Intuit Inc. (NASDAQ:INTU) Shares Sold by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC lowered its position in Intuit Inc. (NASDAQ:INTU) by 4.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,023 shares of the software maker’s stock after selling 222 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Intuit were worth $3,157,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of INTU. Brown Financial Advisors boosted its stake in Intuit by 0.9% during the 3rd quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock worth $1,018,000 after purchasing an additional 15 shares during the period. Truvestments Capital LLC raised its holdings in shares of Intuit by 1.5% in the third quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock valued at $669,000 after buying an additional 16 shares during the last quarter. Mount Yale Investment Advisors LLC boosted its stake in shares of Intuit by 1.8% during the third quarter. Mount Yale Investment Advisors LLC now owns 973 shares of the software maker’s stock worth $604,000 after buying an additional 17 shares during the period. Freedom Day Solutions LLC grew its holdings in shares of Intuit by 0.4% during the third quarter. Freedom Day Solutions LLC now owns 4,186 shares of the software maker’s stock worth $2,599,000 after buying an additional 17 shares during the last quarter. Finally, Covenant Partners LLC increased its position in Intuit by 3.4% in the 3rd quarter. Covenant Partners LLC now owns 521 shares of the software maker’s stock valued at $324,000 after acquiring an additional 17 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Stock Performance

NASDAQ INTU opened at $579.08 on Friday. The business has a 50 day moving average price of $614.05 and a 200 day moving average price of $628.50. The company has a market capitalization of $162.10 billion, a P/E ratio of 56.22, a PEG ratio of 2.86 and a beta of 1.24. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24.

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, beating analysts’ consensus estimates of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter last year, the business posted $1.14 earnings per share. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. Sell-side analysts expect that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Insider Activity at Intuit

In related news, EVP Alex G. Balazs sold 23,810 shares of Intuit stock in a transaction that occurred on Thursday, December 12th. The stock was 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 directly owns 489 shares in the company, valued at $325,664.22. The trade was a 97.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Sandeep Aujla sold 109 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total value of $68,506.50. Following the sale, the chief financial officer now owns 1,944 shares in the company, valued at approximately $1,221,804. This trade represents a 5.31 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 293,014 shares of company stock valued at $188,992,187. Insiders own 2.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on INTU shares. Redburn Atlantic initiated coverage on Intuit in a research report on Wednesday. They set a “neutral” rating for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $760.00 price target on shares of Intuit in a report on Friday, November 22nd. BNP Paribas lowered shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective on the stock. in a research report on Wednesday, January 15th. Stifel Nicolaus cut their price objective on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Finally, StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. One 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $726.53.

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.