Bessemer Group Inc. Reduces Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Bessemer Group Inc. cut its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 46.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,034 shares of the software maker's stock after selling 8,774 shares during the quarter. Bessemer Group Inc.'s holdings in Intuit were worth $6,160,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Intuit by 2.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker's stock valued at $107,854,000 after purchasing an additional 3,648 shares in the last quarter. Capitolis Liquid Global Markets LLC purchased a new stake in shares of Intuit in the fourth quarter worth $109,988,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Intuit in the fourth quarter worth $237,244,000. Aigen Investment Management LP purchased a new stake in shares of Intuit in the fourth quarter worth $2,958,000. Finally, Baer Investment Advisory LLC purchased a new stake in shares of Intuit in the fourth quarter worth $3,261,000. 83.66% of the stock is currently owned by institutional investors.

Intuit Trading Up 0.5%

Shares of Intuit stock traded up $3.71 during trading on Friday, hitting $776.57. The stock had a trading volume of 2,051,675 shares, compared to its average volume of 1,614,033. The firm's fifty day simple moving average is $700.54 and its 200-day simple moving average is $638.60. The stock has a market cap of $216.62 billion, a PE ratio of 63.03, a PEG ratio of 3.44 and a beta of 1.28. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $787.22.

Intuit (NASDAQ:INTU - Get Free Report) last released its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.89 by $0.76. The firm had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.56 billion. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The business's revenue was up 15.1% on a year-over-year basis. During the same quarter last year, the business earned $9.88 EPS. As a group, sell-side analysts expect that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be issued a $1.04 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.54%. Intuit's dividend payout ratio is currently 33.77%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on INTU. The Goldman Sachs Group increased their price objective on shares of Intuit from $750.00 to $860.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. Jefferies Financial Group set a $850.00 target price on shares of Intuit and gave the company a "buy" rating in a research note on Friday, May 23rd. Citigroup reaffirmed a "buy" rating and set a $789.00 target price (up from $726.00) on shares of Intuit in a research note on Friday, May 23rd. Wells Fargo & Company set a $880.00 target price on shares of Intuit and gave the company an "overweight" rating in a research note on Friday, June 13th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $850.00 target price (up from $760.00) on shares of Intuit in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $793.05.

Insider Activity

In related news, EVP Kerry J. Mclean sold 16,700 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 23,101 shares in the company, valued at $16,844,325.16. The trade was a 41.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Scott D. Cook sold 72,442 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $741.29, for a total transaction of $53,700,530.18. Following the transaction, the insider now owns 6,063,495 shares of the company's stock, valued at approximately $4,494,808,208.55. This trade represents a 1.18% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 272,896 shares of company stock worth $204,351,942. 2.68% of the stock is currently owned by corporate insiders.

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.