Hancock Whitney Corp Trims Position in Intuit Inc. (NASDAQ:INTU)

Hancock Whitney Corp decreased its position in shares of Intuit Inc. (NASDAQ:INTU) by 82.2% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 9,064 shares of the software maker’s stock after selling 41,862 shares during the period. Hancock Whitney Corp’s holdings in Intuit were worth $2,084,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. YCG LLC raised its stake in Intuit by 7.6% during the first quarter. YCG LLC now owns 56,557 shares of the software maker’s stock worth $12,687,000 after purchasing an additional 3,993 shares during the period. Carnegie Capital Asset Management LLC raised its stake in Intuit by 49.8% during the first quarter. Carnegie Capital Asset Management LLC now owns 1,422 shares of the software maker’s stock worth $327,000 after purchasing an additional 473 shares during the period. Alberta Investment Management Corp raised its stake in Intuit by 215.6% during the first quarter. Alberta Investment Management Corp now owns 10,100 shares of the software maker’s stock worth $2,323,000 after purchasing an additional 6,900 shares during the period. Ontario Teachers Pension Plan Board raised its stake in Intuit by 11.5% during the first quarter. Ontario Teachers Pension Plan Board now owns 21,634 shares of the software maker’s stock worth $4,976,000 after purchasing an additional 2,231 shares during the period. Finally, Citizens Financial Group Inc RI raised its stake in Intuit by 46.6% during the first quarter. Citizens Financial Group Inc RI now owns 4,733 shares of the software maker’s stock worth $1,089,000 after purchasing an additional 1,505 shares during the period. 86.39% of the stock is currently owned by institutional investors and hedge funds.

INTU has been the topic of a number of recent analyst reports. Guggenheim reiterated a “” rating and set a $320.00 price target (up previously from $300.00) on shares of Intuit in a research note on Friday. Royal Bank of Canada increased their price target on shares of Intuit from $280.00 to $315.00 and gave the stock an “outperform” rating in a research note on Friday. Stifel Nicolaus cut their price target on shares of Intuit from $315.00 to $300.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Zacks Investment Research raised shares of Intuit from a “hold” rating to a “buy” rating and set a $265.00 price objective for the company in a research report on Monday, April 13th. Finally, Credit Suisse Group increased their price objective on shares of Intuit from $300.00 to $310.00 in a research report on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, five have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $306.00.

INTU opened at $287.61 on Friday. The company has a fifty day simple moving average of $262.98 and a 200 day simple moving average of $266.23. The firm has a market cap of $75.54 billion, a price-to-earnings ratio of 56.73, a PEG ratio of 3.89 and a beta of 1.05. Intuit Inc. has a twelve month low of $187.68 and a twelve month high of $306.89. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.10.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, May 21st. The software maker reported $4.49 earnings per share for the quarter, missing the Zacks’ consensus estimate of $4.60 by ($0.11). The firm had revenue of $3 billion for the quarter, compared to analyst estimates of $3 billion. Intuit had a net margin of 19.50% and a return on equity of 34.27%. Intuit’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same period in the previous year, the business posted $5.55 earnings per share. On average, analysts forecast that Intuit Inc. will post 5.85 earnings per share for the current fiscal year.

Intuit Company Profile

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.

Further Reading: What are Institutional Investors?

Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

Receive News & Ratings for Intuit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intuit and related companies with MarketBeat.com's FREE daily email newsletter.