17 Capital Partners LLC Increases Holdings in Intuit Inc. $INTU

17 Capital Partners LLC grew its position in shares of Intuit Inc. (NASDAQ:INTU) by 27.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 959 shares of the software maker’s stock after buying an additional 205 shares during the quarter. 17 Capital Partners LLC’s holdings in Intuit were worth $755,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of INTU. Invesco Ltd. lifted its position in Intuit by 1.2% during the first quarter. Invesco Ltd. now owns 3,078,686 shares of the software maker’s stock valued at $1,890,282,000 after purchasing an additional 36,513 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of Intuit by 9.0% in the second quarter. Sequoia Financial Advisors LLC now owns 17,279 shares of the software maker’s stock worth $13,609,000 after buying an additional 1,433 shares during the period. MUFG Securities EMEA plc purchased a new position in shares of Intuit during the 2nd quarter valued at about $1,733,000. denkapparat Operations GmbH bought a new position in shares of Intuit during the 2nd quarter valued at approximately $830,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Intuit by 4.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,841,590 shares of the software maker’s stock worth $1,130,718,000 after acquiring an additional 82,419 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intuit

In related news, Director Richard L. Dalzell sold 333 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $661.15, for a total transaction of $220,162.95. Following the sale, the director owned 14,475 shares in the company, valued at approximately $9,570,146.25. This represents a 2.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Sandeep Aujla sold 1,170 shares of the firm’s stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $677.06, for a total value of $792,160.20. Following the completion of the sale, the chief financial officer owned 1,295 shares of the company’s stock, valued at approximately $876,792.70. This represents a 47.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 2,407 shares of company stock worth $1,614,913 over the last ninety days. Company insiders own 2.68% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on INTU shares. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $850.00 price target on shares of Intuit in a report on Tuesday, September 2nd. Barclays lowered their target price on shares of Intuit from $815.00 to $785.00 and set an “overweight” rating on the stock in a research note on Friday, August 22nd. JPMorgan Chase & Co. cut their price target on Intuit from $770.00 to $750.00 and set an “overweight” rating for the company in a research note on Friday, August 22nd. Bank of America decreased their price target on Intuit from $875.00 to $800.00 and set a “buy” rating on the stock in a report on Friday, August 22nd. Finally, Zacks Research downgraded Intuit from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Intuit currently has an average rating of “Moderate Buy” and an average target price of $799.35.

Intuit Stock Performance

Shares of NASDAQ:INTU opened at $650.62 on Thursday. The firm has a fifty day simple moving average of $666.42 and a two-hundred day simple moving average of $707.07. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $813.70. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $181.40 billion, a P/E ratio of 47.35, a PEG ratio of 2.53 and a beta of 1.25.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, August 21st. The software maker reported $2.75 EPS for the quarter, beating analysts’ consensus estimates of $2.66 by $0.09. Intuit had a net margin of 20.55% and a return on equity of 22.72%. The firm had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter last year, the firm earned $1.99 EPS. The firm’s revenue for the quarter was up 20.3% compared to the same quarter last year. On average, analysts expect that Intuit Inc. will post 14.09 earnings per share for the current fiscal 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.