Moors & Cabot Inc. Invests $234,000 in Intuit Inc. (INTU) Stock

Moors & Cabot Inc. bought a new stake in Intuit Inc. (NASDAQ:INTU) in the first quarter, Holdings Channel reports. The fund bought 896 shares of the software maker’s stock, valued at approximately $234,000.

A number of other large investors have also bought and sold shares of INTU. Oregon Public Employees Retirement Fund lifted its holdings in shares of Intuit by 17,362.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 20,327,715 shares of the software maker’s stock valued at $103,000 after purchasing an additional 20,211,306 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Intuit by 7.8% in the fourth quarter. BlackRock Inc. now owns 20,251,688 shares of the software maker’s stock valued at $3,986,545,000 after purchasing an additional 1,457,880 shares in the last quarter. Vanguard Group Inc lifted its holdings in shares of Intuit by 3.9% in the third quarter. Vanguard Group Inc now owns 18,997,220 shares of the software maker’s stock valued at $4,319,968,000 after purchasing an additional 704,771 shares in the last quarter. Fundsmith LLP lifted its holdings in shares of Intuit by 7.3% in the fourth quarter. Fundsmith LLP now owns 4,388,174 shares of the software maker’s stock valued at $997,871,000 after purchasing an additional 297,945 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Intuit by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 3,709,006 shares of the software maker’s stock valued at $728,975,000 after purchasing an additional 118,956 shares in the last quarter. 87.45% of the stock is owned by hedge funds and other institutional investors.

INTU opened at $241.31 on Friday. Intuit Inc. has a 52-week low of $182.61 and a 52-week high of $272.14. The stock has a market cap of $63.75 billion, a P/E ratio of 53.27, a P/E/G ratio of 2.87 and a beta of 1.14. 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 released its earnings results on Thursday, May 23rd. The software maker reported $5.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.12 by $0.43. Intuit had a return on equity of 53.70% and a net margin of 22.89%. The business had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.23 billion. During the same quarter in the prior year, the company posted $4.82 earnings per share. Intuit’s revenue was up 12.4% on a year-over-year basis. Equities research analysts predict that Intuit Inc. will post 5.3 EPS for the current year.

A number of brokerages have recently commented on INTU. Guggenheim boosted their price target on Intuit from $260.00 to $310.00 in a report on Thursday, April 11th. BNP Paribas began coverage on Intuit in a report on Friday, March 29th. They issued an “underperform” rating and a $200.00 price target on the stock. Deutsche Bank boosted their price target on Intuit from $270.00 to $280.00 and gave the company a “buy” rating in a report on Friday, April 12th. Bank of America restated a “buy” rating and issued a $264.00 price target (up from $252.00) on shares of Intuit in a report on Wednesday, March 6th. Finally, Goldman Sachs Group restated a “neutral” rating and issued a $212.00 price target on shares of Intuit in a report on Friday, February 1st. Three analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the stock. Intuit has a consensus rating of “Hold” and an average price target of $248.53.

In related news, EVP James Alexander Chriss sold 923 shares of the company’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $247.10, for a total transaction of $228,073.30. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Mark J. Flournoy sold 5,939 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $910,778.68. The disclosure for this sale can be found here. Insiders have sold 90,609 shares of company stock worth $22,757,853 in the last quarter. 4.60% of the stock is currently owned by corporate insiders.

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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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