Sand Hill Global Advisors Lowers stake in Intuit (INTU)

Intuit (INTU) : Sand Hill Global Advisors reduced its stake in Intuit by 20.96% during the most recent quarter end. The investment management company now holds a total of 4,284 shares of Intuit which is valued at $480,194 after selling 1,136 shares in Intuit , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Intuit makes up approximately 0.07% of Sand Hill Global Advisors’s portfolio.

Other Hedge Funds, Including , Dynamic Technology Lab Private Ltd added INTU to its portfolio by purchasing 5,814 company shares during the most recent quarter which is valued at $651,691. Intuit makes up approx 0.17% of Dynamic Technology Lab Private Ltd’s portfolio.Finemark National Bank Trust reduced its stake in INTU by selling 800 shares or 22.82% in the most recent quarter. The Hedge Fund company now holds 2,705 shares of INTU which is valued at $306,071. Intuit makes up approx 0.03% of Finemark National Bank Trust’s portfolio.Ngam Advisors reduced its stake in INTU by selling 21,581 shares or 35.65% in the most recent quarter. The Hedge Fund company now holds 38,957 shares of INTU which is valued at $4,278,647. Intuit makes up approx 0.06% of Ngam Advisors’s portfolio.

Intuit opened for trading at $113.25 and hit $114 on the upside on Tuesday, eventually ending the session at $113.84, with a gain of 1.16% or 1.3 points. The heightened volatility saw the trading volume jump to 15,33,836 shares. Company has a market cap of $29,128 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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