Investec Asset Management (pty) Ltd buys $246,811 stake in Intuit (INTU)

Intuit (INTU) : Investec Asset Management (pty) Ltd scooped up 705 additional shares in Intuit during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 2,419 shares of Intuit which is valued at $246,811.Intuit makes up approximately 0.23% of Investec Asset Management (pty) Ltd’s portfolio.

Other Hedge Funds, Including , Baird Financial Group boosted its stake in INTU in the latest quarter, The investment management firm added 262 additional shares and now holds a total of 23,384 shares of Intuit which is valued at $2.4 Million. Intuit makes up approx 0.02% of Baird Financial Group’s portfolio.United Capital Financial Advisers boosted its stake in INTU in the latest quarter, The investment management firm added 165 additional shares and now holds a total of 11,006 shares of Intuit which is valued at $1.1 Million. Intuit makes up approx 0.01% of United Capital Financial Advisers’s portfolio.Cornerstone Capital Management Holdings. reduced its stake in INTU by selling 113,997 shares or 58.57% in the most recent quarter. The Hedge Fund company now holds 80,632 shares of INTU which is valued at $8.2 Million. Intuit makes up approx 0.07% of Cornerstone Capital Management Holdings.’s portfolio.Ls Investment Advisors reduced its stake in INTU by selling 345 shares or 4.42% in the most recent quarter. The Hedge Fund company now holds 7,467 shares of INTU which is valued at $761,858. Intuit makes up approx 0.06% of Ls Investment Advisors’s portfolio.Jacobson Schmitt Advisors boosted its stake in INTU in the latest quarter, The investment management firm added 841 additional shares and now holds a total of 31,509 shares of Intuit which is valued at $3.2 Million. Intuit makes up approx 2.80% of Jacobson Schmitt Advisors’s portfolio.

Intuit opened for trading at $101.89 and hit $103.58 on the upside on Friday, eventually ending the session at $103.03, with a gain of 1.59% or 1.61 points. The heightened volatility saw the trading volume jump to 11,70,550 shares. Company has a market cap of $26,460,268 M.

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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