Fosun International Ltd Raises Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Fosun International Ltd raised its position in Intuit Inc. (NASDAQ:INTU) by 9.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,350 shares of the software maker’s stock after acquiring an additional 459 shares during the quarter. Fosun International Ltd’s holdings in Intuit were worth $1,274,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Intuit during the fourth quarter worth about $610,762,000. Private Advisor Group LLC grew its position in shares of Intuit by 100.8% during the fourth quarter. Private Advisor Group LLC now owns 11,928 shares of the software maker’s stock worth $3,124,000 after buying an additional 1,451,166 shares in the last quarter. Sands Capital Management LLC grew its position in shares of Intuit by 53.3% during the fourth quarter. Sands Capital Management LLC now owns 3,400,292 shares of the software maker’s stock worth $890,638,000 after buying an additional 1,181,976 shares in the last quarter. Findlay Park Partners LLP grew its position in shares of Intuit by 253.5% during the fourth quarter. Findlay Park Partners LLP now owns 1,406,788 shares of the software maker’s stock worth $368,480,000 after buying an additional 1,008,788 shares in the last quarter. Finally, Edgewood Management LLC grew its position in shares of Intuit by 21.2% during the fourth quarter. Edgewood Management LLC now owns 4,914,250 shares of the software maker’s stock worth $1,287,190,000 after buying an additional 860,132 shares in the last quarter. 86.39% of the stock is owned by institutional investors.

Shares of NASDAQ INTU traded down $1.80 during mid-day trading on Friday, hitting $288.20. The company had a trading volume of 1,052,378 shares, compared to its average volume of 1,092,816. Intuit Inc. has a one year low of $187.68 and a one year high of $306.89. The company has a market capitalization of $75.67 billion, a PE ratio of 46.42, a price-to-earnings-growth ratio of 3.90 and a beta of 1.05. The firm has a 50-day simple moving average of $261.78 and a two-hundred day simple moving average of $266.07. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.10.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, May 21st. The software maker reported $4.49 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $4.60 by ($0.11). Intuit had a net margin of 22.89% and a return on equity of 41.03%. The firm had revenue of $3 billion during the quarter, compared to analyst estimates of $3 billion. During the same quarter last year, the business posted $5.55 earnings per share. The company’s revenue for the quarter was down 8.3% on a year-over-year basis. Sell-side analysts expect that Intuit Inc. will post 5.85 earnings per share for the current fiscal year.

A number of equities analysts recently issued reports on INTU shares. UBS Group upped their price target on Intuit from $285.00 to $303.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. JPMorgan Chase & Co. dropped their price objective on Intuit from $268.00 to $249.00 and set an “underweight” rating on the stock in a report on Thursday, March 26th. Mizuho upped their target price on Intuit from $280.00 to $330.00 and gave the company a “buy” rating in a report on Friday. Stifel Nicolaus reduced their target price on Intuit from $315.00 to $300.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Finally, Wells Fargo & Co raised their target price on Intuit from $310.00 to $330.00 and gave the company an “overweight” rating in a report on Friday. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $306.00.

Intuit Company Profile

Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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