Pittenger & Anderson Inc. Increases Holdings in Intuit Inc. (NASDAQ:INTU)

Pittenger & Anderson Inc. increased its stake in Intuit Inc. (NASDAQ:INTU) by 23.4% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,556 shares of the software maker’s stock after buying an additional 484 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Intuit were worth $1,598,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in INTU. Parnassus Investments LLC lifted its holdings in Intuit by 42,268.5% during the 3rd quarter. Parnassus Investments LLC now owns 610,954 shares of the software maker’s stock worth $312,161,000 after purchasing an additional 609,512 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Intuit by 61.5% in the third quarter. Wellington Management Group LLP now owns 1,350,929 shares of the software maker’s stock worth $690,244,000 after buying an additional 514,259 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Intuit by 60,534.9% during the fourth quarter. International Assets Investment Management LLC now owns 472,952 shares of the software maker’s stock valued at $295,609,000 after buying an additional 472,172 shares during the period. FMR LLC grew its position in Intuit by 5.0% during the third quarter. FMR LLC now owns 5,636,635 shares of the software maker’s stock worth $2,879,982,000 after buying an additional 266,803 shares in the last quarter. Finally, AustralianSuper Pty Ltd increased its stake in Intuit by 56.2% in the 3rd quarter. AustralianSuper Pty Ltd now owns 617,821 shares of the software maker’s stock worth $315,669,000 after acquiring an additional 222,317 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Analyst Ratings Changes

INTU has been the subject of several recent analyst reports. Barclays boosted their price objective on Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Mizuho upped their target price on shares of Intuit from $670.00 to $725.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. KeyCorp lifted their price target on Intuit from $700.00 to $720.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 27th. BMO Capital Markets reiterated an “outperform” rating and set a $700.00 price objective on shares of Intuit in a research report on Tuesday, March 26th. Finally, Oppenheimer boosted their target price on Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Five equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, Intuit has a consensus rating of “Moderate Buy” and an average target price of $650.23.

Insider Buying and Selling at Intuit

In other news, EVP Kerry J. Mclean sold 3,692 shares of the 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 completion of the transaction, the executive vice president now owns 22,948 shares of the company’s stock, valued at approximately $15,233,800.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Intuit 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 owns 3,180 shares in the company, valued at $2,083,313.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction that occurred on Tuesday, February 27th. The shares were 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 owns 22,948 shares of the company’s stock, valued at $15,233,800.32. The disclosure for this sale can be found here. In 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 Trading Down 1.4 %

NASDAQ:INTU traded down $9.10 during mid-day trading on Thursday, reaching $626.39. 1,241,203 shares of the company’s stock traded hands, compared to its average volume of 1,250,536. Intuit Inc. has a 12-month low of $400.22 and a 12-month high of $671.01. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. The company has a 50 day moving average price of $641.40 and a 200-day moving average price of $601.86. The firm has a market capitalization of $175.39 billion, a price-to-earnings ratio of 63.34, a PEG ratio of 3.84 and a beta of 1.21.

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

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th were issued a $0.90 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $3.60 annualized dividend and a yield of 0.57%. Intuit’s dividend payout ratio (DPR) is presently 36.73%.

About Intuit

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.