Quest Capital Management Inc. ADV Sells 127,847 Shares of Intuit Inc. (NASDAQ:INTU)

Quest Capital Management Inc. ADV lessened its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 99.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,029 shares of the software maker’s stock after selling 127,847 shares during the quarter. Quest Capital Management Inc. ADV’s holdings in Intuit were worth $269,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in Intuit by 2.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 727,285 shares of the software maker’s stock valued at $143,169,000 after acquiring an additional 19,825 shares during the last quarter. Geode Capital Management LLC raised its holdings in Intuit by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 3,709,006 shares of the software maker’s stock valued at $728,975,000 after acquiring an additional 118,956 shares during the last quarter. Wedbush Securities Inc. raised its holdings in Intuit by 13.8% in the 1st quarter. Wedbush Securities Inc. now owns 1,967 shares of the software maker’s stock valued at $514,000 after acquiring an additional 238 shares during the last quarter. Financial Gravity Wealth Inc. acquired a new stake in Intuit in the 1st quarter valued at about $28,000. Finally, Boenning & Scattergood Inc. acquired a new stake in Intuit in the 1st quarter valued at about $221,000. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ INTU traded down $0.60 during midday trading on Tuesday, reaching $273.63. 11,930 shares of the stock were exchanged, compared to its average volume of 1,167,378. The company has a 50 day simple moving average of $275.73 and a 200 day simple moving average of $256.37. The stock has a market capitalization of $70.24 billion, a P/E ratio of 60.31, a PEG ratio of 2.72 and a beta of 1.10. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.85 and a current ratio of 1.85. Intuit Inc. has a twelve month low of $182.61 and a twelve month high of $284.97.



Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, May 23rd. The software maker reported $5.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $5.12 by $0.43. The business had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.23 billion. Intuit had a net margin of 24.34% and a return on equity of 52.65%. The business’s revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the firm earned $4.82 EPS. On average, research analysts expect that Intuit Inc. will post 5.49 earnings per share for the current year.

A number of analysts have commented on INTU shares. Barclays increased their price objective on shares of Intuit from $225.00 to $237.00 and gave the company an “equal weight” rating in a report on Friday, May 24th. Credit Suisse Group increased their price objective on shares of Intuit from $260.00 to $265.00 and gave the company an “outperform” rating in a report on Friday, May 24th. UBS Group increased their price objective on shares of Intuit from $245.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, May 24th. KeyCorp increased their price objective on shares of Intuit from $280.00 to $285.00 and gave the company an “overweight” rating in a report on Friday, May 24th. Finally, Stifel Nicolaus increased their price objective on shares of Intuit from $258.00 to $290.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $254.15.

In related news, Chairman Scott D. Cook sold 29,517 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $261.67, for a total transaction of $7,723,713.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michelle M. Clatterbuck sold 10,628 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $2,723,637.56. The disclosure for this sale can be found here. Insiders have sold a total of 277,296 shares of company stock valued at $72,342,898 in the last 90 days. Insiders own 4.60% of the company’s stock.

About Intuit

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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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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