Concentric Wealth Management LLC Sells 100 Shares of Intuit Inc. (NASDAQ:INTU)

Concentric Wealth Management LLC trimmed its holdings in Intuit Inc. (NASDAQ:INTU) by 8.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,020 shares of the software maker’s stock after selling 100 shares during the period. Concentric Wealth Management LLC’s holdings in Intuit were worth $633,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in INTU. Harvest Fund Management Co. Ltd lifted its position in shares of Intuit by 33.0% during the third quarter. Harvest Fund Management Co. Ltd now owns 12,877 shares of the software maker’s stock valued at $7,995,000 after purchasing an additional 3,198 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Intuit during the third quarter valued at about $1,291,000. Fisher Asset Management LLC lifted its position in shares of Intuit by 2.9% during the third quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock valued at $2,376,984,000 after purchasing an additional 107,482 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Intuit by 11.9% during the third quarter. Daiwa Securities Group Inc. now owns 66,368 shares of the software maker’s stock valued at $41,214,000 after purchasing an additional 7,075 shares in the last quarter. Finally, Summit Trail Advisors LLC lifted its position in shares of Intuit by 4.0% during the third quarter. Summit Trail Advisors LLC now owns 4,175 shares of the software maker’s stock valued at $2,593,000 after purchasing an additional 162 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Sandeep Aujla sold 862 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total transaction of $535,327.86. Following the completion of the sale, the chief financial officer now directly owns 3,840 shares of the company’s stock, valued at approximately $2,384,755.20. The trade was a 18.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Scott D. Cook sold 2,461 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the sale, the insider now directly owns 6,453,105 shares of the company’s stock, valued at $4,111,853,974.95. This represents a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,265 shares of company stock valued at $35,200,125. 2.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

INTU has been the topic of a number of research analyst reports. Scotiabank initiated coverage on shares of Intuit in a research note on Monday, November 18th. They issued a “sector perform” rating and a $700.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research note on Friday. Royal Bank of Canada reiterated an “outperform” rating and issued a $760.00 target price on shares of Intuit in a research note on Friday. Stifel Nicolaus lowered their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research report on Friday. Finally, BMO Capital Markets boosted their price target on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $737.44.

Intuit Stock Down 5.7 %

NASDAQ INTU opened at $640.12 on Monday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a fifty day moving average of $634.81 and a two-hundred day moving average of $631.19. The firm has a market capitalization of $179.26 billion, a price-to-earnings ratio of 62.15, a PEG ratio of 3.13 and a beta of 1.25. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping the consensus estimate of $2.36 by $0.14. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. Intuit’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.14 earnings per share. On average, 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.