B. Metzler seel. Sohn & Co. Holding AG Makes New $56.14 Million Investment in Intuit Inc. (NASDAQ:INTU)

B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Intuit Inc. (NASDAQ:INTU) during the 3rd quarter, HoldingsChannel reports. The firm purchased 90,409 shares of the software maker’s stock, valued at approximately $56,144,000.

Several other institutional investors also recently added to or reduced their stakes in the business. LGT Financial Advisors LLC acquired a new stake in shares of Intuit during the 2nd quarter worth approximately $25,000. Cultivar Capital Inc. acquired a new stake in Intuit in the 2nd quarter valued at $26,000. Fairway Wealth LLC acquired a new stake in Intuit in the 2nd quarter valued at $26,000. Northwest Investment Counselors LLC acquired a new stake in Intuit in the 3rd quarter valued at $27,000. Finally, Hobbs Group Advisors LLC acquired a new stake in Intuit in the 2nd quarter valued at $35,000. 83.66% of the stock is owned by institutional investors.

Insider Activity at Intuit

In related news, EVP Laura A. Fennell sold 30,159 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 52,038 shares in the company, valued at approximately $33,427,129.68. This represents a 36.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Eve B. Burton sold 2,988 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $649.87, for a total value of $1,941,811.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,297 shares of company stock worth $35,220,046. 2.90% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently commented on INTU. Scotiabank began coverage on Intuit in a research note on Monday. They issued a “sector perform” rating and a $700.00 price target on the stock. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research note on Monday, September 30th. Jefferies Financial Group boosted their price target on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Piper Sandler reaffirmed an “overweight” rating and issued a $768.00 price target on shares of Intuit in a research note on Friday, September 27th. Finally, Stifel Nicolaus boosted their price objective on Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $737.06.

Intuit Trading Down 1.3 %

INTU stock opened at $678.81 on Tuesday. The company has a market cap of $190.26 billion, a P/E ratio of 64.96, a PEG ratio of 3.36 and a beta of 1.25. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The business has a fifty day moving average of $634.11 and a 200-day moving average of $630.65.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The firm’s revenue was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.40 earnings per share. As a group, equities research analysts expect that Intuit Inc. will post 14.05 EPS for the current year.

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.