Mizuho Securities USA LLC Cuts Stock Position in Intuit Inc. (NASDAQ:INTU)

by · The Markets Daily

Mizuho Securities USA LLC cut its position in Intuit Inc. (NASDAQ:INTU – Free Report) by 16.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,127 shares of the software maker’s stock after selling 3,460 shares during the period. Mizuho Securities USA LLC’s holdings in Intuit were worth $11,257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in INTU. MQS Management LLC acquired a new position in Intuit during the first quarter worth $294,000. EntryPoint Capital LLC acquired a new position in shares of Intuit in the 1st quarter valued at $60,000. EP Wealth Advisors LLC lifted its stake in shares of Intuit by 10.9% in the 1st quarter. EP Wealth Advisors LLC now owns 5,863 shares of the software maker’s stock valued at $3,811,000 after purchasing an additional 576 shares during the last quarter. Capital World Investors lifted its stake in shares of Intuit by 1.0% in the 1st quarter. Capital World Investors now owns 1,188,779 shares of the software maker’s stock valued at $772,706,000 after purchasing an additional 12,068 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Intuit by 2.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 139,026 shares of the software maker’s stock valued at $90,367,000 after purchasing an additional 3,486 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Activity at Intuit

In other news, CFO Sandeep Aujla sold 862 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total transaction of $535,327.86. Following the sale, the chief financial officer now owns 3,840 shares in the company, valued at $2,384,755.20. This trade represents a 18.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Scott D. Cook sold 2,461 shares of the firm’s stock in a transaction 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 sale, the insider now owns 6,453,105 shares in the company, valued at $4,111,853,974.95. This trade represents a 0.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,297 shares of company stock valued at $35,220,046 in the last ninety days. Corporate insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

INTU has been the topic of several recent analyst reports. JPMorgan Chase & Co. upped their price target on Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Bank of America upped their price target on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Barclays increased their price objective on Intuit from $740.00 to $800.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Jefferies Financial Group upped their target price on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Finally, BMO Capital Markets upped their target price on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Intuit has a consensus rating of “Moderate Buy” and a consensus price target of $737.06.

Check Out Our Latest Stock Analysis on Intuit

Intuit Stock Performance

NASDAQ INTU opened at $650.60 on Thursday. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78. The company has a market capitalization of $182.25 billion, a P/E ratio of 62.26, a PEG ratio of 3.15 and a beta of 1.25. The business has a 50 day moving average price of $634.46 and a 200 day moving average price of $630.89. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29.

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

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.

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