Wendell David Associates Inc Lowers stake in Intuit (INTU)

Intuit (INTU) : Wendell David Associates Inc reduced its stake in Intuit by 4.14% during the most recent quarter end. The investment management company now holds a total of 56,401 shares of Intuit which is valued at $6,474,271 after selling 2,438 shares in Intuit , the firm said in a disclosure report filed with the SEC on Jul 18, 2016.Intuit makes up approximately 1.24% of Wendell David Associates Inc’s portfolio.

Other Hedge Funds, Including , Americafirst Capital Management sold out all of its stake in INTU during the most recent quarter. The investment firm sold 3,894 shares of INTU which is valued $446,992. Cape Cod Five Cents Savings Bank added INTU to its portfolio by purchasing 1,895 company shares during the most recent quarter which is valued at $217,887. Intuit makes up approx 0.04% of Cape Cod Five Cents Savings Bank’s portfolio.

Intuit opened for trading at $112.78 and hit $115.29 on the upside on Wednesday, eventually ending the session at $114.79, with a gain of 0.01% or 0.01 points. The heightened volatility saw the trading volume jump to 15,55,125 shares. Company has a market cap of $29,371 M.

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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