Jupiter Asset Management Ltd. Boosts Position in Intuit Inc. (NASDAQ:INTU)

Jupiter Asset Management Ltd. lifted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 19.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 29,270 shares of the software maker’s stock after acquiring an additional 4,858 shares during the period. Jupiter Asset Management Ltd.’s holdings in Intuit were worth $19,026,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Wellington Management Group LLP increased its position in shares of Intuit by 173.0% during the 4th quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock worth $2,304,850,000 after purchasing an additional 2,336,654 shares during the last quarter. Brown Advisory Inc. increased its position in shares of Intuit by 2.3% during the 4th quarter. Brown Advisory Inc. now owns 3,548,119 shares of the software maker’s stock worth $2,217,681,000 after purchasing an additional 80,517 shares during the last quarter. Norges Bank acquired a new stake in shares of Intuit during the 4th quarter worth about $2,101,848,000. Fisher Asset Management LLC increased its position in shares of Intuit by 9.5% during the 4th quarter. Fisher Asset Management LLC now owns 3,114,975 shares of the software maker’s stock worth $1,946,954,000 after purchasing an additional 270,432 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Intuit by 2.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,571,602 shares of the software maker’s stock worth $982,299,000 after purchasing an additional 44,332 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

Shares of NASDAQ:INTU traded down $0.91 during trading on Friday, reaching $636.56. The company had a trading volume of 1,056,569 shares, compared to its average volume of 1,312,862. The stock’s fifty day moving average price is $625.37 and its 200 day moving average price is $631.56. Intuit Inc. has a fifty-two week low of $473.56 and a fifty-two week high of $676.62. The firm has a market capitalization of $177.95 billion, a price-to-earnings ratio of 58.72, a price-to-earnings-growth ratio of 3.64 and a beta of 1.23. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.50 and a quick ratio of 1.50.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, May 23rd. The software maker reported $9.88 earnings per share for the quarter, topping analysts’ consensus estimates of $8.12 by $1.76. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The firm had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.65 billion. During the same quarter in the prior year, the company posted $7.80 earnings per share. Intuit’s quarterly revenue was up 11.9% on a year-over-year basis. As a group, equities research analysts predict that Intuit Inc. will post 11.72 EPS for the current year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 18th. Shareholders of record on Wednesday, July 10th were issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 0.57%. The ex-dividend date was Wednesday, July 10th. Intuit’s dividend payout ratio (DPR) is 33.21%.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Mark P. Notarainni sold 965 shares of the company’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $651.00, for a total value of $628,215.00. Following the sale, the executive vice president now owns 1,020 shares of the company’s stock, valued at $664,020. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Sandeep Aujla sold 1,415 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total value of $855,480.70. Following the sale, the chief financial officer now directly owns 2,332 shares in the company, valued at $1,409,880.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark P. Notarainni sold 965 shares of the company’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $651.00, for a total value of $628,215.00. Following the completion of the sale, the executive vice president now owns 1,020 shares in the company, valued at $664,020. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 195,963 shares of company stock valued at $114,442,445. Insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

INTU has been the subject of a number of recent analyst reports. Royal Bank of Canada initiated coverage on Intuit in a research report on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 price objective for the company. Stifel Nicolaus dropped their target price on Intuit from $720.00 to $690.00 and set a “buy” rating for the company in a research report on Friday, May 24th. Citigroup lifted their target price on Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a research report on Friday, June 28th. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research report on Monday, May 27th. Finally, Morgan Stanley lifted their target price on Intuit from $680.00 to $740.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. Four investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $694.27.

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.