Primecap Management Co. CA decreased its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 1.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,647,036 shares of the software maker's stock after selling 25,745 shares during the quarter. Primecap Management Co. CA owned 0.59% of Intuit worth $1,022,809,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the business. Legal & General Group Plc grew its position in Intuit by 1.0% in the second quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker's stock worth $1,538,236,000 after buying an additional 23,995 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Intuit by 17.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker's stock worth $1,062,578,000 after purchasing an additional 238,486 shares during the period. Principal Financial Group Inc. boosted its stake in Intuit by 4.2% in the 2nd quarter. Principal Financial Group Inc. now owns 1,407,862 shares of the software maker's stock worth $925,262,000 after purchasing an additional 56,370 shares during the period. Capital World Investors boosted its stake in Intuit by 1.0% in the 1st quarter. Capital World Investors now owns 1,188,779 shares of the software maker's stock worth $772,706,000 after purchasing an additional 12,068 shares during the period. Finally, Unisphere Establishment boosted its stake in Intuit by 4.2% in the 2nd quarter. Unisphere Establishment now owns 1,000,000 shares of the software maker's stock worth $657,210,000 after purchasing an additional 40,000 shares during the period. Institutional investors and hedge funds own 83.66% of the company's stock.
Shares of INTU opened at $650.60 on Thursday. The company has a 50-day simple moving average of $634.46 and a 200-day simple moving average of $630.89. The firm has a market capitalization of $182.25 billion, a P/E ratio of 62.26, a P/E/G ratio of 3.15 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 52 week low of $557.29 and a 52 week high of $714.78.
Intuit (NASDAQ:INTU - Get Free Report) last posted 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. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The firm had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the prior year, the business posted $0.40 earnings per share. The company's quarterly revenue was up 17.4% compared to the same quarter last year. On average, equities research analysts expect that Intuit Inc. will post 14.05 earnings per share for the current year.
A number of equities analysts recently commented on the stock. Barclays raised their price objective on shares of Intuit from $740.00 to $800.00 and gave the stock an "overweight" rating in a research note on Friday, November 15th. Morgan Stanley lowered shares of Intuit from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $750.00 to $685.00 in a research note on Wednesday, August 14th. BMO Capital Markets lifted their target price on shares of Intuit from $700.00 to $760.00 and gave the company an "outperform" rating in a research note on Friday, August 23rd. StockNews.com raised shares of Intuit from a "hold" rating to a "buy" rating in a research note on Monday, September 30th. Finally, Piper Sandler reissued an "overweight" rating and set a $768.00 target price on shares of Intuit in a research note on Friday, September 27th. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $737.06.
Get Our Latest Analysis on INTU
In other Intuit news, EVP Kerry J. Mclean sold 11,079 shares of the company's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the sale, the executive vice president now directly owns 24,941 shares of the company's stock, valued at approximately $15,752,985.01. This represents a 30.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sandeep Aujla sold 4,000 shares of the company's 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 sale, the chief financial officer now directly owns 452 shares in the company, valued at $279,010.56. This represents a 89.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,297 shares of company stock valued at $35,220,046 over the last quarter. Corporate insiders own 2.90% of the company's stock.
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.
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