UBS Asset Management Americas Inc. increased its position in Intuit Inc. (NASDAQ:INTU) by 20.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,066,912 shares of the software maker’s stock after acquiring an additional 179,894 shares during the period. UBS Asset Management Americas Inc.’s holdings in Intuit were worth $168,337,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Exane Derivatives acquired a new stake in shares of Intuit in the 3rd quarter worth approximately $105,000. Horan Capital Advisors LLC. acquired a new stake in shares of Intuit in the 3rd quarter worth approximately $114,000. Highstreet Asset Management Inc. acquired a new stake in shares of Intuit in the 3rd quarter worth approximately $159,000. SeaCrest Wealth Management LLC acquired a new stake in shares of Intuit in the 4th quarter worth approximately $170,000. Finally, Americafirst Capital Management LLC acquired a new stake in shares of Intuit in the 3rd quarter worth approximately $184,000. Institutional investors and hedge funds own 86.76% of the company’s stock.
A number of equities research analysts recently weighed in on the company. Morgan Stanley upped their price target on Intuit from $110.00 to $120.00 and gave the stock an “underweight” rating in a report on Tuesday, November 21st. Oppenheimer restated a “buy” rating and issued a $166.00 price target (up previously from $159.00) on shares of Intuit in a report on Tuesday, November 21st. Barclays upped their price target on Intuit from $157.00 to $168.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 13th. Jefferies Group restated a “buy” rating and issued a $185.00 price target on shares of Intuit in a report on Tuesday, November 21st. Finally, Zacks Investment Research cut Intuit from a “buy” rating to a “hold” rating in a report on Tuesday, October 24th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the company. Intuit currently has a consensus rating of “Hold” and a consensus target price of $159.42.
In other Intuit news, Chairman Scott D. Cook sold 112,731 shares of the stock in a transaction on Monday, December 18th. The stock was sold at an average price of $160.97, for a total transaction of $18,146,309.07. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Scott D. Cook sold 183,334 shares of the stock in a transaction on Friday, November 24th. The shares were sold at an average price of $151.46, for a total value of $27,767,767.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 965,938 shares of company stock worth $149,469,127. 5.59% of the stock is owned by insiders.
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Intuit Inc is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. The Company operates through three segments: Small Business, Consumer Tax and ProConnect. The Small Business segment serves and advises small businesses and the accounting professionals, and includes QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions.
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