Congress Park Capital LLC Increases Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Congress Park Capital LLC raised its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 85.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,280 shares of the software maker's stock after buying an additional 588 shares during the period. Congress Park Capital LLC's holdings in Intuit were worth $786,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Intuit by 2.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker's stock worth $107,854,000 after acquiring an additional 3,648 shares in the last quarter. Capitolis Liquid Global Markets LLC purchased a new stake in shares of Intuit during the 4th quarter worth approximately $109,988,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Intuit during the fourth quarter valued at $237,244,000. Alberta Investment Management Corp purchased a new position in Intuit in the fourth quarter worth about $10,757,000. Finally, Aigen Investment Management LP bought a new position in shares of Intuit during the 4th quarter valued at approximately $2,958,000. 83.66% of the stock is currently owned by institutional investors.

Intuit Trading Down 1.3%

Shares of Intuit stock opened at $754.83 on Friday. The firm's 50 day simple moving average is $679.41 and its two-hundred day simple moving average is $633.70. The firm has a market capitalization of $210.56 billion, a price-to-earnings ratio of 61.27, a PEG ratio of 3.36 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 current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29.

Intuit (NASDAQ:INTU - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping the consensus estimate of $10.89 by $0.76. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same period last year, the firm earned $9.88 EPS. The firm's revenue for the quarter was up 15.1% compared to the same quarter last year. Analysts predict that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Evercore ISI increased their price objective on shares of Intuit from $685.00 to $785.00 and gave the stock an "outperform" rating in a research report on Friday, May 23rd. Hsbc Global Res raised shares of Intuit from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. The Goldman Sachs Group raised their target price on shares of Intuit from $750.00 to $860.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. Morgan Stanley reiterated an "overweight" rating and issued a $785.00 price target (up previously from $720.00) on shares of Intuit in a report on Friday, May 23rd. Finally, JPMorgan Chase & Co. increased their price objective on Intuit from $660.00 to $770.00 and gave the stock an "overweight" rating in a research note on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Intuit currently has a consensus rating of "Moderate Buy" and an average target price of $787.95.

Insider Buying and Selling

In related news, insider Scott D. Cook sold 62,816 shares of Intuit stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $765.99, for a total value of $48,116,427.84. Following the completion of the transaction, the insider now owns 6,000,679 shares in the company, valued at $4,596,460,107.21. The trade was a 1.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alex G. Balazs sold 1,459 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $770.80, for a total value of $1,124,597.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 279,321 shares of company stock valued at $207,988,705. Corporate insiders own 2.68% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.