Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 1,800 Shares of Intuit Inc. (NASDAQ:INTU)

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its holdings in Intuit Inc. (NASDAQ:INTU) by 3.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 56,640 shares of the software maker’s stock after selling 1,800 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Intuit were worth $35,598,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. R Squared Ltd purchased a new position in shares of Intuit in the 4th quarter valued at approximately $25,000. Heck Capital Advisors LLC acquired a new stake in shares of Intuit during the 4th quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Intuit during the 4th quarter worth approximately $28,000. Sugar Maple Asset Management LLC purchased a new position in shares of Intuit during the 4th quarter valued at approximately $29,000. Finally, Denver PWM LLC purchased a new position in shares of Intuit during the 3rd quarter valued at approximately $32,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Intuit news, EVP Alex G. Balazs sold 23,810 shares of Intuit stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $665.98, for a total value of $15,856,983.80. Following the sale, the executive vice president now owns 489 shares of the company’s stock, valued at $325,664.22. This trade represents a 97.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $641.82, for a total value of $48,136,500.00. Following the completion of the sale, the insider now directly owns 6,378,105 shares in the company, 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 have sold a total of 293,014 shares of company stock worth $188,992,187 in the last three months. Insiders own 2.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on INTU. Oppenheimer raised their price objective on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Scotiabank started coverage on Intuit in a research report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 target price for the company. Stifel Nicolaus decreased their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Finally, Jefferies Financial Group boosted their target price on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. One research 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. Based on data from MarketBeat.com, Intuit presently has a consensus rating of “Moderate Buy” and an average price target of $726.53.

Intuit Stock Performance

INTU opened at $565.47 on Friday. The stock has a 50-day moving average of $612.23 and a 200-day moving average of $628.35. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78. The company has a market cap of $158.28 billion, a PE ratio of 54.90, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

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

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.