Intuit Inc. (NASDAQ:INTU) Shares Sold by Trust Co. of Virginia VA

Trust Co. of Virginia VA decreased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 2.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,406 shares of the software maker’s stock after selling 275 shares during the quarter. Trust Co. of Virginia VA’s holdings in Intuit were worth $3,503,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of INTU. FMR LLC grew its stake in shares of Intuit by 10.0% in the first quarter. FMR LLC now owns 10,219,799 shares of the software maker’s stock valued at $2,671,557,000 after buying an additional 930,221 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Intuit by 28.7% in the second quarter. Janus Henderson Group PLC now owns 4,752,482 shares of the software maker’s stock valued at $1,241,949,000 after buying an additional 1,060,033 shares in the last quarter. Fundsmith LLP grew its stake in shares of Intuit by 1.3% in the first quarter. Fundsmith LLP now owns 4,481,318 shares of the software maker’s stock valued at $1,171,461,000 after buying an additional 55,544 shares in the last quarter. Geode Capital Management LLC grew its stake 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 buying an additional 118,956 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Intuit by 1.6% in the first quarter. Northern Trust Corp now owns 3,271,541 shares of the software maker’s stock valued at $855,213,000 after buying an additional 52,834 shares in the last quarter. 89.76% of the stock is owned by institutional investors.

INTU has been the subject of a number of recent research reports. BidaskClub upgraded Intuit from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 9th. Credit Suisse Group lifted their target price on Intuit from $260.00 to $265.00 and gave the company an “outperform” rating in a report on Friday, May 24th. UBS Group lifted their target price on Intuit from $245.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, May 24th. ValuEngine lowered Intuit from a “strong-buy” rating to a “buy” rating in a report on Friday, April 26th. Finally, Stifel Nicolaus lifted their target price on Intuit from $258.00 to $290.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Intuit currently has a consensus rating of “Buy” and an average price target of $254.15.

In related news, Chairman Scott D. Cook sold 103,817 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $258.59, for a total value of $26,846,038.03. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Michelle M. Clatterbuck sold 10,628 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $256.27, for a total value of $2,723,637.56. Following the completion of the transaction, the chief financial officer now owns 10,628 shares in the company, valued at approximately $2,723,637.56. The disclosure for this sale can be found here. Insiders sold a total of 277,296 shares of company stock worth $72,342,898 in the last 90 days. 4.60% of the stock is currently owned by insiders.

Shares of INTU traded up $2.86 during midday trading on Monday, reaching $273.82. 24,529 shares of the stock were exchanged, compared to its average volume of 1,194,202. The business’s 50-day moving average price is $275.06 and its 200 day moving average price is $256.13. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.85 and a quick ratio of 1.85. Intuit Inc. has a twelve month low of $182.61 and a twelve month high of $284.97. The company has a market capitalization of $69.59 billion, a price-to-earnings ratio of 60.48, a PEG ratio of 2.69 and a beta of 1.10.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, May 23rd. The software maker reported $5.55 EPS for the quarter, topping the Zacks’ consensus estimate of $5.12 by $0.43. The business had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.23 billion. Intuit had a return on equity of 52.65% and a net margin of 24.34%. The business’s revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.82 earnings per share. As a group, equities research analysts expect that Intuit Inc. will post 5.49 earnings per share for the current fiscal year.

Intuit Company 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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