TD Asset Management Inc. raised its holdings in Intuit Inc. (NASDAQ:INTU) by 10.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 690,001 shares of the software maker’s stock after purchasing an additional 66,713 shares during the period. TD Asset Management Inc.’s holdings in Intuit were worth $180,373,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in INTU. Oregon Public Employees Retirement Fund lifted its holdings in shares of Intuit by 17,362.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 20,327,715 shares of the software maker’s stock valued at $103,000 after purchasing an additional 20,211,306 shares in the last quarter. Norges Bank purchased a new stake in shares of Intuit in the fourth quarter valued at about $422,227,000. BlackRock Inc. lifted its holdings in shares of Intuit by 7.8% in the fourth quarter. BlackRock Inc. now owns 20,251,688 shares of the software maker’s stock valued at $3,986,545,000 after purchasing an additional 1,457,880 shares in the last quarter. Ellis Investment Partners LLC lifted its holdings in shares of Intuit by 26,041.0% in the first quarter. Ellis Investment Partners LLC now owns 901,864 shares of the software maker’s stock valued at $901,000 after purchasing an additional 898,414 shares in the last quarter. Finally, Sustainable Growth Advisers LP purchased a new stake in shares of Intuit in the fourth quarter valued at about $148,172,000. 87.60% of the stock is currently owned by institutional investors.
In related news, VP Mark J. Flournoy sold 5,939 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $251.18, for a total transaction of $1,491,758.02. Following the completion of the transaction, the vice president now owns 3,626 shares of the company’s stock, valued at $910,778.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Laura A. Fennell sold 67,488 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $251.43, for a total transaction of $16,968,507.84. Following the transaction, the executive vice president now directly owns 95,102 shares of the company’s stock, valued at approximately $23,911,495.86. The disclosure for this sale can be found here. In the last three months, insiders sold 90,609 shares of company stock valued at $22,757,853. Company insiders own 4.60% of the company’s stock.
Shares of NASDAQ:INTU traded down $0.84 during trading on Monday, reaching $244.61. The stock had a trading volume of 19,614 shares, compared to its average volume of 1,519,715. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.32 and a quick ratio of 1.32. The firm has a market cap of $62.47 billion, a PE ratio of 54.05, a P/E/G ratio of 2.86 and a beta of 1.14. Intuit Inc. has a fifty-two week low of $182.61 and a fifty-two week high of $272.14.
Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, February 21st. The software maker reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.44. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.48 billion. Intuit had a net margin of 22.89% and a return on equity of 53.70%. During the same quarter in the previous year, the business posted $0.35 earnings per share. As a group, sell-side analysts expect that Intuit Inc. will post 5.3 earnings per share for the current fiscal year.
Several brokerages have issued reports on INTU. Morgan Stanley reduced their price target on shares of Intuit from $245.00 to $239.00 and set an “equal weight” rating on the stock in a report on Thursday. BidaskClub raised shares of Intuit from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. ValuEngine downgraded shares of Intuit from a “strong-buy” rating to a “buy” rating in a report on Friday, April 26th. KeyCorp reduced their price target on shares of Intuit from $285.00 to $280.00 and set an “overweight” rating on the stock in a report on Friday, April 26th. Finally, Deutsche Bank upped their price target on shares of Intuit from $270.00 to $280.00 and gave the company a “buy” rating in a report on Friday, April 12th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $243.26.
Intuit Company Profile
Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.
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