Intuit Inc. (NASDAQ:INTU) Shares Purchased by Prospera Financial Services Inc

Prospera Financial Services Inc raised its stake in Intuit Inc. (NASDAQ:INTU) by 1.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,008 shares of the software maker’s stock after purchasing an additional 18 shares during the period. Prospera Financial Services Inc’s holdings in Intuit were worth $626,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in INTU. EntryPoint Capital LLC purchased a new position in Intuit in the first quarter valued at approximately $60,000. Caxton Associates LP purchased a new position in shares of Intuit during the first quarter worth approximately $754,000. Zurich Insurance Group Ltd FI grew its position in shares of Intuit by 11.6% during the first quarter. Zurich Insurance Group Ltd FI now owns 141,023 shares of the software maker’s stock worth $91,665,000 after acquiring an additional 14,648 shares during the last quarter. Captrust Financial Advisors grew its position in shares of Intuit by 4.7% during the first quarter. Captrust Financial Advisors now owns 57,646 shares of the software maker’s stock worth $37,470,000 after acquiring an additional 2,614 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC grew its position in shares of Intuit by 15.8% during the first quarter. Silvercrest Asset Management Group LLC now owns 10,769 shares of the software maker’s stock worth $7,000,000 after acquiring an additional 1,468 shares during the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on INTU shares. Bank of America raised their target price on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. 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 report 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 report on Friday, August 23rd. StockNews.com lowered shares of Intuit from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Piper Sandler lowered their price objective on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a research report on Friday. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $737.44.

Intuit Stock Down 5.7 %

Intuit stock opened at $640.12 on Friday. The firm has a market capitalization of $179.31 billion, a price-to-earnings ratio of 62.15, a price-to-earnings-growth ratio of 3.32 and a beta of 1.25. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The stock’s fifty day moving average is $634.81 and its two-hundred day moving average is $631.20.

Intuit (NASDAQ:INTU) last announced its 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. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.28%. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.14 earnings per share. Analysts predict that Intuit Inc. will post 14.05 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Sandeep Aujla sold 4,000 shares of Intuit stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the completion of the sale, the chief financial officer now owns 452 shares in the company, valued at approximately $279,010.56. This trade represents a 89.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Eve B. Burton sold 2,988 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $649.87, for a total transaction of $1,941,811.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,297 shares of company stock valued at $35,220,046. Corporate insiders own 2.90% of the company’s stock.

About Intuit

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.