First Western Capital Management Co Lowers stake in Intuit (INTU)

Intuit (INTU) : First Western Capital Management Co reduced its stake in Intuit by 0.82% during the most recent quarter end. The investment management company now holds a total of 55,965 shares of Intuit which is valued at $6,487,463 after selling 463 shares in Intuit , the firm said in a disclosure report filed with the SEC on Jul 12, 2016.Intuit makes up approximately 2.31% of First Western Capital Management Co’s portfolio.

Other Hedge Funds, Including , Gulf International Bank (uk) Ltd reduced its stake in INTU by selling 3,690 shares or 4.76% in the most recent quarter. The Hedge Fund company now holds 73,905 shares of INTU which is valued at $8,567,068. Intuit makes up approx 0.14% of Gulf International Bank (uk) Ltd’s portfolio.Forte Capital Adv boosted its stake in INTU in the latest quarter, The investment management firm added 1,720 additional shares and now holds a total of 25,159 shares of Intuit which is valued at $2,916,431. Intuit makes up approx 1.10% of Forte Capital Adv’s portfolio.Stock Yards Bank Trust Co reduced its stake in INTU by selling 1,574 shares or 29.2% in the most recent quarter. The Hedge Fund company now holds 3,817 shares of INTU which is valued at $430,329. Intuit makes up approx 0.06% of Stock Yards Bank Trust Co’s portfolio.

Intuit closed down -1.41 points or -1.21% at $114.98 with 21,58,381 shares getting traded on Friday. Post opening the session at $116.58, the shares hit an intraday low of $114.46 and an intraday high of $116.58 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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 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 .Goldman Initiated Intuit on May 23, 2016 to “Buy”, Price Target of the shares are set at $117.

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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