Vise Technologies Inc. Grows Position in Intuit Inc. (NASDAQ:INTU)

Vise Technologies Inc. grew its stake in shares of Intuit Inc. (NASDAQ:INTU) by 34.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,356 shares of the software maker’s stock after purchasing an additional 1,109 shares during the quarter. Vise Technologies Inc.’s holdings in Intuit were worth $2,738,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in INTU. Norges Bank purchased a new stake in shares of Intuit during the fourth quarter valued at approximately $2,290,419,000. Proficio Capital Partners LLC boosted its stake in shares of Intuit by 112,233.1% during the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock valued at $668,595,000 after purchasing an additional 1,062,847 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Intuit by 33.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,072,021 shares of the software maker’s stock valued at $1,930,765,000 after purchasing an additional 771,232 shares during the period. Wellington Management Group LLP lifted its stake in Intuit by 13.3% in the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock worth $3,329,115,000 after acquiring an additional 620,559 shares during the period. Finally, Unisphere Establishment lifted its stake in Intuit by 50.0% in the fourth quarter. Unisphere Establishment now owns 1,500,000 shares of the software maker’s stock worth $942,750,000 after acquiring an additional 500,000 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Transactions at Intuit

In other news, EVP Laura A. Fennell sold 8,163 shares of Intuit stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $612.46, for a total value of $4,999,510.98. Following the completion of the transaction, the executive vice president now owns 21,882 shares of the company’s stock, valued at $13,401,849.72. The trade was a 27.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eve B. Burton sold 1,702 shares of Intuit stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the completion of the transaction, the director now directly owns 8 shares of the company’s stock, valued at approximately $4,800. This represents a 99.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,696 shares of company stock valued at $14,347,731 in the last quarter. 2.68% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

INTU has been the subject of a number of research analyst reports. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Intuit in a research note on Monday. BMO Capital Markets dropped their price target on Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Citigroup dropped their price target on Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Piper Sandler reaffirmed an “overweight” rating and issued a $785.00 price target (up previously from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. Finally, UBS Group raised their price target on Intuit from $655.00 to $720.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Intuit has an average rating of “Moderate Buy” and a consensus price target of $717.24.

Intuit Price Performance

INTU opened at $666.07 on Friday. The stock has a 50-day moving average price of $614.34 and a 200-day moving average price of $620.51. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market cap of $186.21 billion, a PE ratio of 64.67, a P/E/G ratio of 2.85 and a beta of 1.24. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $720.76.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.89 by $0.76. The firm had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.56 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. Intuit’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $9.88 EPS. Sell-side analysts predict that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit 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.