Financial Advisors Network Inc. Has $364,000 Stake in Intuit Inc. (INTU)
Financial Advisors Network Inc. boosted its position in Intuit Inc. (NASDAQ:INTU) by 2.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,740 shares of the software maker’s stock after buying an additional 74 shares during the period. Financial Advisors Network Inc.’s holdings in Intuit were worth $364,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Fox Run Management L.L.C. purchased a new position in shares of Intuit during the first quarter worth $522,000. Palisade Capital Management LLC NJ increased its position in shares of Intuit by 3.2% in the first quarter. Palisade Capital Management LLC NJ now owns 5,315 shares of the software maker’s stock worth $616,000 after buying an additional 165 shares during the period. DnB Asset Management AS increased its position in shares of Intuit by 21.5% in the first quarter. DnB Asset Management AS now owns 25,423 shares of the software maker’s stock worth $2,949,000 after buying an additional 4,500 shares during the period. Quantitative Systematic Strategies LLC purchased a new position in shares of Intuit during the first quarter worth $224,000. Finally, State of Alaska Department of Revenue purchased a new position in shares of Intuit during the first quarter worth $238,000. Institutional investors and hedge funds own 85.18% of the company’s stock.
Shares of Intuit Inc. (NASDAQ:INTU) opened at 134.11 on Friday. Intuit Inc. has a 52 week low of $103.22 and a 52 week high of $143.81. The stock has a market cap of $34.36 billion, a PE ratio of 38.54 and a beta of 1.15. The company’s 50-day moving average is $135.05 and its 200 day moving average is $128.38.
Intuit (NASDAQ:INTU) last announced its earnings results on Tuesday, May 23rd. The software maker reported $3.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.87 by $0.03. The company had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Intuit had a net margin of 17.82% and a return on equity of 80.88%. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.43 earnings per share. Analysts forecast that Intuit Inc. will post $4.39 earnings per share for the current fiscal year.
A number of research analysts have weighed in on INTU shares. Barclays PLC decreased their price objective on shares of Intuit from $129.00 to $124.00 and set an “equal weight” rating for the company in a research report on Monday, April 24th. Benchmark Co. started coverage on shares of Intuit in a research report on Thursday, April 27th. They issued a “buy” rating and a $140.00 price objective for the company. Royal Bank Of Canada upped their price objective on shares of Intuit from $126.00 to $140.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 24th. Stifel Nicolaus upped their price objective on shares of Intuit from $115.00 to $132.00 and gave the stock a “hold” rating in a research report on Wednesday, May 24th. Finally, Deutsche Bank AG upped their price objective on shares of Intuit from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, May 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $135.63.
In other Intuit news, EVP Daniel A. Wernikoff sold 15,684 shares of Intuit stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $140.50, for a total transaction of $2,203,602.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Henry Tayloe Stansbury sold 1,871 shares of Intuit stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $135.29, for a total transaction of $253,127.59. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 151,265 shares of company stock valued at $21,085,104. 5.70% of the stock is currently owned by company insiders.
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 ProConnect. The Small Business segment serves and advises small businesses and the accounting professionals, and includes QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions.
Want to see what other hedge funds are holding INTU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intuit Inc. (NASDAQ:INTU).
Receive News & Ratings for Intuit Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intuit Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.