.com reports. The firm owned 13,423 shares of the software maker’s stock after buying an additional 608 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Intuit were worth $8,336,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in INTU. LGT Financial Advisors LLC bought a new stake in shares of Intuit in the second quarter valued at about $25,000. Cultivar Capital Inc. bought a new stake in Intuit in the 2nd quarter valued at about $26,000. Fairway Wealth LLC acquired a new position in shares of Intuit during the 2nd quarter worth approximately $26,000. Northwest Investment Counselors LLC bought a new position in shares of Intuit during the third quarter worth approximately $27,000. Finally, Hobbs Group Advisors LLC bought a new position in shares of Intuit during the second quarter worth approximately $35,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Trading Up 1.0 %

Shares of INTU stock opened at $650.60 on Thursday. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a 50 day simple moving average of $634.46 and a two-hundred day simple moving average of $630.89. The company has a market cap of $182.25 billion, a P/E ratio of 62.26, a PEG ratio of 3.15 and a beta of 1.25.

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Morgan Stanley downgraded Intuit from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $750.00 to $685.00 in a research report on Wednesday, August 14th. Stifel Nicolaus increased their price objective on shares of Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a report on Monday, September 30th. JPMorgan Chase & Co. boosted their price objective on shares of Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Finally, Bank of America lifted their price target on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $737.06.

Insider Buying and Selling

In related news, insider Scott D. Cook sold 2,461 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total value of $1,568,124.59. Following the transaction, the insider now owns 6,453,105 shares of the company’s stock, valued at approximately $4,111,853,974.95. This trade represents a 0.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sandeep Aujla sold 775 shares of Intuit stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total value of $466,015.25. Following the transaction, the chief financial officer now directly owns 4,451 shares in the company, valued at approximately $2,676,430.81. The trade was a 14.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,297 shares of company stock worth $35,220,046 in the last ninety days. Corporate insiders own 2.90% of the company’s stock.

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.