Intuit Inc. (NASDAQ:INTU) Shares Purchased by Jacobson & Schmitt Advisors LLC
Jacobson & Schmitt Advisors LLC increased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 1.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,648 shares of the software maker’s stock after acquiring an additional 394 shares during the period. Intuit makes up approximately 3.6% of Jacobson & Schmitt Advisors LLC’s portfolio, making the stock its 16th biggest holding. Jacobson & Schmitt Advisors LLC’s holdings in Intuit were worth $6,180,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in INTU. Janus Henderson Group PLC grew its holdings in Intuit by 28.7% during the second quarter. Janus Henderson Group PLC now owns 4,752,482 shares of the software maker’s stock worth $1,241,949,000 after acquiring an additional 1,060,033 shares during the period. FMR LLC grew its holdings in Intuit by 10.0% in the first quarter. FMR LLC now owns 10,219,799 shares of the software maker’s stock valued at $2,671,557,000 after purchasing an additional 930,221 shares during the last quarter. Ellis Investment Partners LLC grew its holdings in Intuit by 26,041.0% in the first quarter. Ellis Investment Partners LLC now owns 901,864 shares of the software maker’s stock valued at $901,000 after purchasing an additional 898,414 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Intuit by 25.7% in the first quarter. JPMorgan Chase & Co. now owns 2,037,451 shares of the software maker’s stock valued at $532,611,000 after purchasing an additional 416,794 shares during the last quarter. Finally, Thoroughbred Financial Services LLC grew its holdings in Intuit by 27,128.6% in the second quarter. Thoroughbred Financial Services LLC now owns 364,319 shares of the software maker’s stock valued at $36,432,000 after purchasing an additional 362,981 shares during the last quarter. 89.76% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have weighed in on INTU shares. Zacks Investment Research lowered Intuit from a “buy” rating to a “hold” rating and set a $268.00 target price on the stock. in a report on Wednesday, May 29th. BidaskClub raised Intuit from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 9th. Morgan Stanley upped their target price on Intuit from $239.00 to $244.00 and gave the company an “equal weight” rating in a report on Friday, May 24th. Credit Suisse Group upped their target price on Intuit from $260.00 to $265.00 and gave the company an “outperform” rating in a report on Friday, May 24th. Finally, ValuEngine lowered Intuit from a “strong-buy” rating to a “buy” rating in a report on Friday, April 26th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $254.15.
Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, May 23rd. The software maker reported $5.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $5.12 by $0.43. Intuit had a return on equity of 52.65% and a net margin of 24.34%. The business had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.23 billion. During the same period in the prior year, the business earned $4.82 earnings per share. The business’s revenue was up 12.4% on a year-over-year basis. As a group, equities analysts predict that Intuit Inc. will post 5.49 EPS for the current year.
In related news, CFO Michelle M. Clatterbuck sold 10,628 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $256.27, for a total transaction of $2,723,637.56. Following the transaction, the chief financial officer now directly owns 10,628 shares in the company, valued at $2,723,637.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Scott D. Cook sold 29,517 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $261.67, for a total value of $7,723,713.39. The disclosure for this sale can be found here. Insiders sold 277,296 shares of company stock worth $72,342,898 over the last 90 days. Company insiders own 4.60% of the company’s stock.
Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.
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