Everence Capital Management Inc. Has $5.52 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Everence Capital Management Inc. increased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 44.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 8,830 shares of the software maker’s stock after purchasing an additional 2,700 shares during the quarter. Everence Capital Management Inc.’s holdings in Intuit were worth $5,519,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its stake in Intuit by 0.5% in the third quarter. Vanguard Group Inc. now owns 25,331,318 shares of the software maker’s stock valued at $12,942,784,000 after purchasing an additional 117,478 shares in the last quarter. State Street Corp grew its stake in Intuit by 1.9% in the first quarter. State Street Corp now owns 11,099,653 shares of the software maker’s stock valued at $4,948,558,000 after purchasing an additional 210,246 shares in the last quarter. FMR LLC grew its stake in Intuit by 5.0% in the third quarter. FMR LLC now owns 5,636,635 shares of the software maker’s stock valued at $2,879,982,000 after purchasing an additional 266,803 shares in the last quarter. Morgan Stanley grew its stake in Intuit by 3.7% in the third quarter. Morgan Stanley now owns 3,848,401 shares of the software maker’s stock valued at $1,966,304,000 after purchasing an additional 137,198 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Intuit by 5.2% in the third quarter. Northern Trust Corp now owns 3,212,771 shares of the software maker’s stock valued at $1,641,533,000 after purchasing an additional 160,229 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on INTU. Barclays boosted their target price on Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $700.00 price target on shares of Intuit in a research report on Tuesday, March 26th. Susquehanna boosted their price target on Intuit from $700.00 to $775.00 and gave the stock a “positive” rating in a research report on Friday, February 23rd. Stifel Nicolaus boosted their price target on Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Finally, Wells Fargo & Company boosted their price target on Intuit from $615.00 to $710.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 21st. Four research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $645.00.

Intuit Stock Performance

Intuit stock traded down $0.63 during trading hours on Tuesday, hitting $611.49. The stock had a trading volume of 1,098,944 shares, compared to its average volume of 1,243,843. The company has a 50-day moving average of $645.96 and a two-hundred day moving average of $597.57. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. The company has a market cap of $171.22 billion, a PE ratio of 62.54, a price-to-earnings-growth ratio of 3.78 and a beta of 1.21. Intuit Inc. has a fifty-two week low of $400.22 and a fifty-two week high of $671.01.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, beating the consensus estimate of $2.30 by $0.33. The firm had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.05 EPS. On average, equities research analysts anticipate that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $3.60 annualized dividend and a yield of 0.59%. Intuit’s dividend payout ratio (DPR) is 36.73%.

Insider Activity

In other news, EVP Kerry J. Mclean sold 3,692 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the sale, the executive vice president now directly owns 22,948 shares in the company, valued at approximately $15,233,800.32. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Alex G. Balazs sold 280 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total value of $2,450,897.28. Following the completion of the transaction, the executive vice president now owns 22,948 shares in the company, valued at $15,233,800.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,717 shares of company stock worth $3,117,156. Company insiders own 2.90% of the company’s stock.

Intuit Company Profile

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.