S Bank Fund Management Ltd Acquires Shares of 9,595 Intuit Inc. (NASDAQ:INTU)

S Bank Fund Management Ltd acquired a new stake in shares of Intuit Inc. (NASDAQ:INTU) during the 1st quarter, HoldingsChannel.com reports. The fund acquired 9,595 shares of the software maker’s stock, valued at approximately $5,891,000.

Several other large investors have also bought and sold shares of the company. National Pension Service boosted its position in Intuit by 5.1% during the 1st quarter. National Pension Service now owns 591,336 shares of the software maker’s stock valued at $363,074,000 after acquiring an additional 28,753 shares in the last quarter. LGT Group Foundation lifted its holdings in shares of Intuit by 88.1% during the first quarter. LGT Group Foundation now owns 91,301 shares of the software maker’s stock valued at $56,058,000 after purchasing an additional 42,765 shares during the last quarter. LGT Fund Management Co Ltd. lifted its holdings in shares of Intuit by 2.6% during the first quarter. LGT Fund Management Co Ltd. now owns 6,499 shares of the software maker’s stock valued at $3,990,000 after purchasing an additional 162 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Intuit by 4.0% during the first quarter. Russell Investments Group Ltd. now owns 365,081 shares of the software maker’s stock valued at $223,491,000 after purchasing an additional 14,137 shares during the last quarter. Finally, Prudential PLC lifted its holdings in shares of Intuit by 3.4% during the first quarter. Prudential PLC now owns 35,208 shares of the software maker’s stock valued at $21,617,000 after purchasing an additional 1,167 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

INTU has been the subject of several recent research reports. KeyCorp reiterated 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. Oppenheimer lifted their target price on shares of Intuit from $742.00 to $868.00 and gave the company an “outperform” rating in a report on Monday, July 28th. CLSA initiated coverage on shares of Intuit in a report on Thursday, June 26th. They set an “outperform” rating and a $900.00 target price for the company. Stifel Nicolaus lifted their target price on shares of Intuit from $725.00 to $850.00 and gave the company a “buy” rating in a report on Friday, May 23rd. Finally, UBS Group set a $750.00 target price on shares of Intuit and gave the company a “neutral” rating in a report on Friday, May 23rd. One 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 MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $806.27.

Intuit Trading Up 1.0%

NASDAQ:INTU opened at $713.48 on Wednesday. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $813.70. The company has a 50 day simple moving average of $767.07 and a two-hundred day simple moving average of $669.18. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29. The company has a market cap of $199.03 billion, a PE ratio of 57.91, a price-to-earnings-growth ratio of 2.72 and a beta of 1.28.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.89 by $0.76. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The firm had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the previous year, the firm posted $9.88 EPS. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. Research analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 10th were given a dividend of $1.04 per share. 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 0.6%. Intuit’s payout ratio is presently 33.77%.

Insider Activity

In related news, CAO Lauren D. Hotz sold 1,738 shares of the company’s stock in a transaction on Friday, June 27th. The shares were sold at an average price of $784.09, for a total value of $1,362,748.42. Following the completion of the transaction, the chief accounting officer owned 455 shares of the company’s stock, valued at approximately $356,760.95. This represents a 79.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Richard L. Dalzell sold 333 shares of the company’s stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $768.43, for a total transaction of $255,887.19. Following the completion of the transaction, the director directly owned 15,474 shares of the company’s stock, valued at $11,890,685.82. This represents a 2.11% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 279,800 shares of company stock worth $209,725,054. Company insiders own 2.68% of the company’s stock.

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.