Intuit Inc. (NASDAQ:INTU) Shares Sold by Eqis Capital Management Inc.

Intuit Inc. (NASDAQ:INTU) Shares Sold by Eqis Capital Management Inc.

  • August 28, 2020
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Eqis Capital Management Inc. trimmed its position in shares of Intuit Inc. (NASDAQ:INTU) by 24.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 864 shares of the software maker’s stock after selling 273 shares during the period. Eqis Capital Management Inc.’s holdings in Intuit were worth $256,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in INTU. Cresset Asset Management LLC increased its holdings in shares of Intuit by 0.6% in the second quarter. Cresset Asset Management LLC now owns 6,609 shares of the software maker’s stock valued at $1,957,000 after purchasing an additional 39 shares during the last quarter. Laurel Wealth Advisors LLC lifted its position in Intuit by 50.0% during the first quarter. Laurel Wealth Advisors LLC now owns 120 shares of the software maker’s stock worth $28,000 after purchasing an additional 40 shares during the period. Partnervest Advisory Services LLC lifted its position in Intuit by 4.2% during the second quarter. Partnervest Advisory Services LLC now owns 1,055 shares of the software maker’s stock worth $313,000 after purchasing an additional 43 shares during the period. Telemus Capital LLC lifted its holdings in shares of Intuit by 0.7% in the second quarter. Telemus Capital LLC now owns 7,188 shares of the software maker’s stock worth $2,211,000 after acquiring an additional 47 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC lifted its holdings in shares of Intuit by 4.2% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 1,224 shares of the software maker’s stock worth $282,000 after purchasing an additional 49 shares in the last quarter. Institutional investors and hedge funds own 86.12% of the company’s stock.

Shares of NASDAQ INTU opened at $342.34 on Thursday. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.01. The business has a fifty day simple moving average of $304.53 and a two-hundred day simple moving average of $280.51. The firm has a market cap of $87.73 billion, a PE ratio of 50.59, a price-to-earnings-growth ratio of 3.81 and a beta of 1.03. Intuit Inc. has a twelve month low of $187.68 and a twelve month high of $360.00.

Intuit (NASDAQ:INTU) last issued its earnings results on Tuesday, August 25th. The software maker reported $1.81 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.95. The business had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.57 billion. Intuit had a return on equity of 43.50% and a net margin of 23.78%. Intuit’s revenue was up 81.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.09) EPS. On average, research analysts expect that Intuit Inc. will post 6.71 earnings per share for the current year.

A number of equities research analysts have recently commented on INTU shares. Royal Bank of Canada lifted their target price on Intuit from $315.00 to $405.00 and gave the stock an “outperform” rating in a research note on Wednesday. KeyCorp boosted their price objective on Intuit from $315.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday. Morgan Stanley boosted their target price on Intuit from $290.00 to $315.00 and gave the company an “equal weight” rating in a research note on Wednesday. Wells Fargo & Co boosted their target price on Intuit from $345.00 to $380.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Credit Suisse Group boosted their target price on Intuit from $330.00 to $375.00 and gave the company an “outperform” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company’s stock. Intuit has an average rating of “Hold” and an average target price of $348.06.

About Intuit

Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company’s Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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