163,590 Shares in Intuit Inc. (NASDAQ:INTU) Bought by Seven Post Investment Office LP

Seven Post Investment Office LP purchased a new position in shares of Intuit Inc. (NASDAQ:INTU) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 163,590 shares of the software maker’s stock, valued at approximately $107,513,000. Intuit makes up approximately 19.9% of Seven Post Investment Office LP’s holdings, making the stock its 2nd largest holding. Seven Post Investment Office LP owned about 0.06% of Intuit as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Intech Investment Management LLC increased its stake in Intuit by 134.7% in the first quarter. Intech Investment Management LLC now owns 4,601 shares of the software maker’s stock valued at $2,991,000 after acquiring an additional 2,641 shares during the period. Parnassus Investments LLC grew its stake in shares of Intuit by 119.0% in the 4th quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock valued at $836,377,000 after purchasing an additional 727,185 shares during the period. Public Employees Retirement System of Ohio grew its stake in shares of Intuit by 1.1% in the 4th quarter. Public Employees Retirement System of Ohio now owns 179,801 shares of the software maker’s stock valued at $112,381,000 after purchasing an additional 1,990 shares during the period. Wellington Management Group LLP raised its holdings in shares of Intuit by 173.0% in 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 buying an additional 2,336,654 shares in the last quarter. Finally, Cetera Advisors LLC lifted its position in shares of Intuit by 33.4% during the 1st quarter. Cetera Advisors LLC now owns 10,607 shares of the software maker’s stock worth $6,895,000 after buying an additional 2,655 shares during the period. Institutional investors own 83.66% of the company’s stock.

Insider Activity

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $567.75, for a total value of $42,581,250.00. Following the completion of the sale, the insider now directly owns 6,626,721 shares in the company, valued at $3,762,320,847.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Intuit news, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $567.75, for a total value of $42,581,250.00. Following the transaction, the insider now owns 6,626,721 shares of the company’s stock, valued at $3,762,320,847.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kerry J. Mclean sold 11,079 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the completion of the transaction, the executive vice president now owns 24,941 shares of the company’s stock, valued at approximately $15,752,985.01. The disclosure for this sale can be found here. Insiders sold 116,308 shares of company stock valued at $67,651,926 in the last quarter. Company insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. BMO Capital Markets upped their price target on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. JPMorgan Chase & Co. upped their target price on shares of Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Citigroup lifted their price target on shares of Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a report on Friday, June 28th. UBS Group upped their price objective on shares of Intuit from $625.00 to $670.00 and gave the stock a “neutral” rating in a research note on Monday, May 20th. Finally, Royal Bank of Canada began coverage on shares of Intuit in a report on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 price objective for the company. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and an average target price of $720.37.

Intuit Trading Down 1.0 %

INTU opened at $615.12 on Friday. The firm has a 50 day simple moving average of $638.42 and a 200 day simple moving average of $632.43. Intuit Inc. has a fifty-two week low of $473.56 and a fifty-two week high of $676.62. The company has a market cap of $171.95 billion, a price-to-earnings ratio of 56.75, a price-to-earnings-growth ratio of 3.08 and a beta of 1.23. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.50.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. The firm had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The company’s revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.40 earnings per share. On average, sell-side analysts anticipate that Intuit Inc. will post 14.06 earnings per share for the current year.

Intuit Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. This is a boost from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Thursday, October 10th. Intuit’s dividend payout ratio (DPR) is currently 38.38%.

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.