Cache Advisors LLC Invests $2.20 Million in Intuit Inc. (NASDAQ:INTU)

Cache Advisors LLC acquired a new position in shares of Intuit Inc. (NASDAQ:INTU) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 3,493 shares of the software maker’s stock, valued at approximately $2,195,000. Intuit makes up 0.8% of Cache Advisors LLC’s portfolio, making the stock its 26th biggest position.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. R Squared Ltd purchased a new stake in shares of Intuit during the fourth quarter worth about $25,000. NewSquare Capital LLC boosted its stake in Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after purchasing an additional 18 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in Intuit during the 4th quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Intuit during the 4th quarter valued at approximately $28,000. Finally, Summit Securities Group LLC acquired a new position in Intuit during the 4th quarter valued at approximately $28,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other news, Director Eve B. Burton sold 1,702 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the completion of the transaction, the director now directly owns 8 shares of the company’s stock, valued at $4,800. This represents a 99.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Marianna Tessel sold 7,385 shares of Intuit stock in a transaction on Friday, March 21st. The shares were sold at an average price of $600.13, for a total transaction of $4,431,960.05. Following the completion of the sale, the executive vice president now directly owns 40,190 shares in the company, valued at $24,119,224.70. This represents a 15.52% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,696 shares of company stock valued at $14,347,731. Company insiders own 2.68% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on INTU shares. UBS Group lifted their price objective on shares of Intuit from $720.00 to $750.00 and gave the stock a “neutral” rating in a research note on Friday. Royal Bank of Canada lifted their price target on Intuit from $760.00 to $850.00 and gave the stock an “outperform” rating in a research report on Friday. The Goldman Sachs Group increased their price objective on Intuit from $750.00 to $860.00 and gave the company a “buy” rating in a report on Monday. Redburn Atlantic initiated coverage on Intuit in a report on Wednesday, February 19th. They set a “neutral” rating for the company. Finally, BMO Capital Markets upped their target price on Intuit from $714.00 to $820.00 and gave the company an “outperform” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $785.33.

Intuit Stock Up 8.1%

INTU stock opened at $720.13 on Friday. Intuit Inc. has a one year low of $532.65 and a one year high of $734.18. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The firm’s fifty day moving average is $616.76 and its 200 day moving average is $621.21. The firm has a market cap of $201.32 billion, a PE ratio of 69.92, a P/E/G ratio of 2.85 and a beta of 1.24.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, beating analysts’ consensus estimates of $10.89 by $0.76. The firm had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.56 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period last year, the firm earned $9.88 EPS. On average, research analysts forecast that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Profile

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.