Transcend Capital Advisors LLC Sells 24 Shares of Intuit Inc. (NASDAQ:INTU)

Transcend Capital Advisors LLC reduced its holdings in Intuit Inc. (NASDAQ:INTU) by 1.4% in the 4th quarter, Holdings Channel reports. The fund owned 1,738 shares of the software maker’s stock after selling 24 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Intuit were worth $1,093,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of INTU. International Assets Investment Management LLC increased its stake in Intuit by 68,404.7% during the 3rd quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock worth $300,768,000 after purchasing an additional 483,621 shares in the last quarter. Holocene Advisors LP boosted its holdings in shares of Intuit by 99.6% in the third quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock valued at $388,487,000 after buying an additional 312,212 shares during the period. Nordea Investment Management AB increased its position in shares of Intuit by 83.2% during the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after acquiring an additional 268,060 shares in the last quarter. State Street Corp raised its holdings in shares of Intuit by 1.8% during the third quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock worth $7,648,910,000 after acquiring an additional 221,885 shares during the period. Finally, Union Bancaire Privee UBP SA bought a new stake in Intuit in the 4th quarter valued at $104,278,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on INTU shares. Morgan Stanley increased their target price on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. BNP Paribas downgraded Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a report on Wednesday, January 15th. Barclays dropped their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Redburn Atlantic initiated coverage on Intuit in a research report on Wednesday. They set a “neutral” rating for the company. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, Intuit currently has an average rating of “Moderate Buy” and a consensus target price of $726.53.

Intuit Stock Performance

Shares of INTU opened at $565.47 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a 50-day moving average of $612.23 and a 200-day moving average of $628.24. The company has a market cap of $158.29 billion, a PE ratio of 54.90, a price-to-earnings-growth ratio of 2.87 and a beta of 1.24. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.14 earnings per share. As a group, equities analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current year.

Insider Activity

In other Intuit news, CEO Sasan K. Goodarzi sold 26,562 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $625.89, for a total value of $16,624,890.18. Following the transaction, the chief executive officer now directly owns 37,869 shares in the company, valued at $23,701,828.41. The trade was a 41.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the sale, the insider now owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. This 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. Insiders own 2.68% of the company’s stock.

Intuit 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.