Picton Mahoney Asset Management Takes $17.83 Million Position in Intuit Inc. (NASDAQ:INTU)

Picton Mahoney Asset Management acquired a new stake in Intuit Inc. (NASDAQ:INTU) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 29,030 shares of the software maker’s stock, valued at approximately $17,825,000.

Other large investors also recently modified their holdings of the company. Legacy Investment Solutions LLC grew its position in Intuit by 18.0% during the 4th quarter. Legacy Investment Solutions LLC now owns 118 shares of the software maker’s stock worth $68,000 after acquiring an additional 18 shares during the last quarter. Financial Management Professionals Inc. grew its position in Intuit by 18.4% during the 1st quarter. Financial Management Professionals Inc. now owns 116 shares of the software maker’s stock worth $71,000 after acquiring an additional 18 shares during the last quarter. Chris Bulman Inc grew its position in Intuit by 1.2% during the 1st quarter. Chris Bulman Inc now owns 1,523 shares of the software maker’s stock worth $935,000 after acquiring an additional 18 shares during the last quarter. Kolinsky Wealth Management LLC grew its position in Intuit by 1.6% during the 4th quarter. Kolinsky Wealth Management LLC now owns 1,192 shares of the software maker’s stock worth $749,000 after acquiring an additional 19 shares during the last quarter. Finally, Norden Group LLC grew its position in Intuit by 1.2% during the 1st quarter. Norden Group LLC now owns 1,663 shares of the software maker’s stock worth $1,021,000 after acquiring an additional 19 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on INTU shares. Susquehanna restated a “positive” rating on shares of Intuit in a research report on Friday, May 23rd. Evercore ISI upped their price objective on Intuit from $685.00 to $785.00 and gave the stock an “outperform” rating in a report on Friday, May 23rd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $850.00 price objective (up previously from $760.00) on shares of Intuit in a report on Friday, May 23rd. CLSA started coverage on Intuit in a report on Thursday, June 26th. They set an “outperform” rating and a $900.00 price objective on the stock. Finally, Hsbc Global Res raised Intuit from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Intuit has an average rating of “Moderate Buy” and a consensus target price of $806.27.

Intuit Stock Performance

INTU stock opened at $798.73 on Tuesday. The business’s fifty day moving average is $757.95 and its 200-day moving average is $657.44. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29. The company has a market cap of $222.81 billion, a P/E ratio of 64.83, a price-to-earnings-growth ratio of 3.49 and a beta of 1.27. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $800.50.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, topping the consensus estimate of $10.89 by $0.76. The business 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 21.46% and a net margin of 19.07%. The firm’s revenue was up 15.1% compared to the same quarter last year. During the same quarter last year, the business posted $9.88 EPS. Equities research analysts forecast that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 10th were paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.52%. The ex-dividend date was Thursday, July 10th. Intuit’s payout ratio is presently 33.77%.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Mark P. Notarainni sold 1,147 shares of the stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $773.90, for a total transaction of $887,663.30. Following the completion of the transaction, the executive vice president owned 19 shares in the company, valued at approximately $14,704.10. This represents a 98.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard L. Dalzell sold 333 shares of the stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $768.43, for a total value of $255,887.19. Following the transaction, the director owned 15,474 shares of the company’s stock, valued at approximately $11,890,685.82. This trade represents a 2.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 279,800 shares of company stock worth $209,725,054 in the last three months. 2.68% of the stock is owned by insiders.

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.