Intuit Inc. (NASDAQ:INTU) Shares Acquired by XML Financial LLC

XML Financial LLC lifted its position in Intuit Inc. (NASDAQ:INTU) by 3.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 591 shares of the software maker’s stock after acquiring an additional 20 shares during the quarter. XML Financial LLC’s holdings in Intuit were worth $388,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Intech Investment Management LLC lifted its position in shares of Intuit by 134.7% in the 1st quarter. Intech Investment Management LLC now owns 4,601 shares of the software maker’s stock valued at $2,991,000 after acquiring an additional 2,641 shares in the last quarter. Parnassus Investments LLC lifted its position in shares of Intuit by 119.0% in the 4th quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock valued at $836,377,000 after acquiring an additional 727,185 shares in the last quarter. Maryland State Retirement & Pension System lifted its position in shares of Intuit by 1.1% in the 4th quarter. Maryland State Retirement & Pension System now owns 21,268 shares of the software maker’s stock valued at $13,293,000 after acquiring an additional 226 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Intuit by 1.1% in the 4th quarter. Public Employees Retirement System of Ohio now owns 179,801 shares of the software maker’s stock valued at $112,381,000 after acquiring an additional 1,990 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Intuit by 173.0% in the 4th quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock valued at $2,304,850,000 after acquiring an additional 2,336,654 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Stifel Nicolaus reduced their price target on shares of Intuit from $720.00 to $690.00 and set a “buy” rating for the company in a research report on Friday, May 24th. Bank of America dropped their price objective on shares of Intuit from $760.00 to $730.00 and set a “buy” rating on the stock in a research note on Friday, May 24th. Royal Bank of Canada assumed coverage on shares of Intuit in a research note on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 price objective on the stock. Citigroup upped their price objective on shares of Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Finally, StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a research note on Monday, May 27th. Five research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $691.77.

Intuit Stock Performance

NASDAQ:INTU traded up $3.21 during midday trading on Wednesday, reaching $670.49. The stock had a trading volume of 1,255,620 shares, compared to its average volume of 1,315,294. Intuit Inc. has a 1-year low of $473.56 and a 1-year high of $676.62. The firm’s fifty day simple moving average is $637.37 and its 200-day simple moving average is $634.37. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.50 and a quick ratio of 1.50. The stock has a market capitalization of $187.43 billion, a P/E ratio of 61.85, a PEG ratio of 3.14 and a beta of 1.23.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, May 23rd. The software maker reported $9.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.12 by $1.76. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The business had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.65 billion. During the same period last year, the business posted $7.80 EPS. Intuit’s revenue was up 11.9% compared to the same quarter last year. On average, equities research analysts forecast that Intuit Inc. will post 11.72 EPS for the current fiscal year.

Insider Buying and Selling at Intuit

In other news, EVP Mark P. Notarainni sold 465 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total transaction of $281,129.70. Following the completion of the transaction, the executive vice president now directly owns 869 shares of the company’s stock, valued at approximately $525,380.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Scott D. Cook sold 75,000 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $597.85, for a total transaction of $44,838,750.00. Following the completion of the sale, the insider now owns 6,791,469 shares in the company, valued at approximately $4,060,279,741.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark P. Notarainni sold 465 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total transaction of $281,129.70. Following the sale, the executive vice president now owns 869 shares of the company’s stock, valued at approximately $525,380.02. The disclosure for this sale can be found here. Insiders sold a total of 195,963 shares of company stock valued at $114,442,445 in the last ninety days. Company insiders own 2.90% of the company’s stock.

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.