Sompo Japan Nipponkoa Asset Management CO. LTD. grew its stake in shares of Intuit Inc. (NASDAQ:INTU) by 45.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,070 shares of the software maker’s stock after acquiring an additional 2,220 shares during the quarter. Sompo Japan Nipponkoa Asset Management CO. LTD.’s holdings in Intuit were worth $1,626,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of INTU. Atlas Private Wealth Management acquired a new position in shares of Intuit during the 4th quarter valued at about $26,000. Laurel Wealth Advisors LLC grew its holdings in shares of Intuit by 50.0% during the 1st quarter. Laurel Wealth Advisors LLC now owns 120 shares of the software maker’s stock worth $28,000 after purchasing an additional 40 shares during the period. Virtus ETF Advisers LLC purchased a new stake in shares of Intuit during the 4th quarter worth about $31,000. Cognios Capital LLC purchased a new stake in shares of Intuit during the 1st quarter worth about $32,000. Finally, Ameritas Investment Company LLC grew its holdings in shares of Intuit by 958.3% during the 4th quarter. Ameritas Investment Company LLC now owns 127 shares of the software maker’s stock worth $33,000 after purchasing an additional 115 shares during the period. 86.39% of the stock is owned by institutional investors.
Shares of Intuit stock traded down $2.39 on Friday, hitting $287.61. 1,738,172 shares of the company’s stock traded hands, compared to its average volume of 1,095,271. The stock 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 company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.10. The firm’s 50-day moving average is $262.98 and its 200 day moving average is $266.23. Intuit Inc. has a 52-week low of $187.68 and a 52-week high of $306.89.
Intuit (NASDAQ:INTU) last released its earnings results on Thursday, May 21st. The software maker reported $4.49 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $4.60 by ($0.11). The business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3 billion. Intuit had a net margin of 19.50% and a return on equity of 34.27%. The business’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same quarter last year, the company posted $5.55 earnings per share. Equities research analysts forecast that Intuit Inc. will post 5.85 EPS for the current year.
INTU has been the subject of a number of research reports. UBS Group boosted their target price on Intuit from $285.00 to $303.00 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. Zacks Investment Research upgraded Intuit from a “hold” rating to a “buy” rating and set a $265.00 price target for the company in a report on Monday, April 13th. Mizuho upped their price target on Intuit from $280.00 to $330.00 and gave the stock a “buy” rating in a report on Friday. Cfra cut Intuit from a “hold” rating to a “sell” rating in a report on Monday, April 6th. Finally, Bank of America upped their price target on Intuit from $270.00 to $320.00 and gave the stock a “buy” rating in a report on Friday. Two analysts have rated the stock with a sell rating, five have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target 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.
Further Reading: Stock Portfolio Tracker
Want to see what other hedge funds are holding INTU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intuit Inc. (NASDAQ:INTU).
Receive News & Ratings for Intuit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intuit and related companies with MarketBeat.com's FREE daily email newsletter.