Alberta Investment Management Corp grew its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 215.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,100 shares of the software maker’s stock after purchasing an additional 6,900 shares during the period. Alberta Investment Management Corp’s holdings in Intuit were worth $2,323,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of INTU. NEXT Financial Group Inc raised its holdings in shares of Intuit by 3.0% during the fourth quarter. NEXT Financial Group Inc now owns 1,320 shares of the software maker’s stock worth $346,000 after purchasing an additional 38 shares during the period. RFG Advisory LLC acquired a new stake in shares of Intuit during the fourth quarter worth $303,000. Mckinley Capital Management LLC Delaware raised its holdings in shares of Intuit by 0.9% during the fourth quarter. Mckinley Capital Management LLC Delaware now owns 6,478 shares of the software maker’s stock worth $1,697,000 after purchasing an additional 60 shares during the period. Landsberg Bennett & Dubbaneh LLC acquired a new stake in shares of Intuit during the fourth quarter worth $471,000. Finally, Valeo Financial Advisors LLC raised its holdings in shares of Intuit by 134.8% during the fourth quarter. Valeo Financial Advisors LLC now owns 331 shares of the software maker’s stock worth $87,000 after purchasing an additional 190 shares during the period. 86.39% of the stock is currently owned by institutional investors.
A number of analysts have weighed in on the stock. Wells Fargo & Co increased their target price on shares of Intuit from $310.00 to $330.00 and gave the stock an “overweight” rating in a report on Friday. BidaskClub raised shares of Intuit from a “buy” rating to a “strong-buy” rating in a report on Friday, May 8th. Barclays increased their price objective on shares of Intuit from $295.00 to $300.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 25th. Jefferies Financial Group increased their price objective on shares of Intuit from $320.00 to $340.00 and gave the stock a “buy” rating in a report on Friday. Finally, Credit Suisse Group increased their price objective on shares of Intuit from $300.00 to $310.00 in a report on Tuesday, February 25th. Two 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 assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $306.00.
Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, May 21st. The software maker reported $4.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.60 by ($0.11). The company had revenue of $3 billion during the quarter, compared to analyst estimates of $3 billion. Intuit had a return on equity of 34.27% and a net margin of 19.50%. The company’s revenue was down 8.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.55 EPS. As a group, research analysts forecast that Intuit Inc. will post 5.85 earnings per share for the current fiscal year.
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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