Global Retirement Partners LLC Purchases 48 Shares of Intuit Inc. (NASDAQ:INTU)

by · The Markets Daily

Global Retirement Partners LLC grew its position in shares of Intuit Inc. (NASDAQ:INTU – Free Report) by 2.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,848 shares of the software maker’s stock after purchasing an additional 48 shares during the quarter. Global Retirement Partners LLC’s holdings in Intuit were worth $1,161,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. R Squared Ltd acquired a new stake in Intuit during the 4th quarter worth approximately $25,000. Heck Capital Advisors LLC bought a new position in shares of Intuit during the fourth quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Intuit during the fourth quarter worth $28,000. Sugar Maple Asset Management LLC bought a new stake in shares of Intuit in the fourth quarter worth $29,000. Finally, Denver PWM LLC acquired a new stake in Intuit in the third quarter valued at $32,000. 83.66% of the stock is currently owned by institutional investors.

Insider Transactions at Intuit

In other news, CAO Lauren D. Hotz sold 1,078 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $619.28, for a total value of $667,583.84. Following the transaction, the chief accounting officer now owns 1,864 shares in the company, valued at $1,154,337.92. This trade represents a 36.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $641.82, for a total value of $48,136,500.00. Following the sale, the insider now owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. This trade represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 293,014 shares of company stock valued at $188,992,187 over the last three months. Corporate insiders own 2.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on INTU. BNP Paribas downgraded Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a report on Wednesday, January 15th. Stifel Nicolaus cut their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Morgan Stanley increased their target price on shares of Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research report on Friday, November 22nd. Royal Bank of Canada restated an “outperform” rating and issued a $760.00 price target on shares of Intuit in a research report on Friday, November 22nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and a consensus price target of $726.53.

View Our Latest Research Report on INTU

Intuit Trading Down 2.4 %

NASDAQ INTU opened at $565.47 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78. The business has a 50 day moving average price of $612.23 and a 200-day moving average price of $628.24. The company has a market cap of $158.29 billion, a price-to-earnings ratio of 54.90, a P/E/G ratio of 2.87 and a beta of 1.24.

Intuit (NASDAQ:INTU – Get Free Report) last announced its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The business 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.14 EPS. As a group, equities analysts expect that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

About Intuit

(Free Report)

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.

Read More

Want to see what other hedge funds are holding INTU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intuit Inc. (NASDAQ:INTU – Free Report).