Mercer Global Advisors Inc. ADV acquired a new stake in Intuit Inc. (NASDAQ:INTU) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 7,790 shares of the software maker’s stock, valued at approximately $2,036,000.
Several other hedge funds also recently added to or reduced their stakes in INTU. Oregon Public Employees Retirement Fund lifted its stake in Intuit by 17,362.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 20,327,715 shares of the software maker’s stock valued at $103,000 after acquiring an additional 20,211,306 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Intuit by 7.8% in the fourth quarter. BlackRock Inc. now owns 20,251,688 shares of the software maker’s stock worth $3,986,545,000 after buying an additional 1,457,880 shares during the last quarter. Vanguard Group Inc lifted its stake in shares of Intuit by 3.9% in the third quarter. Vanguard Group Inc now owns 18,997,220 shares of the software maker’s stock worth $4,319,968,000 after buying an additional 704,771 shares during the last quarter. Fundsmith LLP lifted its stake in shares of Intuit by 7.3% in the fourth quarter. Fundsmith LLP now owns 4,388,174 shares of the software maker’s stock worth $997,871,000 after buying an additional 297,945 shares during the last quarter. Finally, TIAA CREF Investment Management LLC lifted its stake in shares of Intuit by 0.6% in the third quarter. TIAA CREF Investment Management LLC now owns 4,143,604 shares of the software maker’s stock worth $942,256,000 after buying an additional 22,924 shares during the last quarter. Institutional investors own 87.60% of the company’s stock.
In other news, SVP Kerry J. Mclean sold 12,176 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $250.74, for a total transaction of $3,053,010.24. Following the completion of the transaction, the senior vice president now directly owns 14,710 shares of the company’s stock, valued at approximately $3,688,385.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Mark J. Flournoy sold 5,939 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $251.18, for a total transaction of $1,491,758.02. Following the completion of the transaction, the vice president now directly owns 3,626 shares of the company’s stock, valued at $910,778.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 90,609 shares of company stock valued at $22,757,853. 4.60% of the stock is owned by company insiders.
Intuit stock traded up $1.45 during trading hours on Wednesday, reaching $247.53. 730,048 shares of the company’s stock traded hands, compared to its average volume of 1,515,413. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.13. Intuit Inc. has a fifty-two week low of $182.61 and a fifty-two week high of $272.14. The company has a market cap of $62.47 billion, a PE ratio of 54.64, a PEG ratio of 2.86 and a beta of 1.14.
Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, February 21st. The software maker reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.44. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.48 billion. Intuit had a net margin of 22.89% and a return on equity of 53.70%. During the same period last year, the company posted $0.35 EPS. Research analysts forecast that Intuit Inc. will post 5.3 EPS for the current year.
Several equities analysts recently commented on the stock. Guggenheim boosted their price target on shares of Intuit from $260.00 to $310.00 in a report on Thursday, April 11th. Deutsche Bank boosted their price target on shares of Intuit from $270.00 to $280.00 and gave the company a “buy” rating in a report on Friday, April 12th. Credit Suisse Group reissued an “outperform” rating and issued a $255.00 price target (up previously from $250.00) on shares of Intuit in a report on Tuesday, January 22nd. BidaskClub lowered shares of Intuit from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. Finally, Zacks Investment Research lowered shares of Intuit from a “buy” rating to a “hold” rating in a report on Wednesday, January 23rd. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company. Intuit has a consensus rating of “Hold” and an average price target of $243.26.
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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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