Cigna Investments Inc. New lifted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 3.5% in the 1st quarter, HoldingsChannel.com reports. The fund owned 13,693 shares of the software maker’s stock after purchasing an additional 460 shares during the quarter. Cigna Investments Inc. New’s holdings in Intuit were worth $3,150,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in INTU. Atlas Private Wealth Management bought a new stake in Intuit in the 4th quarter valued at $26,000. Virtus ETF Advisers LLC bought a new stake in Intuit in the 4th quarter valued at $31,000. Laurel Wealth Advisors LLC boosted its stake in Intuit by 50.0% in the 1st quarter. Laurel Wealth Advisors LLC now owns 120 shares of the software maker’s stock valued at $28,000 after purchasing an additional 40 shares during the period. Ameritas Investment Company LLC boosted its stake in Intuit by 958.3% in the 4th quarter. Ameritas Investment Company LLC now owns 127 shares of the software maker’s stock valued at $33,000 after purchasing an additional 115 shares during the period. Finally, Aigen Investment Management LP bought a new stake in Intuit in the 4th quarter valued at $35,000. Institutional investors and hedge funds own 86.39% of the company’s stock.
Shares of Intuit stock traded down $2.39 during trading on Friday, reaching $287.61. 1,738,172 shares of the company’s stock were exchanged, compared to its average volume of 1,095,271. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.67 and a current ratio of 1.67. Intuit Inc. has a 1-year low of $187.68 and a 1-year high of $306.89. The company has a market cap of $75.54 billion, a P/E ratio of 56.73, a PEG ratio of 3.89 and a beta of 1.05. The firm’s 50-day moving average price is $262.98 and its 200 day moving average price is $266.23.
Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, May 21st. The software maker reported $4.49 EPS for the quarter, missing analysts’ consensus estimates of $4.60 by ($0.11). Intuit had a return on equity of 34.27% and a net margin of 19.50%. The business had revenue of $3 billion for the quarter, compared to analyst estimates of $3 billion. During the same period last year, the firm posted $5.55 EPS. Intuit’s quarterly revenue was down 8.3% on a year-over-year basis. As a group, equities research analysts predict that Intuit Inc. will post 5.85 EPS for the current year.
Several analysts recently issued reports on the company. Barclays boosted their price target on Intuit from $295.00 to $300.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 25th. Jefferies Financial Group boosted their price target on Intuit from $320.00 to $340.00 and gave the company a “buy” rating in a research note on Friday. Bank of America boosted their price target on Intuit from $270.00 to $320.00 and gave the company a “buy” rating in a research note on Friday. Wells Fargo & Co upped their target price on Intuit from $310.00 to $330.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Mizuho upped their target price on Intuit from $280.00 to $330.00 and gave the company a “buy” rating in a research report on Friday. Two research analysts have rated the stock with a sell rating, five have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $306.00.
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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