Intuit (INTU) : Cobiz Investment Management reduced its stake in Intuit by 2.46% during the most recent quarter end. The investment management company now holds a total of 51,502 shares of Intuit which is valued at $5,656,465 after selling 1,298 shares in Intuit , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Intuit makes up approximately 1.38% of Cobiz Investment Management’s portfolio.
Other Hedge Funds, Including , Evercore Wealth Management reduced its stake in INTU by selling 400 shares or 21.76% in the most recent quarter. The Hedge Fund company now holds 1,438 shares of INTU which is valued at $157,936. Intuit makes up approx 0.01% of Evercore Wealth Management’s portfolio.Concert Wealth Management boosted its stake in INTU in the latest quarter, The investment management firm added 147 additional shares and now holds a total of 2,114 shares of Intuit which is valued at $234,633. Intuit makes up approx 0.03% of Concert Wealth Management’s portfolio.Gavekal Capital boosted its stake in INTU in the latest quarter, The investment management firm added 3,880 additional shares and now holds a total of 70,802 shares of Intuit which is valued at $8,075,676. Intuit makes up approx 2.39% of Gavekal Capital’s portfolio.Davis R M Inc boosted its stake in INTU in the latest quarter, The investment management firm added 29,229 additional shares and now holds a total of 245,628 shares of Intuit which is valued at $28,308,627. Intuit makes up approx 1.36% of Davis R M Inc’s portfolio.
Intuit opened for trading at $110.17 and hit $110.62 on the upside on Thursday, eventually ending the session at $109.9, with a gain of 0.06% or 0.07 points. The heightened volatility saw the trading volume jump to 7,57,244 shares. Company has a market cap of $28,120 M.
On the company’s financial health, Intuit reported $3.43 EPS for the quarter, beating the analyst consensus estimate by $ 0.22 according to the earnings call on May 24, 2016. Analyst had a consensus of $3.21. The company had revenue of $2304.00 million for the quarter, compared to analysts expectations of $2254.62 million. The company’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.85 EPS.
Many Wall Street Analysts have commented on Intuit. Company shares were Downgraded by Barclays on Jul 15, 2016 to ” Equal Weight”, Firm has raised the Price Target to $ 116 from a previous price target of $110 .Company shares were Reiterated by UBS on May 25, 2016 to “Buy”, Firm has raised the Price Target to $ 134 from a previous price target of $125 .Goldman Initiated Intuit on May 23, 2016 to “Buy”, Price Target of the shares are set at $117.
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 Professional Tax. The Company operates in the United States Canada India the United Kingdom Singapore and Australia among others. The Company’s Small Business segment solutions include QuickBooks Online Online Payroll solutions Online Payments solutions and Intuit Developer Group. The Company’s Small Business Desktop Ecosystem solutions include QuickBooks Desktop Payroll Solutions Desktop Payments solutions QuickBooks Technical Support and financial supplies. The Consumer Tax segment offers tax return preparation offerings electronic filing and other services and Intuit Tax Freedom Project. The Company’s professional tax offerings include Lacerte and ProSeries.