Thematics Asset Management Purchases 1,704 Shares of Intuit Inc. (NASDAQ:INTU)

Thematics Asset Management raised its stake in Intuit Inc. (NASDAQ:INTU – Free Report) by 8.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,897 shares of the software maker’s stock after purchasing an additional 1,704 shares during the period. Thematics Asset Management’s holdings in Intuit were worth $10,033,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of INTU. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in Intuit by 99,673.1% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 157,291,233 shares of the software maker’s stock valued at $72,069,270,000 after purchasing an additional 157,133,584 shares during the period. Norges Bank bought a new stake in Intuit in the 4th quarter valued at $1,173,468,000. Moneta Group Investment Advisors LLC increased its holdings in Intuit by 118,345.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 2,088,194 shares of the software maker’s stock valued at $812,767,000 after buying an additional 2,086,431 shares during the period. Morgan Stanley increased its holdings in Intuit by 42.5% in the 4th quarter. Morgan Stanley now owns 3,444,913 shares of the software maker’s stock valued at $1,340,830,000 after buying an additional 1,027,752 shares during the period. Finally, Clearbridge Investments LLC bought a new stake in Intuit in the 2nd quarter valued at $356,137,000. 82.63% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on INTU shares. Stifel Nicolaus boosted their price target on shares of Intuit from $475.00 to $550.00 and gave the company a “buy” rating in a report on Friday, August 25th. Argus boosted their price target on shares of Intuit from $580.00 to $640.00 and gave the company a “buy” rating in a report on Wednesday, September 6th. Bank of America boosted their price target on shares of Intuit from $530.00 to $580.00 and gave the company a “buy” rating in a report on Friday, August 25th. UBS Group boosted their price target on shares of Intuit from $520.00 to $540.00 and gave the company a “neutral” rating in a report on Friday, August 25th. Finally, Oppenheimer lifted their price objective on Intuit from $530.00 to $610.00 and gave the company an “outperform” rating in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $577.57.

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Intuit Price Performance

Shares of Intuit stock traded up $19.13 during trading on Wednesday, reaching $584.20. The company’s stock had a trading volume of 815,829 shares, compared to its average volume of 1,563,415. The stock has a 50-day moving average price of $524.17 and a two-hundred day moving average price of $495.78. The stock has a market capitalization of $163.54 billion, a P/E ratio of 68.13, a price-to-earnings-growth ratio of 3.40 and a beta of 1.20. Intuit Inc. has a one year low of $370.62 and a one year high of $599.00. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.35.

Intuit (NASDAQ:INTU – Get Free Report) last posted its quarterly earnings results on Tuesday, November 28th. The software maker reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.49. The business had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $2.88 billion. Intuit had a return on equity of 16.61% and a net margin of 16.59%. The firm’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.57 earnings per share. As a group, sell-side analysts anticipate that Intuit Inc. will post 11.25 EPS for the current fiscal year.

Insider Activity at Intuit

In related news, Director Raul Vazquez sold 1,938 shares of the firm’s stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $516.52, for a total value of $1,001,015.76. Following the transaction, the director now owns 1,631 shares in the company, valued at $842,444.12. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Mark P. Notarainni sold 7,274 shares of the company’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $548.30, for a total value of $3,988,334.20. Following the completion of the sale, the executive vice president now owns 869 shares in the company, valued at $476,472.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Raul Vazquez sold 1,938 shares of the company’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $516.52, for a total value of $1,001,015.76. Following the completion of the sale, the director now owns 1,631 shares of the company’s stock, valued at approximately $842,444.12. The disclosure for this sale can be found here. Insiders have sold a total of 23,031 shares of company stock worth $12,508,976 over the last 90 days. Insiders own 2.90% of the company’s stock.

About Intuit

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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.