NS Partners Ltd Buys 1,778 Shares of Intuit Inc. (NASDAQ:INTU)

NS Partners Ltd increased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 1.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 101,263 shares of the software maker’s stock after buying an additional 1,778 shares during the quarter. Intuit accounts for approximately 2.7% of NS Partners Ltd’s holdings, making the stock its 7th biggest position. NS Partners Ltd’s holdings in Intuit were worth $62,884,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Harvest Portfolios Group Inc. lifted its position in shares of Intuit by 5.4% in the third quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock worth $22,295,000 after buying an additional 1,853 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Intuit by 33.7% during the 3rd quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock worth $2,383,000 after purchasing an additional 968 shares during the last quarter. Cetera Advisors LLC lifted its position in shares of Intuit by 33.4% during the 1st quarter. Cetera Advisors LLC now owns 10,607 shares of the software maker’s stock worth $6,895,000 after purchasing an additional 2,655 shares during the last quarter. Park Avenue Securities LLC lifted its position in shares of Intuit by 13.4% during the 2nd quarter. Park Avenue Securities LLC now owns 11,257 shares of the software maker’s stock worth $7,398,000 after purchasing an additional 1,328 shares during the last quarter. Finally, BDF Gestion acquired a new position in shares of Intuit during the 2nd quarter worth about $7,196,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on INTU shares. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. raised their price target on Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. Scotiabank initiated coverage on Intuit in a research report on Monday. They issued a “sector perform” rating and a $700.00 price objective on the stock. Jefferies Financial Group increased their price objective on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Finally, Stifel Nicolaus lifted their target price on Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $737.06.

Insider Activity at Intuit

In other Intuit news, EVP Kerry J. Mclean sold 11,079 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total value of $6,997,607.19. Following the completion of the sale, the executive vice president now owns 24,941 shares in the company, valued at approximately $15,752,985.01. This trade represents a 30.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Sandeep Aujla sold 862 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total transaction of $535,327.86. Following the completion of the sale, the chief financial officer now owns 3,840 shares of the company’s stock, valued at approximately $2,384,755.20. This trade represents a 18.33 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,297 shares of company stock valued at $35,220,046. 2.90% of the stock is owned by corporate insiders.

Intuit Stock Down 5.1 %

Shares of INTU opened at $644.17 on Wednesday. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78. The company has a market cap of $180.55 billion, a P/E ratio of 61.64, a P/E/G ratio of 3.36 and a beta of 1.25. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a 50 day simple moving average of $634.32 and a two-hundred day simple moving average of $630.75.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.14. The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.40 earnings per share. Research analysts forecast that Intuit Inc. will post 14.05 EPS for the current fiscal year.

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.