Intuit Inc. (NASDAQ:INTU) Shares Acquired by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust lifted its position in shares of Intuit Inc. (NASDAQ:INTU) by 17.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,123 shares of the software maker’s stock after buying an additional 170 shares during the period. Parkside Financial Bank & Trust’s holdings in Intuit were worth $702,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Parnassus Investments LLC increased its holdings in Intuit by 42,268.5% in the 3rd quarter. Parnassus Investments LLC now owns 610,954 shares of the software maker’s stock valued at $312,161,000 after purchasing an additional 609,512 shares in the last quarter. Wellington Management Group LLP increased its holdings in Intuit by 61.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,350,929 shares of the software maker’s stock valued at $690,244,000 after purchasing an additional 514,259 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Intuit by 60,534.9% in the 4th quarter. International Assets Investment Management LLC now owns 472,952 shares of the software maker’s stock valued at $295,609,000 after purchasing an additional 472,172 shares in the last quarter. FMR LLC increased its holdings in Intuit by 5.0% in the 3rd quarter. FMR LLC now owns 5,636,635 shares of the software maker’s stock valued at $2,879,982,000 after purchasing an additional 266,803 shares in the last quarter. Finally, AustralianSuper Pty Ltd increased its holdings in Intuit by 56.2% in the 3rd quarter. AustralianSuper Pty Ltd now owns 617,821 shares of the software maker’s stock valued at $315,669,000 after purchasing an additional 222,317 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on INTU shares. Stifel Nicolaus lifted their target price on Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a research report on Monday. Oppenheimer lifted their target price on Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Wells Fargo & Company lifted their target price on Intuit from $615.00 to $710.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 21st. Finally, Evercore ISI lifted their target price on Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Five investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $645.00.

Insider Activity

In related news, CAO Lauren D. Hotz sold 745 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $655.13, for a total transaction of $488,071.85. Following the sale, the chief accounting officer now owns 3,180 shares of the company’s stock, valued at $2,083,313.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CAO Lauren D. Hotz sold 745 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $655.13, for a total transaction of $488,071.85. Following the sale, the chief accounting officer now owns 3,180 shares of the company’s stock, valued at $2,083,313.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Kerry J. Mclean sold 3,692 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the sale, the executive vice president now directly owns 22,948 shares in the company, valued at approximately $15,233,800.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,717 shares of company stock valued at $3,117,156. Insiders own 2.90% of the company’s stock.

Intuit Stock Performance

INTU stock traded up $21.11 during midday trading on Tuesday, reaching $630.88. The company had a trading volume of 821,180 shares, compared to its average volume of 1,240,110. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. The stock has a 50 day moving average price of $641.98 and a 200 day moving average price of $600.94. Intuit Inc. has a fifty-two week low of $400.22 and a fifty-two week high of $671.01. The firm has a market capitalization of $176.65 billion, a PE ratio of 64.21, a P/E/G ratio of 3.68 and a beta of 1.21.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.33. The company had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.05 earnings per share. Analysts anticipate that Intuit Inc. will post 11.27 earnings per share for the current year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th were issued a dividend of $0.90 per share. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.57%. Intuit’s dividend payout ratio (DPR) is presently 36.73%.

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.