Davis R M Inc. Has $86.49 Million Position in Intuit Inc. (NASDAQ:INTU)

Davis R M Inc. lessened its position in shares of Intuit Inc. (NASDAQ:INTU) by 1.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 139,271 shares of the software maker’s stock after selling 1,814 shares during the quarter. Intuit makes up approximately 1.7% of Davis R M Inc.’s investment portfolio, making the stock its 14th largest holding. Davis R M Inc.’s holdings in Intuit were worth $86,487,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. LGT Financial Advisors LLC acquired a new stake in Intuit during the 2nd quarter valued at approximately $25,000. Cultivar Capital Inc. acquired a new stake in Intuit during the 2nd quarter valued at approximately $26,000. Fairway Wealth LLC acquired a new stake in Intuit during the 2nd quarter valued at approximately $26,000. Northwest Investment Counselors LLC acquired a new stake in Intuit during the 3rd quarter valued at approximately $27,000. Finally, Hobbs Group Advisors LLC acquired a new stake in Intuit during the 2nd quarter valued at approximately $35,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Stifel Nicolaus reduced their price objective on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research report on Friday. Susquehanna reiterated a “positive” rating and issued a $757.00 target price on shares of Intuit in a report on Friday, August 16th. Jefferies Financial Group increased their target price on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday. Bank of America increased their target price on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, Scotiabank started coverage on Intuit in a research note on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective on the stock. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $737.44.

Insider Buying and Selling

In other Intuit news, CFO Sandeep Aujla sold 775 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total value of $466,015.25. Following the completion of the sale, the chief financial officer now owns 4,451 shares of the company’s stock, valued at $2,676,430.81. This represents a 14.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott D. Cook sold 2,461 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total value of $1,568,124.59. Following the completion of the sale, the insider now directly owns 6,453,105 shares of the company’s stock, valued at approximately $4,111,853,974.95. This represents a 0.04 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,265 shares of company stock worth $35,200,125. Insiders own 2.90% of the company’s stock.

Intuit Trading Down 5.7 %

Shares of INTU opened at $640.12 on Monday. The business’s 50-day moving average price is $634.81 and its 200-day moving average price is $631.19. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78. The stock has a market cap of $179.26 billion, a PE ratio of 62.15, a P/E/G ratio of 3.13 and a beta of 1.25. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

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

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.