Intuit (INTU) : Marvin Palmer Associates Inc scooped up 2,525 additional shares in Intuit during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 10, 2016. The investment management firm now holds a total of 18,650 shares of Intuit which is valued at $2,090,479.Intuit makes up approximately 2.47% of Marvin Palmer Associates Inc’s portfolio.
Other Hedge Funds, Including , Global X Management Co boosted its stake in INTU in the latest quarter, The investment management firm added 977 additional shares and now holds a total of 1,276 shares of Intuit which is valued at $144,379. Intuit makes up approx 0.01% of Global X Management Co’s portfolio.Cobiz Investment Management reduced its stake in INTU by selling 1,298 shares or 2.46% in the most recent quarter. The Hedge Fund company now holds 51,502 shares of INTU which is valued at $5,656,465. Intuit makes up approx 1.38% of Cobiz Investment Management’s portfolio. Herndon Capital Management added INTU to its portfolio by purchasing 24 company shares during the most recent quarter which is valued at $2,664.Tokio Marine Asset Management Co Ltd reduced its stake in INTU by selling 5,632 shares or 8.1% in the most recent quarter. The Hedge Fund company now holds 63,921 shares of INTU which is valued at $7,193,669. Intuit makes up approx 0.72% of Tokio Marine Asset Management Co Ltd’s portfolio.
Intuit opened for trading at $112.59 and hit $113.19 on the upside on Friday, eventually ending the session at $112.8, with a gain of 0.23% or 0.26 points. The heightened volatility saw the trading volume jump to 9,24,483 shares. Company has a market cap of $28,862 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 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 .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 .
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.