Cigna Investments Inc. New increased its stake in Intuit Inc. (NASDAQ:INTU) by 3.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,693 shares of the software maker’s stock after purchasing an additional 460 shares during the quarter. Cigna Investments Inc. New’s holdings in Intuit were worth $3,150,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Atlas Private Wealth Management acquired a new stake in Intuit in the fourth quarter worth about $26,000. Virtus ETF Advisers LLC acquired a new stake in Intuit in the fourth quarter worth about $31,000. Laurel Wealth Advisors LLC lifted its holdings in Intuit by 50.0% in the first quarter. Laurel Wealth Advisors LLC now owns 120 shares of the software maker’s stock worth $28,000 after purchasing an additional 40 shares during the period. Ameritas Investment Company LLC lifted its holdings in Intuit by 958.3% in the 4th quarter. Ameritas Investment Company LLC now owns 127 shares of the software maker’s stock valued at $33,000 after acquiring an additional 115 shares during the last quarter. Finally, Aigen Investment Management LP acquired a new stake in Intuit in the 4th quarter valued at about $35,000. 86.39% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ INTU traded down $2.39 during trading hours on Friday, reaching $287.61. The stock had a trading volume of 1,738,172 shares, compared to its average volume of 1,095,271. The business’s fifty day moving average is $262.98 and its two-hundred day moving average is $266.23. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.67 and a quick ratio of 1.67. The company has a market cap of $75.54 billion, a price-to-earnings ratio of 56.73, a PEG ratio of 3.89 and a beta of 1.05. Intuit Inc. has a twelve month low of $187.68 and a twelve month high of $306.89.
A number of brokerages have issued reports on INTU. Stifel Nicolaus decreased their target price on Intuit from $315.00 to $300.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Bank of America upped their target price on Intuit from $270.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday. Jefferies Financial Group upped their target price on Intuit from $320.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday. UBS Group upped their target price on Intuit from $285.00 to $303.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. Finally, Barclays upped their target price on Intuit from $295.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Intuit has an average rating of “Buy” and a consensus target price of $306.00.
Intuit Company Profile
Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.
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