Intuit Inc. (NASDAQ:INTU) Shares Sold by Banco Santander S.A.

Banco Santander S.A. reduced its position in shares of Intuit Inc. (NASDAQ:INTU) by 57.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,940 shares of the software maker’s stock after selling 5,286 shares during the period. Banco Santander S.A.’s holdings in Intuit were worth $2,447,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. EntryPoint Capital LLC acquired a new position in shares of Intuit during the 1st quarter valued at about $60,000. Canada Pension Plan Investment Board raised its stake in Intuit by 2.6% during the first quarter. Canada Pension Plan Investment Board now owns 139,026 shares of the software maker’s stock worth $90,367,000 after purchasing an additional 3,486 shares during the period. LRI Investments LLC acquired a new position in shares of Intuit in the 1st quarter valued at $346,000. BOKF NA grew its stake in shares of Intuit by 11.8% during the 1st quarter. BOKF NA now owns 20,539 shares of the software maker’s stock valued at $13,142,000 after buying an additional 2,171 shares during the period. Finally, Bamco Inc. NY increased its holdings in shares of Intuit by 33.9% during the 1st quarter. Bamco Inc. NY now owns 23,419 shares of the software maker’s stock worth $15,222,000 after buying an additional 5,928 shares during the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Sandeep Aujla sold 862 shares of Intuit stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total transaction of $535,327.86. Following the transaction, the chief financial officer now directly owns 3,840 shares of the company’s stock, valued at $2,384,755.20. The trade was a 18.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alex G. Balazs sold 2,941 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $12,575.20. The trade was a 99.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,297 shares of company stock valued at $35,220,046 over the last quarter. Corporate insiders own 2.90% of the company’s stock.

Wall Street Analysts Forecast Growth

INTU has been the subject of several research analyst reports. Stifel Nicolaus upped their price target on Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Scotiabank started coverage on shares of Intuit in a research note on Monday. They issued a “sector perform” rating and a $700.00 target price on the stock. Jefferies Financial Group increased their price target on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a report on Friday, August 23rd. BMO Capital Markets upped their target price on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Finally, Bank of America increased their target price on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and a consensus target price of $737.06.

Intuit Trading Up 4.4 %

NASDAQ:INTU opened at $679.40 on Friday. The stock has a market cap of $190.31 billion, a price-to-earnings ratio of 65.01, a PEG ratio of 3.15 and a beta of 1.25. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78. The business has a fifty day moving average of $635.12 and a 200-day moving average of $631.23.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The firm had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same quarter in the prior year, the firm posted $1.14 EPS. Intuit’s revenue was up 10.2% compared to the same quarter last year. Equities analysts predict that Intuit Inc. will post 14.05 earnings per share for the current year.

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.