NorthCrest Asset Manangement LLC Increases Stock Holdings in Intuit Inc. (NASDAQ:INTU)

NorthCrest Asset Manangement LLC boosted its holdings in Intuit Inc. (NASDAQ:INTU) by 1.0% during the first quarter, Holdings Channel reports. The fund owned 70,416 shares of the software maker’s stock after purchasing an additional 730 shares during the period. Intuit makes up 1.3% of NorthCrest Asset Manangement LLC’s holdings, making the stock its 10th largest holding. NorthCrest Asset Manangement LLC’s holdings in Intuit were worth $43,235,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Liberty Capital Management Inc. grew its holdings in Intuit by 0.3% in the 1st quarter. Liberty Capital Management Inc. now owns 21,060 shares of the software maker’s stock valued at $12,931,000 after buying an additional 58 shares in the last quarter. RFG Holdings Inc. boosted its stake in Intuit by 12.0% in the first quarter. RFG Holdings Inc. now owns 1,365 shares of the software maker’s stock valued at $840,000 after buying an additional 146 shares in the last quarter. Legacy Trust boosted its stake in Intuit by 2.1% in the first quarter. Legacy Trust now owns 1,713 shares of the software maker’s stock valued at $1,052,000 after buying an additional 36 shares in the last quarter. Rockland Trust Co. boosted its stake in Intuit by 4.6% in the first quarter. Rockland Trust Co. now owns 37,984 shares of the software maker’s stock valued at $23,322,000 after buying an additional 1,661 shares in the last quarter. Finally, Mogy Joel R Investment Counsel Inc. raised its position in Intuit by 1.6% in the first quarter. Mogy Joel R Investment Counsel Inc. now owns 73,109 shares of the software maker’s stock valued at $44,888,000 after purchasing an additional 1,123 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Insiders Place Their Bets

In related news, Director Eve B. Burton sold 1,702 shares of the business’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $600.00, for a total value of $1,021,200.00. Following the sale, the director now directly owns 8 shares in the company, valued at approximately $4,800. The trade was a 99.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Scott D. Cook sold 72,442 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $741.29, for a total transaction of $53,700,530.18. Following the completion of the transaction, the insider now owns 6,063,495 shares in the company, valued at approximately $4,494,808,208.55. This represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 288,408 shares of company stock worth $213,441,865. Corporate insiders own 2.68% of the company’s stock.

Intuit Stock Performance

Shares of INTU stock opened at $766.21 on Friday. The firm has a market capitalization of $213.73 billion, a price-to-earnings ratio of 74.39, a price-to-earnings-growth ratio of 2.85 and a beta of 1.28. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The business has a fifty day moving average of $660.65 and a 200 day moving average of $629.50. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $773.45.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping the consensus estimate of $10.89 by $0.76. The company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period last year, the firm earned $9.88 EPS. As a group, research analysts expect that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit’s dividend payout ratio (DPR) is presently 33.77%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on INTU. Hsbc Global Res upgraded Intuit from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 23rd. Susquehanna reiterated a “positive” rating on shares of Intuit in a report on Friday, May 23rd. Wall Street Zen raised Intuit from a “hold” rating to a “buy” rating in a research note on Tuesday, April 29th. Bank of America lifted their target price on Intuit from $730.00 to $875.00 and gave the company a “buy” rating in a research report on Friday, May 23rd. Finally, Barclays reiterated an “overweight” rating and set a $815.00 price target (up from $775.00) on shares of Intuit in a report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $785.33.

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.