TD Waterhouse Canada Inc. Has $7.60 Million Position in Intuit Inc. $INTU

TD Waterhouse Canada Inc. decreased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 14.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,751 shares of the software maker’s stock after selling 1,661 shares during the period. TD Waterhouse Canada Inc.’s holdings in Intuit were worth $7,597,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Renaissance Group LLC acquired a new position in shares of Intuit during the 2nd quarter valued at $35,711,000. Brown Wealth Management LLC bought a new stake in Intuit in the second quarter valued at $243,000. Investidor Profissional Gestao de Recursos Ltda. raised its holdings in shares of Intuit by 9.8% during the second quarter. Investidor Profissional Gestao de Recursos Ltda. now owns 885 shares of the software maker’s stock valued at $697,000 after purchasing an additional 79 shares during the period. Wealthspire Advisors LLC boosted its position in shares of Intuit by 13.7% during the 2nd quarter. Wealthspire Advisors LLC now owns 2,348 shares of the software maker’s stock worth $1,849,000 after purchasing an additional 283 shares in the last quarter. Finally, Perennial Investment Advisors LLC grew its stake in shares of Intuit by 9.6% in the 2nd quarter. Perennial Investment Advisors LLC now owns 650 shares of the software maker’s stock valued at $512,000 after buying an additional 57 shares during the period. 83.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CFO Sandeep Aujla sold 1,170 shares of Intuit stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $677.06, for a total value of $792,160.20. Following the completion of the transaction, the chief financial officer directly owned 1,295 shares in the company, valued at approximately $876,792.70. The trade was a 47.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Scott D. Cook sold 529 shares of the company’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $664.99, for a total transaction of $351,779.71. Following the sale, the director directly owned 6,162,547 shares in the company, valued at $4,098,032,129.53. This trade represents a 0.01% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 2,407 shares of company stock valued at $1,614,913. 2.68% of the stock is owned by insiders.

Intuit Trading Up 0.1%

Shares of INTU stock opened at $650.62 on Thursday. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $813.70. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.30. The company has a 50 day moving average of $666.42 and a 200-day moving average of $707.07. The firm has a market cap of $181.40 billion, a P/E ratio of 47.35, a PEG ratio of 2.53 and a beta of 1.25.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, August 21st. The software maker reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.66 by $0.09. The business had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.75 billion. Intuit had a return on equity of 22.72% and a net margin of 20.55%.Intuit’s revenue was up 20.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.99 earnings per share. Sell-side analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on INTU shares. UBS Group cut their price target on Intuit from $750.00 to $725.00 and set a “neutral” rating on the stock in a report on Friday, August 22nd. Independent Research set a $875.00 price target on shares of Intuit in a research report on Tuesday. Barclays dropped their price objective on shares of Intuit from $815.00 to $785.00 and set an “overweight” rating on the stock in a research note on Friday, August 22nd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $850.00 price target on shares of Intuit in a research report on Tuesday, September 2nd. Finally, Rothschild & Co Redburn boosted their price objective on Intuit from $560.00 to $670.00 and gave the stock a “neutral” rating in a report on Tuesday, September 23rd. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $799.35.

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.