Liberty Capital Management Lowers stake in Intuit (INTU)

Intuit (INTU) : Liberty Capital Management reduced its stake in Intuit by 3.58% during the most recent quarter end. The investment management company now holds a total of 36,765 shares of Intuit which is valued at $4,120,989 after selling 1,365 shares in Intuit , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Intuit makes up approximately 3.00% of Liberty Capital Management’s portfolio.

Other Hedge Funds, Including , Gotham Asset Management added INTU to its portfolio by purchasing 508,586 company shares during the most recent quarter which is valued at $57,007,405. Intuit makes up approx 0.64% of Gotham Asset Management’s portfolio.Jupiter Asset Management Ltd boosted its stake in INTU in the latest quarter, The investment management firm added 8,300 additional shares and now holds a total of 118,500 shares of Intuit which is valued at $13,282,665. Intuit makes up approx 0.53% of Jupiter Asset Management Ltd’s portfolio. Timber Hill sold out all of its stake in INTU during the most recent quarter. The investment firm sold 4,670 shares of INTU which is valued $520,658.Vnbtrust National Association reduced its stake in INTU by selling 200 shares or 6.45% in the most recent quarter. The Hedge Fund company now holds 2,900 shares of INTU which is valued at $326,366. Intuit makes up approx 0.19% of Vnbtrust National Association’s portfolio.

Intuit opened for trading at $111.28 and hit $112.35 on the upside on Thursday, eventually ending the session at $112.34, with a gain of 0.80% or 0.89 points. The heightened volatility saw the trading volume jump to 13,39,907 shares. Company has a market cap of $28,745 M.

On the company’s financial health, Intuit reported $0.08 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Aug 23, 2016. Analyst had a consensus of $-0.02. The company had revenue of $754.00 million for the quarter, compared to analysts expectations of $735.35 million. The company’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.05 EPS.

Many Wall Street Analysts have commented on Intuit. Shares were Reiterated by RBC Capital Mkts on Aug 24, 2016 to “Sector Perform” and Lowered the Price Target to $ 108 from a previous price target of $113 .Company shares were Reiterated by Deutsche Bank on Aug 24, 2016 to “Buy”, Firm has raised the Price Target to $ 130 from a previous price target of $125 .Company shares were Reiterated by RBC Capital Mkts on Aug 15, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 113 from a previous price target of $93 .

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.

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