Jasper Ridge Partners buys $4 Million stake in Intuit (INTU)

Intuit (INTU) : Jasper Ridge Partners scooped up 68 additional shares in Intuit during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 38,780 shares of Intuit which is valued at $4 Million.Intuit makes up approximately 0.27% of Jasper Ridge Partners’s portfolio.

Other Hedge Funds, Including , Bluemountain Capital Management sold out all of its stake in INTU during the most recent quarter. The investment firm sold 2,942 shares of INTU which is valued $300,172. Pathstone Family Office added INTU to its portfolio by purchasing 108 company shares during the most recent quarter which is valued at $11,019.First Trust Advisors Lp boosted its stake in INTU in the latest quarter, The investment management firm added 5,356 additional shares and now holds a total of 237,708 shares of Intuit which is valued at $24.3 Million. Intuit makes up approx 0.08% of First Trust Advisors Lp’s portfolio.Lindsell Train Ltd boosted its stake in INTU in the latest quarter, The investment management firm added 25,500 additional shares and now holds a total of 1,843,200 shares of Intuit which is valued at $186.2 Million. Intuit makes up approx 10.62% of Lindsell Train Ltd’s portfolio.Nippon Life Insurance Co reduced its stake in INTU by selling 673 shares or 3.52% in the most recent quarter. The Hedge Fund company now holds 18,454 shares of INTU which is valued at $1.9 Million. Intuit makes up approx 0.04% of Nippon Life Insurance Co’s portfolio.

Intuit closed down -2.29 points or -2.13% at $105.02 with 47,32,725 shares getting traded on Wednesday. Post opening the session at $103.03, the shares hit an intraday low of $101.81 and an intraday high of $105.95 and the price fluctuated in this range throughout the day.Shares ended Wednesday 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 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.Credit Suisse Initiated Intuit on Apr 21, 2016 to “Neutral”, Price Target of the shares are set at $100.

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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