46,094 Shares in Intuit Inc. (NASDAQ:INTU) Bought by Randolph Co Inc

Randolph Co Inc acquired a new position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 46,094 shares of the software maker's stock, valued at approximately $28,301,000. Intuit accounts for approximately 3.3% of Randolph Co Inc's portfolio, making the stock its 13th largest position.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. NewSquare Capital LLC lifted its stake in Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after purchasing an additional 18 shares during the last quarter. Ethos Financial Group LLC raised its stake in Intuit by 3.7% during the fourth quarter. Ethos Financial Group LLC now owns 508 shares of the software maker's stock worth $319,000 after acquiring an additional 18 shares in the last quarter. Legacy Investment Solutions LLC lifted its holdings in shares of Intuit by 18.0% in the fourth quarter. Legacy Investment Solutions LLC now owns 118 shares of the software maker's stock worth $68,000 after acquiring an additional 18 shares during the last quarter. Financial Management Professionals Inc. boosted its stake in shares of Intuit by 18.4% in the 1st quarter. Financial Management Professionals Inc. now owns 116 shares of the software maker's stock valued at $71,000 after purchasing an additional 18 shares in the last quarter. Finally, Chris Bulman Inc grew its holdings in shares of Intuit by 1.2% during the 1st quarter. Chris Bulman Inc now owns 1,523 shares of the software maker's stock valued at $935,000 after purchasing an additional 18 shares during the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Intuit

In other news, EVP Marianna Tessel sold 7,385 shares of the company's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $600.13, for a total transaction of $4,431,960.05. Following the transaction, the executive vice president now owns 40,190 shares in the company, valued at approximately $24,119,224.70. This represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eve B. Burton sold 1,702 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the transaction, the director now directly owns 8 shares in the company, valued at $4,800. This trade represents a 99.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 288,408 shares of company stock worth $213,441,865 in the last 90 days. Corporate insiders own 2.68% of the company's stock.

Intuit Trading Down 1.6%

Intuit stock traded down $12.23 during mid-day trading on Friday, hitting $753.98. 1,148,047 shares of the stock were exchanged, compared to its average volume of 1,611,840. The stock has a market capitalization of $210.32 billion, a price-to-earnings ratio of 73.20, a PEG ratio of 2.85 and a beta of 1.28. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $773.45. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm's fifty day simple moving average is $664.85 and its two-hundred day simple moving average is $630.25.

Intuit (NASDAQ:INTU - Get Free Report) last announced its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping analysts' consensus estimates of $10.89 by $0.76. The business had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. Intuit's quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter last year, the firm earned $9.88 earnings per share. Analysts forecast that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit's dividend payout ratio is 33.77%.

Wall Street Analysts Forecast Growth

INTU has been the topic of a number of research analyst reports. Susquehanna restated a "positive" rating on shares of Intuit in a research report on Friday, May 23rd. Stifel Nicolaus increased their price target on Intuit from $725.00 to $850.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Morgan Stanley restated an "overweight" rating and set a $785.00 price objective (up previously from $720.00) on shares of Intuit in a research report on Friday, May 23rd. Redburn Atlantic initiated coverage on Intuit in a research report on Wednesday, February 19th. They issued a "neutral" rating for the company. Finally, Wells Fargo & Company lifted their price target on Intuit from $825.00 to $880.00 and gave the company an "overweight" rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $787.95.

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.