Prudential PLC Has $30.39 Million Stock Position in Intuit Inc. $INTU

Prudential PLC increased its holdings in Intuit Inc. (NASDAQ:INTU) by 9.6% in the 2nd quarter, Holdings Channel reports. The fund owned 38,583 shares of the software maker’s stock after purchasing an additional 3,375 shares during the period. Prudential PLC’s holdings in Intuit were worth $30,389,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of INTU. Nuveen LLC purchased a new stake in shares of Intuit in the first quarter worth approximately $882,031,000. Nicholas Hoffman & Company LLC. purchased a new position in Intuit during the first quarter valued at approximately $785,564,000. Price T Rowe Associates Inc. MD increased its stake in Intuit by 7.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,018,770 shares of the software maker’s stock valued at $5,537,435,000 after buying an additional 649,212 shares during the period. Vanguard Group Inc. increased its stake in Intuit by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 27,707,966 shares of the software maker’s stock valued at $21,823,625,000 after buying an additional 377,657 shares during the period. Finally, Wellington Management Group LLP lifted its position in Intuit by 6.8% in the 1st quarter. Wellington Management Group LLP now owns 5,655,249 shares of the software maker’s stock worth $3,472,266,000 after buying an additional 358,328 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling

In related news, Director Scott D. Cook sold 529 shares of the business’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 value of $351,779.71. Following the completion of the sale, the director directly owned 6,162,547 shares in the company, valued at approximately $4,098,032,129.53. The trade was a 0.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Sandeep Aujla sold 1,170 shares of the stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $677.06, for a total value of $792,160.20. Following the transaction, the chief financial officer owned 1,295 shares in the company, valued at approximately $876,792.70. This trade represents a 47.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 2,407 shares of company stock worth $1,614,913. 2.68% of the stock is currently owned by insiders.

Intuit Price Performance

NASDAQ INTU opened at $650.62 on Thursday. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $813.70. The stock’s 50-day moving average is $666.42 and its two-hundred day moving average is $707.07. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.36 and a quick ratio of 1.36. The firm has a market cap of $181.40 billion, a P/E ratio of 47.35, a price-to-earnings-growth ratio of 2.53 and a beta of 1.25.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, August 21st. The software maker reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.66 by $0.09. The company had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.75 billion. Intuit had a return on equity of 22.72% and a net margin of 20.55%.The firm’s revenue was up 20.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.99 EPS. On average, analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

INTU has been the topic of several research analyst reports. Morgan Stanley lowered their price target on shares of Intuit from $900.00 to $880.00 and set an “overweight” rating on the stock in a report on Friday, August 22nd. Oppenheimer lifted their price objective on Intuit from $742.00 to $868.00 and gave the company an “outperform” rating in a research report on Monday, July 28th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $850.00 target price on shares of Intuit in a research report on Tuesday, September 2nd. Independent Research set a $875.00 price target on Intuit in a research note on Tuesday. Finally, Barclays reduced their price target on Intuit from $815.00 to $785.00 and set an “overweight” rating for the company in a report on Friday, August 22nd. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and a consensus price target of $799.35.

Intuit Company 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.