Keybank National Association OH increased its position in Intuit Inc. (NASDAQ:INTU) by 2.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 204,447 shares of the software maker’s stock after purchasing an additional 4,716 shares during the period. Keybank National Association OH’s holdings in Intuit were worth $53,445,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Elgethun Capital Management acquired a new position in Intuit in the 1st quarter valued at about $209,000. TD Asset Management Inc. increased its position in Intuit by 10.7% in the 1st quarter. TD Asset Management Inc. now owns 690,001 shares of the software maker’s stock valued at $180,373,000 after acquiring an additional 66,713 shares during the period. Concentrum Wealth Management acquired a new position in Intuit in the 1st quarter valued at about $238,000. McKinley Carter Wealth Services Inc. increased its position in Intuit by 8.0% in the 1st quarter. McKinley Carter Wealth Services Inc. now owns 17,438 shares of the software maker’s stock valued at $4,558,000 after acquiring an additional 1,289 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Intuit by 25.7% during the 1st quarter. JPMorgan Chase & Co. now owns 2,037,451 shares of the software maker’s stock worth $532,611,000 after purchasing an additional 416,794 shares during the period. 87.60% of the stock is owned by institutional investors and hedge funds.
In related news, VP Mark J. Flournoy sold 5,939 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $251.18, for a total value of $1,491,758.02. Following the sale, the vice president now owns 3,626 shares of the company’s stock, valued at approximately $910,778.68. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Kerry J. Mclean sold 12,176 shares of the company’s stock in a transaction that occurred 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 approximately $3,688,385.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 90,609 shares of company stock worth $22,757,853. 4.60% of the stock is owned by corporate insiders.
Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, February 21st. The software maker reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.44. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Intuit had a return on equity of 53.70% and a net margin of 22.89%. During the same quarter in the prior year, the firm posted $0.35 EPS. As a group, equities research analysts forecast that Intuit Inc. will post 5.3 earnings per share for the current fiscal year.
Several equities analysts have issued reports on the company. Deutsche Bank boosted their target price on Intuit from $270.00 to $280.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. BidaskClub cut Intuit from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Zacks Investment Research cut Intuit from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 27th. Morgan Stanley dropped their target price on Intuit from $245.00 to $239.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 16th. Finally, KeyCorp boosted their target price on Intuit from $255.00 to $285.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $243.26.
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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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