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 $3,709,221 after selling 1,365 shares in Intuit , the firm said in a disclosure report filed with the SEC on Apr 26, 2016.Intuit makes up approximately 2.85% of Liberty Capital Management’s portfolio.

Intuit opened for trading at $101.4 and hit $102.33 on the upside on Monday, eventually ending the session at $102.21, with a gain of 1.31% or 1.32 points. The heightened volatility saw the trading volume jump to 18,06,726 shares. Company has a market cap of $26,250 M.

Other Hedge Funds, Including , Hl Financial Services added INTU to its portfolio by purchasing 2,028 company shares during the most recent quarter which is valued at $204,605.Davenport Co boosted its stake in INTU in the latest quarter, The investment management firm added 3,690 additional shares and now holds a total of 233,995 shares of Intuit which is valued at $23,607,756. Intuit makes up approx 0.37% of Davenport Co’s portfolio.

On the company’s financial health, Intuit reported $0.25 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Feb 25, 2016. Analyst had a consensus of $0.19. The company had revenue of $923.00 million for the quarter, compared to analysts expectations of $894.55 million. The company’s revenue was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.06 EPS.

Many Wall Street Analysts have commented on Intuit. Credit Suisse Initiated Intuit on Apr 21, 2016 to “Neutral”, Price Target of the shares are set at $100.Brean Capital Initiated Intuit on Apr 14, 2016 to “Buy”, Price Target of the shares are set at $125.Company shares were Reiterated by RBC Capital Mkts on Feb 26, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 93 from a previous price target of $91 .

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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