PDS Planning Inc Grows Holdings in Intuit Inc. (NASDAQ:INTU)

PDS Planning Inc raised its position in Intuit Inc. (NASDAQ:INTUGet Rating) by 34.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 706 shares of the software maker’s stock after purchasing an additional 180 shares during the period. PDS Planning Inc’s holdings in Intuit were worth $272,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Intuit during the 4th quarter worth about $1,492,441,000. BlackRock Inc. raised its holdings in Intuit by 7.1% in the fourth quarter. BlackRock Inc. now owns 25,129,120 shares of the software maker’s stock valued at $16,163,554,000 after buying an additional 1,664,393 shares during the period. Vanguard Group Inc. raised its holdings in Intuit by 6.4% in the first quarter. Vanguard Group Inc. now owns 24,068,193 shares of the software maker’s stock valued at $11,572,950,000 after buying an additional 1,446,489 shares during the period. Sustainable Growth Advisers LP raised its holdings in Intuit by 163.0% in the first quarter. Sustainable Growth Advisers LP now owns 1,621,832 shares of the software maker’s stock valued at $779,842,000 after buying an additional 1,005,234 shares during the period. Finally, Fisher Asset Management LLC raised its holdings in Intuit by 80.0% in the first quarter. Fisher Asset Management LLC now owns 2,165,797 shares of the software maker’s stock valued at $1,041,402,000 after buying an additional 962,524 shares during the period. 83.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

INTU has been the topic of several research reports. KeyCorp raised their price target on shares of Intuit from $475.00 to $525.00 and gave the company an “overweight” rating in a report on Wednesday, August 24th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Intuit from $525.00 to $560.00 in a research report on Wednesday, August 24th. Barclays increased their price objective on shares of Intuit from $580.00 to $585.00 and gave the company an “overweight” rating in a research report on Wednesday, August 24th. Stifel Nicolaus increased their price objective on shares of Intuit from $465.00 to $525.00 and gave the company a “buy” rating in a research report on Thursday, August 18th. Finally, Moffett Nathanson began coverage on shares of Intuit in a research report on Thursday. They set an “outperform” rating and a $500.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat.com, Intuit has an average rating of “Moderate Buy” and a consensus target price of $566.89.

Insider Buying and Selling

In related news, CEO Sasan K. Goodarzi sold 22,250 shares of Intuit stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $463.21, for a total transaction of $10,306,422.50. Following the transaction, the chief executive officer now directly owns 60,208 shares of the company’s stock, valued at $27,888,947.68. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Sasan K. Goodarzi sold 22,250 shares of Intuit stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $463.21, for a total value of $10,306,422.50. Following the transaction, the chief executive officer now owns 60,208 shares of the company’s stock, valued at approximately $27,888,947.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Varun Krishna sold 7,438 shares of Intuit stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $450.80, for a total value of $3,353,050.40. The disclosure for this sale can be found here. Insiders have sold a total of 39,318 shares of company stock valued at $18,027,628 over the last three months. Company insiders own 3.27% of the company’s stock.

Intuit Price Performance

Shares of NASDAQ INTU opened at $396.71 on Friday. Intuit Inc. has a fifty-two week low of $339.36 and a fifty-two week high of $716.86. The firm’s 50-day simple moving average is $442.39 and its 200 day simple moving average is $429.18. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.39. The stock has a market cap of $111.82 billion, a P/E ratio of 54.72, a P/E/G ratio of 2.81 and a beta of 1.19.

Intuit (NASDAQ:INTUGet Rating) last issued its quarterly earnings data on Tuesday, August 23rd. The software maker reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.12. Intuit had a net margin of 16.23% and a return on equity of 16.47%. During the same quarter in the previous year, the company earned $1.28 EPS. Equities analysts expect that Intuit Inc. will post 9.1 EPS for the current year.

Intuit Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 18th. Investors of record on Monday, October 10th will be issued a dividend of $0.78 per share. This is a positive change from Intuit’s previous quarterly dividend of $0.68. This represents a $3.12 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date is Thursday, October 6th. Intuit’s payout ratio is presently 37.52%.

Intuit Profile

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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 ProConnect.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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