Intuit Inc. (NASDAQ:INTU) Stake Raised by Ethic Inc.

Ethic Inc. increased its holdings in Intuit Inc. (NASDAQ:INTU) by 8.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,227 shares of the software maker’s stock after acquiring an additional 2,223 shares during the period. Ethic Inc.’s holdings in Intuit were worth $17,939,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of INTU. Vanguard Group Inc. raised its stake in shares of Intuit by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 27,330,309 shares of the software maker’s stock worth $16,780,536,000 after purchasing an additional 294,993 shares in the last quarter. Brown Advisory Inc. raised its stake in shares of Intuit by 7.9% during the 1st quarter. Brown Advisory Inc. now owns 3,444,600 shares of the software maker’s stock worth $2,114,950,000 after purchasing an additional 252,265 shares in the last quarter. Northern Trust Corp raised its stake in shares of Intuit by 17.3% during the 4th quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker’s stock worth $2,118,682,000 after purchasing an additional 498,030 shares in the last quarter. Invesco Ltd. raised its stake in shares of Intuit by 1.2% during the 1st quarter. Invesco Ltd. now owns 3,078,686 shares of the software maker’s stock worth $1,890,282,000 after purchasing an additional 36,513 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of 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 worth $1,930,765,000 after purchasing an additional 771,232 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $710.64 on Friday. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $813.70. The firm has a market capitalization of $198.23 billion, a PE ratio of 57.68, a PEG ratio of 2.74 and a beta of 1.28. The business’s 50 day moving average is $764.85 and its 200-day moving average is $670.19. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29.

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

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 10th were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Thursday, July 10th. Intuit’s dividend payout ratio (DPR) is 33.77%.

Analyst Upgrades and Downgrades

INTU has been the subject of a number of recent research reports. BMO Capital Markets raised their price target on Intuit from $820.00 to $870.00 and gave the stock an “outperform” rating in a research note on Thursday, July 10th. KeyCorp reissued an “overweight” rating and set a $850.00 price objective (up previously from $770.00) on shares of Intuit in a report on Friday, May 23rd. Hsbc Global Res raised Intuit from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 23rd. Wells Fargo & Company set a $880.00 price objective on Intuit and gave the company an “overweight” rating in a report on Friday, June 13th. Finally, Morgan Stanley increased their price objective on Intuit from $785.00 to $900.00 and gave the company an “overweight” rating in a report on Monday, July 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $806.27.

Insider Buying and Selling at Intuit

In related news, EVP Marianna Tessel sold 34,329 shares of the firm’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $760.84, for a total transaction of $26,118,876.36. Following the completion of the transaction, the executive vice president owned 40,767 shares in the company, valued at $31,017,164.28. This trade represents a 45.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kerry J. Mclean sold 16,700 shares of the firm’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 $16,844,325.16. This trade represents a 41.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 279,800 shares of company stock worth $209,725,054 over the last three months. 2.68% of the stock is currently owned by insiders.

Intuit Company 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.