Ycg LLC Raises Stock Position in Intuit Inc. (NASDAQ:INTU)

Ycg LLC raised its holdings in Intuit Inc. (NASDAQ:INTU) by 0.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 61,489 shares of the software maker’s stock after acquiring an additional 49 shares during the period. Intuit accounts for 3.3% of Ycg LLC’s holdings, making the stock its 13th biggest holding. Ycg LLC’s holdings in Intuit were worth $40,411,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in INTU. Norges Bank purchased a new stake in Intuit during the fourth quarter worth $2,101,848,000. Wellington Management Group LLP grew its stake in Intuit by 173.0% in the 4th quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock valued at $2,304,850,000 after acquiring an additional 2,336,654 shares during the period. Lone Pine Capital LLC purchased a new stake in Intuit in the 4th quarter worth $467,852,000. Parnassus Investments LLC increased its stake in shares of Intuit by 119.0% during the fourth quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock worth $836,377,000 after purchasing an additional 727,185 shares in the last quarter. Finally, Capital World Investors boosted its holdings in Intuit by 54.7% in the 4th quarter. Capital World Investors now owns 1,176,711 shares of the software maker’s stock worth $735,480,000 after buying an additional 416,099 shares during the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Stock Down 1.0 %

Shares of NASDAQ INTU traded down $6.36 during midday trading on Friday, hitting $615.12. The company’s stock had a trading volume of 999,734 shares, compared to its average volume of 1,330,498. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.50. The firm has a market capitalization 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 1.24. The business’s fifty day simple moving average is $638.42 and its two-hundred day simple moving average is $632.34. Intuit Inc. has a 1 year low of $473.56 and a 1 year high of $676.62.

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

Intuit Increases Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on INTU. BMO Capital Markets lifted their price target on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Erste Group Bank reiterated a “hold” rating on shares of Intuit in a research report on Friday, June 14th. Barclays decreased their target price on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. Bank of America increased their price target on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Finally, StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research note on Saturday, August 31st. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $720.37.

Insider Transactions at Intuit

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

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.