Quilter Plc Buys 2,035 Shares of Intuit Inc. (NASDAQ:INTU)

Quilter Plc raised its stake in Intuit Inc. (NASDAQ:INTU) by 1.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 152,889 shares of the software maker’s stock after acquiring an additional 2,035 shares during the quarter. Intuit accounts for about 0.1% of Quilter Plc’s holdings, making the stock its 11th largest position. Quilter Plc’s holdings in Intuit were worth $96,017,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. V Square Quantitative Management LLC lifted its holdings in Intuit by 18.8% during the 3rd quarter. V Square Quantitative Management LLC now owns 3,050 shares of the software maker’s stock valued at $1,558,000 after purchasing an additional 482 shares during the last quarter. Maryland State Retirement & Pension System boosted its holdings in shares of Intuit by 1.1% in the 4th quarter. Maryland State Retirement & Pension System now owns 21,268 shares of the software maker’s stock worth $13,293,000 after acquiring an additional 226 shares in the last quarter. Glenmede Trust Co. NA grew its position in Intuit by 12.7% during the 3rd quarter. Glenmede Trust Co. NA now owns 18,397 shares of the software maker’s stock worth $9,400,000 after acquiring an additional 2,074 shares during the last quarter. Hixon Zuercher LLC acquired a new stake in Intuit during the 4th quarter valued at $1,292,000. Finally, Signature Wealth Management Group bought a new position in Intuit in the 4th quarter valued at $1,747,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on INTU. Stifel Nicolaus lowered their target price on Intuit from $720.00 to $690.00 and set a “buy” rating for the company in a research note on Friday. BMO Capital Markets reiterated an “outperform” rating and set a $700.00 target price on shares of Intuit in a research report on Tuesday, March 26th. Mizuho raised their price target on shares of Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a report on Friday, February 23rd. KeyCorp upped their price objective on Intuit from $720.00 to $740.00 and gave the stock an “overweight” rating in a report on Monday, May 20th. Finally, Wells Fargo & Company boosted their target price on Intuit from $725.00 to $750.00 and gave the stock an “overweight” rating in a research report on Tuesday. Five research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $679.41.

Intuit Stock Down 8.3 %

Shares of NASDAQ:INTU traded down $55.27 during mid-day trading on Friday, reaching $606.99. 4,252,637 shares of the stock were exchanged, compared to its average volume of 1,048,470. The stock’s 50 day simple moving average is $634.59 and its 200-day simple moving average is $621.43. Intuit Inc. has a one year low of $400.22 and a one year high of $676.62. The company has a market cap of $169.96 billion, a P/E ratio of 56.00, a P/E/G ratio of 4.03 and a beta of 1.22. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, May 23rd. The software maker reported $8.63 earnings per share for the quarter, beating analysts’ consensus estimates of $8.12 by $0.51. Intuit had a net margin of 19.43% and a return on equity of 19.07%. The business had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $6.65 billion. During the same quarter last year, the firm earned $7.80 earnings per share. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, equities research analysts predict that Intuit Inc. will post 11.28 EPS for the current year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Wednesday, July 10th will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $3.60 dividend on an annualized basis and a yield of 0.59%. Intuit’s payout ratio is 33.21%.

Insiders Place Their Bets

In other news, CAO Lauren D. Hotz sold 745 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $655.13, for a total value of $488,071.85. Following the sale, the chief accounting officer now directly owns 3,180 shares of the company’s stock, valued at approximately $2,083,313.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Kerry J. Mclean sold 3,692 shares of the business’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 transaction of $2,450,897.28. Following the transaction, the executive vice president now directly owns 22,948 shares of the company’s stock, valued at approximately $15,233,800.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Lauren D. Hotz sold 745 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $655.13, for a total transaction of $488,071.85. Following the completion of the transaction, the chief accounting officer now owns 3,180 shares in the company, valued at $2,083,313.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,717 shares of company stock valued at $3,117,156. 2.90% of the stock is currently owned by corporate insiders.

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.