Crescent Sterling Ltd. Acquires 638 Shares of Intuit Inc. (NASDAQ:INTU)

Crescent Sterling Ltd. increased its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 111.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,211 shares of the software maker's stock after purchasing an additional 638 shares during the quarter. Crescent Sterling Ltd.'s holdings in Intuit were worth $744,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC raised its holdings in Intuit by 61.3% during the fourth quarter. Brighton Jones LLC now owns 3,552 shares of the software maker's stock valued at $2,233,000 after acquiring an additional 1,350 shares during the period. Union Bancaire Privee UBP SA bought a new stake in Intuit during the fourth quarter valued at about $104,278,000. Revolve Wealth Partners LLC raised its holdings in Intuit by 145.6% during the fourth quarter. Revolve Wealth Partners LLC now owns 813 shares of the software maker's stock valued at $511,000 after acquiring an additional 482 shares during the period. Empowered Funds LLC raised its holdings in Intuit by 26.4% during the fourth quarter. Empowered Funds LLC now owns 7,021 shares of the software maker's stock valued at $4,413,000 after acquiring an additional 1,465 shares during the period. Finally, Kestra Private Wealth Services LLC raised its holdings in Intuit by 62.8% during the fourth quarter. Kestra Private Wealth Services LLC now owns 7,409 shares of the software maker's stock valued at $4,657,000 after acquiring an additional 2,858 shares during the period. 83.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on INTU shares. Barclays reissued an "overweight" rating and set a $815.00 price target (up from $775.00) on shares of Intuit in a report on Friday, May 23rd. Morgan Stanley reaffirmed an "overweight" rating and issued a $785.00 target price (up from $720.00) on shares of Intuit in a report on Friday, May 23rd. Jefferies Financial Group set a $850.00 target price on Intuit and gave the stock a "buy" rating in a report on Friday, May 23rd. Citigroup reaffirmed a "buy" rating and issued a $789.00 target price (up from $726.00) on shares of Intuit in a report on Friday, May 23rd. Finally, Evercore ISI lifted their target price on Intuit from $685.00 to $785.00 and gave the stock an "outperform" rating in a report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $787.95.

Insider Buying and Selling at Intuit

In other news, Director Eve B. Burton sold 1,702 shares of Intuit stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the completion of the sale, the director now owns 8 shares of the company's stock, valued at approximately $4,800. The trade was a 99.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Alex G. Balazs sold 1,459 shares of Intuit stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $770.80, for a total transaction of $1,124,597.20. The disclosure for this sale can be found here. Insiders sold 288,408 shares of company stock worth $213,441,865 over the last 90 days. Company insiders own 2.68% of the company's stock.

Intuit Trading Down 1.6%

INTU traded down $12.23 on Friday, hitting $753.98. The company had a trading volume of 1,148,047 shares, compared to its average volume of 1,609,672. The company has a market cap of $210.32 billion, a PE 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 business's fifty day simple moving average is $660.65 and its 200 day simple moving average is $629.50.

Intuit (NASDAQ:INTU - Get Free Report) last announced its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.89 by $0.76. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.56 billion. During the same quarter in the previous year, the business earned $9.88 earnings per share. The company's revenue for the quarter was up 15.1% compared to the same quarter last year. Equities research 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 annualized dividend and a dividend yield of 0.55%. Intuit's dividend payout ratio (DPR) is presently 33.77%.

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.