McKinley Carter Wealth Services Inc. Boosts Holdings in Intuit Inc. (INTU)

McKinley Carter Wealth Services Inc. raised its stake in Intuit Inc. (NASDAQ:INTU) by 8.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,438 shares of the software maker’s stock after buying an additional 1,289 shares during the period. Intuit makes up about 1.3% of McKinley Carter Wealth Services Inc.’s investment portfolio, making the stock its 12th largest holding. McKinley Carter Wealth Services Inc.’s holdings in Intuit were worth $4,558,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Financial Advantage Inc. acquired a new stake in Intuit during the 1st quarter valued at $26,000. CX Institutional raised its stake in Intuit by 85.5% during the 1st quarter. CX Institutional now owns 102 shares of the software maker’s stock valued at $27,000 after purchasing an additional 47 shares during the period. Financial Gravity Wealth Inc. acquired a new stake in Intuit during the 1st quarter valued at $28,000. Private Ocean LLC acquired a new stake in Intuit during the 1st quarter valued at $28,000. Finally, Athena Capital Advisors LLC acquired a new stake in Intuit during the 4th quarter valued at $28,000. 87.60% of the stock is currently owned by institutional investors.

Several analysts have issued reports on INTU shares. Zacks Investment Research raised shares of Intuit from a “hold” rating to a “buy” rating and set a $237.00 target price on the stock in a research note on Monday, January 21st. Credit Suisse Group reaffirmed an “outperform” rating and issued a $255.00 price target (up from $250.00) on shares of Intuit in a research note on Tuesday, January 22nd. Goldman Sachs Group reaffirmed a “neutral” rating and issued a $212.00 price target on shares of Intuit in a research note on Friday, February 1st. Morgan Stanley raised shares of Intuit from an “underweight” rating to an “equal weight” rating and set a $225.00 price target on the stock in a research note on Monday, February 4th. Finally, BidaskClub raised shares of Intuit from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 13th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $243.26.

In related news, SVP Kerry J. Mclean sold 12,176 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $250.74, for a total value of $3,053,010.24. Following the completion of the sale, the senior vice president now directly owns 14,710 shares in the company, valued at $3,688,385.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James Alexander Chriss sold 923 shares of the company’s stock in a transaction on Monday, February 25th. The stock was sold at an average price of $247.10, for a total transaction of $228,073.30. The disclosure for this sale can be found here. Insiders sold 90,609 shares of company stock valued at $22,757,853 over the last quarter. 4.60% of the stock is currently owned by corporate insiders.

NASDAQ INTU opened at $245.45 on Monday. The firm has a market capitalization of $63.59 billion, a PE ratio of 54.18, a P/E/G ratio of 2.86 and a beta of 1.14. Intuit Inc. has a 1-year low of $182.61 and a 1-year high of $272.14. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.32 and a current ratio of 1.32.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, February 21st. The software maker reported $1.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.44. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Intuit had a net margin of 22.89% and a return on equity of 53.70%. During the same period in the prior year, the company posted $0.35 earnings per share. On average, sell-side analysts predict that Intuit Inc. will post 5.3 EPS for the current year.

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Intuit Profile

Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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