Clifford Swan Investment Counsel LLC lessened its position in Intuit Inc. (NASDAQ:INTU) by 3.1% in the 4th quarter, HoldingsChannel reports. The firm owned 66,404 shares of the software maker’s stock after selling 2,150 shares during the period. Clifford Swan Investment Counsel LLC’s holdings in Intuit were worth $10,477,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Exane Derivatives bought a new stake in shares of Intuit during the third quarter worth $105,000. Horan Capital Advisors LLC. bought a new stake in shares of Intuit during the third quarter worth $114,000. Highstreet Asset Management Inc. bought a new stake in shares of Intuit during the third quarter worth $159,000. SeaCrest Wealth Management LLC bought a new stake in shares of Intuit during the fourth quarter worth $170,000. Finally, Americafirst Capital Management LLC bought a new stake in shares of Intuit during the third quarter worth $184,000. 86.37% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently issued reports on INTU shares. Zacks Investment Research downgraded shares of Intuit from a “buy” rating to a “hold” rating in a research report on Tuesday, October 24th. Oppenheimer increased their price objective on shares of Intuit from $146.00 to $159.00 and gave the stock an “outperform” rating in a research report on Friday, October 27th. UBS Group started coverage on shares of Intuit in a research report on Thursday, November 9th. They set a “neutral” rating and a $152.00 price objective for the company. Barclays increased their price objective on shares of Intuit from $135.00 to $157.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 15th. Finally, Royal Bank of Canada increased their target price on shares of Intuit from $141.00 to $160.00 and gave the stock a “sector perform” rating in a report on Thursday, November 16th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $159.42.
Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Monday, November 20th. The software maker reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.30. The firm had revenue of $886.00 million during the quarter, compared to analysts’ expectations of $855.74 million. Intuit had a net margin of 18.62% and a return on equity of 77.56%. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.06 earnings per share. analysts forecast that Intuit Inc. will post 4.27 EPS for the current fiscal year.
In other Intuit news, CEO Brad D. Smith sold 110,496 shares of the stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $151.40, for a total value of $16,729,094.40. Following the completion of the sale, the chief executive officer now owns 399,246 shares in the company, valued at $60,445,844.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Scott D. Cook sold 112,731 shares of the stock in a transaction on Monday, December 18th. The shares were sold at an average price of $160.97, for a total transaction of $18,146,309.07. The disclosure for this sale can be found here. In the last quarter, insiders sold 965,938 shares of company stock valued at $149,469,127. Corporate insiders own 5.59% of the company’s stock.
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Intuit Company Profile
Intuit Inc is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. The Company operates through three segments: Small Business, Consumer Tax and ProConnect. The Small Business segment serves and advises small businesses and the accounting professionals, and includes QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions.
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