Summit Trail Advisors LLC Has $2.59 Million Position in Intuit Inc. (NASDAQ:INTU)

Summit Trail Advisors LLC raised its position in Intuit Inc. (NASDAQ:INTU) by 4.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,175 shares of the software maker’s stock after acquiring an additional 162 shares during the quarter. Summit Trail Advisors LLC’s holdings in Intuit were worth $2,593,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. LGT Financial Advisors LLC acquired a new stake in Intuit in the second quarter valued at $25,000. Cultivar Capital Inc. acquired a new stake in shares of Intuit during the 2nd quarter worth about $26,000. Fairway Wealth LLC acquired a new stake in shares of Intuit during the 2nd quarter worth about $26,000. Northwest Investment Counselors LLC acquired a new stake in shares of Intuit during the 3rd quarter worth about $27,000. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Intuit during the 2nd quarter worth about $35,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on INTU. Jefferies Financial Group raised their target price on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday. Morgan Stanley raised their target price on shares of Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research note on Friday. BMO Capital Markets raised their target price on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Scotiabank assumed coverage on shares of Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $760.00 price target on shares of Intuit in a research report on Friday. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Intuit has a consensus rating of “Moderate Buy” and an average target price of $737.44.

Intuit Stock Down 5.7 %

Shares of NASDAQ INTU opened at $640.12 on Monday. The company has a market capitalization of $179.26 billion, a P/E ratio of 62.15, a price-to-earnings-growth ratio of 3.13 and a beta of 1.25. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The company’s 50 day moving average price is $634.81 and its 200-day moving average price is $631.19.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the previous year, the company earned $1.14 EPS. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. Equities analysts forecast that Intuit Inc. will post 14.05 earnings per share for the current year.

Insider Transactions at Intuit

In other Intuit news, CFO Sandeep Aujla sold 862 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total transaction of $535,327.86. Following the transaction, the chief financial officer now owns 3,840 shares in the company, valued at approximately $2,384,755.20. This represents a 18.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Scott D. Cook sold 2,461 shares of Intuit stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the transaction, the insider now owns 6,453,105 shares of the company’s stock, valued at $4,111,853,974.95. This represents a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,265 shares of company stock valued at $35,200,125 in the last 90 days. 2.90% of the stock is currently owned by corporate insiders.

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.