Intuit Inc. (NASDAQ:INTU) Shares Sold by ING Groep NV

ING Groep NV trimmed its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 24.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 60,835 shares of the software maker’s stock after selling 19,802 shares during the quarter. ING Groep NV’s holdings in Intuit were worth $37,352,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of INTU. GAMMA Investing LLC boosted its holdings in Intuit by 69,701.9% during the 1st quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker’s stock valued at $17,348,790,000 after acquiring an additional 2,821,534 shares during the period. Nicholas Hoffman & Company LLC. purchased a new position in Intuit during the 1st quarter valued at about $785,564,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Intuit by 33.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,072,021 shares of the software maker’s stock valued at $1,930,765,000 after acquiring an additional 771,232 shares during the period. Unisphere Establishment boosted its holdings in Intuit by 50.0% during the 4th quarter. Unisphere Establishment now owns 1,500,000 shares of the software maker’s stock valued at $942,750,000 after acquiring an additional 500,000 shares during the period. Finally, Northern Trust Corp boosted its holdings in Intuit by 17.3% during the 4th quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker’s stock valued at $2,118,682,000 after acquiring an additional 498,030 shares during the period. 83.66% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Kerry J. Mclean sold 16,700 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $729.16, for a total value of $12,176,972.00. Following the transaction, the executive vice president owned 23,101 shares of the company’s stock, valued at approximately $16,844,325.16. The trade was a 41.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Sandeep Aujla sold 16,061 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $726.13, for a total value of $11,662,373.93. Following the completion of the transaction, the chief financial officer directly owned 197 shares in the company, valued at approximately $143,047.61. The trade was a 98.79% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 279,800 shares of company stock valued at $209,725,054. 2.68% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on INTU shares. KeyCorp restated an “overweight” rating and set a $850.00 target price (up from $770.00) on shares of Intuit in a report on Friday, May 23rd. Hsbc Global Res upgraded Intuit from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 23rd. CLSA started coverage on Intuit in a research note on Thursday, June 26th. They issued an “outperform” rating and a $900.00 price objective for the company. Bank of America lifted their price objective on Intuit from $730.00 to $875.00 and gave the company a “buy” rating in a research note on Friday, May 23rd. Finally, Citigroup reiterated a “buy” rating and issued a $789.00 price objective (up previously from $726.00) on shares of Intuit in a research note on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $806.27.

Intuit Trading Down 1.1%

INTU opened at $776.15 on Monday. The firm has a market cap of $216.51 billion, a price-to-earnings ratio of 63.00, a price-to-earnings-growth ratio of 2.99 and a beta of 1.28. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $813.70. The business’s 50 day moving average is $767.11 and its two-hundred day moving average is $662.40. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29.

Intuit (NASDAQ:INTU) last released its quarterly earnings results 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 company had revenue of $7.75 billion for the quarter, compared to analyst estimates 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 in the previous year, the company posted $9.88 earnings per share. On average, research analysts predict that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 10th were issued a $1.04 dividend. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.5%. Intuit’s payout ratio is presently 33.77%.

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.