Castlekeep Investment Advisors LLC Invests $5.14 Million in Intuit Inc. (NASDAQ:INTU)

Castlekeep Investment Advisors LLC bought a new stake in Intuit Inc. (NASDAQ:INTU) during the fourth quarter, Holdings Channel.com reports. The fund bought 8,171 shares of the software maker’s stock, valued at approximately $5,135,000. Intuit accounts for approximately 0.8% of Castlekeep Investment Advisors LLC’s holdings, making the stock its 26th largest position.

Several other hedge funds have also bought and sold shares of INTU. R Squared Ltd bought a new position in shares of Intuit in the 4th quarter worth $25,000. NewSquare Capital LLC grew its position in Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after acquiring an additional 18 shares in the last quarter. Heck Capital Advisors LLC bought a new position in Intuit in the fourth quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Intuit during the fourth quarter valued at about $28,000. Finally, Summit Securities Group LLC bought a new stake in Intuit during the fourth quarter worth about $28,000. 83.66% of the stock is currently owned by institutional investors.

Intuit Stock Performance

Intuit stock opened at $720.13 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm has a market cap of $201.32 billion, a P/E ratio of 69.92, a P/E/G ratio of 2.85 and a beta of 1.24. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $734.18. The firm has a 50-day moving average of $616.76 and a 200-day moving average of $621.21.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping the consensus estimate of $10.89 by $0.76. The business had revenue of $7.75 billion during 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 business’s revenue was up 15.1% on a year-over-year basis. During the same quarter last year, the business posted $9.88 EPS. Sell-side analysts expect that Intuit Inc. will post 14.09 EPS for the current year.

Insider Activity at Intuit

In other Intuit news, Director Eve B. Burton sold 1,702 shares of the business’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the transaction, the director now directly owns 8 shares of the company’s stock, valued at approximately $4,800. The trade was a 99.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Laura A. Fennell sold 8,163 shares of the company’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the completion of the transaction, the executive vice president now owns 21,882 shares of the company’s stock, valued at $13,401,849.72. This trade represents a 27.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,696 shares of company stock worth $14,347,731 over the last quarter. 2.68% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

INTU has been the topic of several recent research reports. JPMorgan Chase & Co. increased their price objective on Intuit from $660.00 to $770.00 and gave the company an “overweight” rating in a research report on Friday. Wells Fargo & Company upped their target price on Intuit from $775.00 to $825.00 and gave the stock an “overweight” rating in a research note on Friday. KeyCorp increased their price target on shares of Intuit from $770.00 to $850.00 and gave the company an “overweight” rating in a research report on Friday. Redburn Atlantic began coverage on shares of Intuit in a report on Wednesday, February 19th. They issued a “neutral” rating for the company. Finally, Hsbc Global Res raised shares of Intuit from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $785.33.

About Intuit

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.