BankPlus Trust Department Buys 2,260 Shares of Intuit Inc. (NASDAQ:INTU)

BankPlus Trust Department raised its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 2,329.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,357 shares of the software maker's stock after buying an additional 2,260 shares during the quarter. BankPlus Trust Department's holdings in Intuit were worth $1,447,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in INTU. Arizona State Retirement System lifted its position in shares of Intuit by 1.0% in the 1st quarter. Arizona State Retirement System now owns 82,056 shares of the software maker's stock worth $50,382,000 after acquiring an additional 833 shares during the period. Kathmere Capital Management LLC boosted its stake in Intuit by 12.3% during the first quarter. Kathmere Capital Management LLC now owns 492 shares of the software maker's stock worth $302,000 after buying an additional 54 shares in the last quarter. Ballentine Partners LLC increased its holdings in Intuit by 20.5% in the 1st quarter. Ballentine Partners LLC now owns 4,436 shares of the software maker's stock valued at $2,724,000 after buying an additional 754 shares during the period. SteelPeak Wealth LLC increased its holdings in Intuit by 26.4% in the 1st quarter. SteelPeak Wealth LLC now owns 29,596 shares of the software maker's stock valued at $18,172,000 after buying an additional 6,188 shares during the period. Finally, Diversify Wealth Management LLC raised its stake in shares of Intuit by 15.8% in the 1st quarter. Diversify Wealth Management LLC now owns 6,866 shares of the software maker's stock valued at $4,279,000 after buying an additional 937 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on INTU shares. Hsbc Global Res raised shares of Intuit from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. Scotiabank upgraded Intuit from a "sector perform" rating to a "sector outperform" rating and upped their price objective for the company from $600.00 to $700.00 in a research note on Thursday, April 17th. HSBC upgraded Intuit from a "hold" rating to a "buy" rating and set a $699.00 target price for the company in a research report on Wednesday, April 23rd. BMO Capital Markets set a $870.00 price target on Intuit and gave the company an "outperform" rating in a research report on Thursday. Finally, Jefferies Financial Group set a $850.00 price objective on Intuit and gave the company a "buy" rating in a report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $800.55.

Intuit Price Performance

INTU stock remained flat at $747.90 during trading on Friday. 1,047,778 shares of the company traded hands, compared to its average volume of 1,621,283. The company has a 50 day simple moving average of $733.03 and a 200-day simple moving average of $646.70. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $790.60. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45. The company has a market cap of $208.63 billion, a PE ratio of 60.71, a price-to-earnings-growth ratio of 3.33 and a beta of 1.27.

Intuit (NASDAQ:INTU - Get Free Report) last released 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 company had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The firm's quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $9.88 earnings per share. Equities analysts expect that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 10th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.56%. Intuit's payout ratio is presently 33.77%.

Insider Buying and Selling

In other Intuit news, EVP Marianna Tessel sold 34,329 shares of Intuit stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $760.84, for a total transaction of $26,118,876.36. Following the completion of the sale, the executive vice president owned 40,767 shares of the company's stock, valued at approximately $31,017,164.28. The trade was a 45.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kerry J. Mclean sold 16,700 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $729.16, for a total transaction of $12,176,972.00. Following the sale, the executive vice president owned 23,101 shares of the company's stock, valued at $16,844,325.16. The trade was a 41.96% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 279,800 shares of company stock worth $209,725,054. 2.68% of the stock is currently owned by company insiders.

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.