Prospera Financial Services Inc Grows Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Prospera Financial Services Inc boosted its position in Intuit Inc. (NASDAQ:INTU) by 1.8% in the 3rd quarter, Holdings Channel reports. The fund owned 1,008 shares of the software maker’s stock after purchasing an additional 18 shares during the period. Prospera Financial Services Inc’s holdings in Intuit were worth $626,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of INTU. International Assets Investment Management LLC boosted its holdings in shares of Intuit by 68,404.7% in the 3rd quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock valued at $300,768,000 after purchasing an additional 483,621 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Intuit in the 2nd quarter valued at $184,982,000. Ameriprise Financial Inc. boosted its holdings in shares of Intuit by 17.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock valued at $1,062,578,000 after purchasing an additional 238,486 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in shares of Intuit by 21.3% in the 2nd quarter. Clearbridge Investments LLC now owns 964,328 shares of the software maker’s stock valued at $633,766,000 after purchasing an additional 169,190 shares during the last quarter. Finally, Seven Post Investment Office LP acquired a new position in shares of Intuit in the 2nd quarter valued at $107,513,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Price Performance

INTU opened at $640.12 on Friday. The company has a 50-day moving average of $634.81 and a 200-day moving average of $631.20. The company has a market capitalization of $179.31 billion, a P/E ratio of 62.15, a PEG ratio of 3.32 and a beta of 1.25. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29.

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on INTU shares. Jefferies Financial Group lifted their target price on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday. Stifel Nicolaus reduced their target price on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a report on Friday. StockNews.com lowered shares of Intuit from a “buy” rating to a “hold” rating in a report on Friday. Scotiabank started coverage on shares of Intuit in a report on Monday, November 18th. They set a “sector perform” rating and a $700.00 target price on the stock. Finally, Oppenheimer lifted their target price on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $737.44.

Insider Activity at Intuit

In related news, EVP Laura A. Fennell sold 30,159 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the completion of the sale, the executive vice president now owns 52,038 shares of the company’s stock, valued at $33,427,129.68. This represents a 36.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sandeep Aujla sold 775 shares of the business’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total transaction of $466,015.25. Following the transaction, the chief financial officer now directly owns 4,451 shares of the company’s stock, valued at $2,676,430.81. The trade was a 14.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,297 shares of company stock valued at $35,220,046 in the last quarter. Insiders own 2.90% of the company’s stock.

Intuit Company Profile

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.