Fisher Asset Management LLC Buys 107,482 Shares of Intuit Inc. (NASDAQ:INTU)

Fisher Asset Management LLC grew its stake in Intuit Inc. (NASDAQ:INTU) by 2.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,827,671 shares of the software maker’s stock after purchasing an additional 107,482 shares during the quarter. Intuit makes up approximately 1.0% of Fisher Asset Management LLC’s investment portfolio, making the stock its 29th largest holding. Fisher Asset Management LLC owned approximately 1.37% of Intuit worth $2,376,984,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Daiwa Securities Group Inc. boosted its position in shares of Intuit by 11.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 66,368 shares of the software maker’s stock worth $41,214,000 after acquiring an additional 7,075 shares in the last quarter. Summit Trail Advisors LLC lifted its holdings in shares of Intuit by 4.0% in the third quarter. Summit Trail Advisors LLC now owns 4,175 shares of the software maker’s stock worth $2,593,000 after acquiring an additional 162 shares during the last quarter. Larson Financial Group LLC boosted its stake in shares of Intuit by 38.2% in the 3rd quarter. Larson Financial Group LLC now owns 300 shares of the software maker’s stock valued at $186,000 after purchasing an additional 83 shares in the last quarter. Swedbank AB grew its holdings in shares of Intuit by 3.5% during the 3rd quarter. Swedbank AB now owns 118,266 shares of the software maker’s stock valued at $73,443,000 after purchasing an additional 4,035 shares during the last quarter. Finally, Penserra Capital Management LLC increased its position in Intuit by 1.2% during the 3rd quarter. Penserra Capital Management LLC now owns 2,890 shares of the software maker’s stock worth $1,793,000 after purchasing an additional 34 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Price Performance

INTU stock opened at $640.12 on Monday. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78. The stock has a market capitalization of $179.26 billion, a PE ratio of 62.15, a price-to-earnings-growth ratio of 3.13 and a beta of 1.25. The company’s 50-day moving average is $634.81 and its 200-day moving average is $631.19. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.14. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.14 earnings per share. Equities research analysts expect that Intuit Inc. will post 14.05 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. BMO Capital Markets raised their target price on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a report on Friday. Piper Sandler lowered their target price on Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a report on Friday. Oppenheimer increased their target price on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Royal Bank of Canada restated an “outperform” rating and set a $760.00 price target on shares of Intuit in a report on Friday. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $737.44.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Laura A. Fennell sold 30,159 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $642.36, for a total value of $19,372,935.24. Following the sale, the executive vice president now directly owns 52,038 shares in the company, valued at $33,427,129.68. The trade was a 36.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Sandeep Aujla sold 862 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the transaction, the chief financial officer now 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 disclosure for this sale can be found here. Insiders sold 55,265 shares of company stock worth $35,200,125 in the last quarter. 2.90% of the stock is currently owned by company insiders.

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.