Bank of New York Mellon Corp Has $1.50 Billion Position in Intuit Inc. (NASDAQ:INTU)

Bank of New York Mellon Corp increased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 3.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,386,228 shares of the software maker’s stock after purchasing an additional 88,487 shares during the period. Bank of New York Mellon Corp owned approximately 0.85% of Intuit worth $1,499,744,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of INTU. R Squared Ltd bought a new position in Intuit during the 4th quarter worth about $25,000. Heck Capital Advisors LLC bought a new stake in shares of Intuit in the fourth quarter valued at about $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Intuit during the fourth quarter worth about $28,000. Sugar Maple Asset Management LLC bought a new position in shares of Intuit during the fourth quarter worth about $29,000. Finally, Denver PWM LLC acquired a new stake in Intuit in the 3rd quarter valued at approximately $32,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Stifel Nicolaus decreased their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Scotiabank assumed coverage on shares of Intuit in a research note on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price target on the stock. Barclays cut their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Finally, Oppenheimer lifted their target price on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $726.71.

Intuit Stock Up 0.3 %

INTU stock opened at $567.24 on Tuesday. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78. The business’s 50 day simple moving average is $610.15 and its 200 day simple moving average is $628.07. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $158.78 billion, a PE ratio of 55.07, a PEG ratio of 2.85 and a beta of 1.24.

Insiders Place Their Bets

In other news, insider Scott D. Cook sold 73,655 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $664.94, for a total transaction of $48,976,155.70. Following the completion of the sale, the insider now owns 6,301,286 shares in the company, valued at approximately $4,189,977,112.84. This trade represents a 1.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Alex G. Balazs sold 23,810 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the completion of the transaction, the executive vice president now owns 489 shares in the company, valued at approximately $325,664.22. This trade represents a 97.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 218,014 shares of company stock valued at $140,855,687 over the last ninety days. 2.68% of the stock is currently owned by company insiders.

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.