Chevy Chase Trust Holdings Inc. reduced its stake in shares of Intuit Inc. (NASDAQ:INTU) by 6.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 207,429 shares of the company’s stock after selling 14,400 shares during the period. Chevy Chase Trust Holdings Inc. owned 0.08% of Intuit worth $22,820,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Marvin & Palmer Associates Inc. boosted its stake in Intuit by 15.7% in the second quarter. Marvin & Palmer Associates Inc. now owns 18,650 shares of the company’s stock valued at $2,082,000 after buying an additional 2,525 shares in the last quarter. RS Investment Management Co. LLC boosted its position in shares of Intuit by 0.8% in the second quarter. RS Investment Management Co. LLC now owns 184,640 shares of the company’s stock valued at $20,608,000 after buying an additional 1,490 shares during the period. Strs Ohio boosted its position in shares of Intuit by 209.6% in the second quarter. Strs Ohio now owns 567,793 shares of the company’s stock valued at $63,371,000 after buying an additional 384,420 shares during the period. Ferguson Wellman Capital Management Inc. boosted its position in shares of Intuit by 1.4% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 139,874 shares of the company’s stock valued at $15,611,000 after buying an additional 1,955 shares during the period. Finally, Engineers Gate Manager LP purchased a new position in shares of Intuit during the second quarter valued at about $5,362,000. Hedge funds and other institutional investors own 84.72% of the company’s stock.

Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

Intuit Inc. (NASDAQ:INTU) opened at 115.98 on Friday. The firm’s 50-day moving average price is $108.63 and its 200 day moving average price is $109.09. The company has a market capitalization of $29.92 billion, a price-to-earnings ratio of 31.41 and a beta of 1.08. Intuit Inc. has a 12-month low of $88.17 and a 12-month high of $116.97.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, November 17th. The company reported $0.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.03. Intuit had a net margin of 20.59% and a return on equity of 81.13%. The company had revenue of $778 million for the quarter, compared to analysts’ expectations of $754.36 million. During the same period last year, the firm earned $0.09 earnings per share. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, equities research analysts expect that Intuit Inc. will post $4.34 EPS for the current fiscal year.

Several equities analysts have recently issued reports on INTU shares. Citigroup Inc. reiterated a “buy” rating and set a $128.00 price target on shares of Intuit in a research report on Wednesday, August 24th. Oppenheimer Holdings Inc. lifted their price target on Intuit from $113.00 to $116.00 and gave the company an “outperform” rating in a research report on Thursday, August 25th. Morgan Stanley cut Intuit from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $109.54 to $105.00 in a research report on Tuesday, September 13th. Goldman Sachs Group Inc. lifted their price target on Intuit from $123.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, August 24th. Finally, Credit Suisse Group AG reissued a “neutral” rating and set a $100.00 price objective on shares of Intuit in a research note on Wednesday, August 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $195.28.

In related news, EVP Sasan K. Goodarzi sold 7,350 shares of the stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $110.00, for a total transaction of $808,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Henry Tayloe Stansbury sold 1,871 shares of the stock in a transaction that occurred on Monday, September 26th. The stock was sold at an average price of $109.19, for a total transaction of $204,294.49. Following the sale, the executive vice president now owns 2,541 shares in the company, valued at approximately $277,451.79. The disclosure for this sale can be found here. Insiders own 5.50% of the company’s stock.

Intuit Company Profile

Intuit Inc is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. The Company operates through three segments: Small Business, Consumer Tax and Professional Tax. The Company operates in the United States, Canada, India, the United Kingdom, Singapore and Australia, among others.

5 Day Chart for NASDAQ:INTU

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