46,094 Shares in Intuit Inc. (NASDAQ:INTU) Purchased by Randolph Co Inc

Randolph Co Inc acquired a new position in Intuit Inc. (NASDAQ:INTU) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 46,094 shares of the software maker’s stock, valued at approximately $28,301,000. Intuit accounts for approximately 3.3% of Randolph Co Inc’s investment portfolio, making the stock its 13th biggest position.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in INTU. Brighton Jones LLC raised its position in Intuit by 61.3% in the 4th quarter. Brighton Jones LLC now owns 3,552 shares of the software maker’s stock worth $2,233,000 after purchasing an additional 1,350 shares during the period. Union Bancaire Privee UBP SA bought a new position in Intuit in the 4th quarter worth about $104,278,000. Revolve Wealth Partners LLC grew its stake in Intuit by 145.6% in the 4th quarter. Revolve Wealth Partners LLC now owns 813 shares of the software maker’s stock worth $511,000 after acquiring an additional 482 shares in the last quarter. Savant Capital LLC grew its stake in Intuit by 13.4% in the 4th quarter. Savant Capital LLC now owns 3,394 shares of the software maker’s stock worth $2,133,000 after acquiring an additional 401 shares in the last quarter. Finally, Sovran Advisors LLC bought a new position in Intuit in the 4th quarter worth about $250,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Marianna Tessel sold 7,385 shares of Intuit stock in a transaction on Friday, March 21st. The shares were sold at an average price of $600.13, for a total value of $4,431,960.05. Following the completion of the transaction, the executive vice president now owns 40,190 shares of the company’s stock, valued at approximately $24,119,224.70. The trade was a 15.52% decrease in their ownership of the stock. The transaction 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 Intuit stock in a transaction on Tuesday, May 27th. The shares were 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 directly owns 6,063,495 shares of the company’s stock, valued at $4,494,808,208.55. The trade was a 1.18% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 288,408 shares of company stock valued at $213,441,865. Corporate insiders own 2.68% of the company’s stock.

Intuit Trading Up 0.2%

Shares of Intuit stock opened at $766.21 on Friday. 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 firm has a fifty day moving average price of $660.65 and a 200 day moving average price of $629.50. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $773.45. The stock has a market cap of $213.73 billion, a PE ratio of 74.39, a price-to-earnings-growth ratio of 2.85 and a beta of 1.28.

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

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 10th will be issued a $1.04 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.54%. Intuit’s payout ratio is 33.77%.

Wall Street Analyst Weigh In

INTU has been the topic of a number of research analyst reports. Susquehanna restated a “positive” rating on shares of Intuit in a research note on Friday, May 23rd. The Goldman Sachs Group upped their target price on shares of Intuit from $750.00 to $860.00 and gave the stock a “buy” rating in a research note on Monday, May 19th. BMO Capital Markets restated an “outperform” rating and issued a $820.00 target price (up from $714.00) on shares of Intuit in a research note on Friday, May 23rd. Mizuho upped their target price on shares of Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research note on Monday, March 3rd. Finally, Hsbc Global Res upgraded shares of Intuit from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and an average price target of $785.33.

Intuit 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.