Intuit Inc. (NASDAQ:INTU) Shares Sold by Raymond James Trust N.A.

Raymond James Trust N.A. decreased its position in Intuit Inc. (NASDAQ:INTU) by 0.4% in the third quarter, Holdings Channel reports. The institutional investor owned 10,869 shares of the software maker’s stock after selling 46 shares during the period. Raymond James Trust N.A.’s holdings in Intuit were worth $6,750,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. LGT Financial Advisors LLC purchased a new position in shares of Intuit during the 2nd quarter valued at approximately $25,000. Cultivar Capital Inc. purchased a new position in Intuit during the second quarter valued at $26,000. Fairway Wealth LLC acquired a new stake in shares of Intuit in the second quarter valued at about $26,000. Northwest Investment Counselors LLC purchased a new stake in shares of Intuit during the third quarter worth about $27,000. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Intuit during the 2nd quarter worth about $35,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

INTU has been the topic of several research analyst reports. StockNews.com cut Intuit from a “buy” rating to a “hold” rating in a report on Friday. Stifel Nicolaus lowered their price target on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday. Barclays reduced their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday. BMO Capital Markets lifted their target price on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Finally, Jefferies Financial Group increased their target price on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research report on Friday. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $737.44.

Insider Transactions at Intuit

In other Intuit news, CFO Sandeep Aujla sold 862 shares of Intuit stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the completion of the transaction, the chief financial officer now directly owns 3,840 shares of the company’s stock, valued at $2,384,755.20. The trade was a 18.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kerry J. Mclean sold 11,079 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the completion of the transaction, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at approximately $15,752,985.01. The trade was a 30.76 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,297 shares of company stock worth $35,220,046. 2.90% of the stock is currently owned by insiders.

Intuit Price Performance

INTU stock opened at $640.12 on Friday. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78. The business has a fifty day moving average of $634.81 and a two-hundred day moving average of $631.27. The stock has a market cap of $179.31 billion, a price-to-earnings ratio of 62.15, a price-to-earnings-growth ratio of 3.32 and a beta of 1.25. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Intuit had a return on equity of 18.28% and a net margin of 17.59%. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same period last year, the company earned $1.14 EPS. The company’s quarterly revenue was up 10.2% on a year-over-year basis. As a group, research analysts anticipate that Intuit Inc. will post 14.05 earnings per share for the current year.

About Intuit

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.