Intuit Inc. (NASDAQ:INTU) Stake Lowered by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale cut its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 0.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 314,315 shares of the software maker's stock after selling 389 shares during the period. DekaBank Deutsche Girozentrale owned about 0.11% of Intuit worth $185,048,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of INTU. Legacy Investment Solutions LLC grew its stake in 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 purchasing an additional 18 shares in the last quarter. Financial Management Professionals Inc. grew its stake in Intuit by 18.4% in the first quarter. Financial Management Professionals Inc. now owns 116 shares of the software maker's stock worth $71,000 after purchasing an additional 18 shares in the last quarter. Chris Bulman Inc increased its stake in Intuit by 1.2% during the first 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. Plancorp LLC increased its stake in Intuit by 2.2% during the fourth quarter. Plancorp LLC now owns 889 shares of the software maker's stock valued at $559,000 after purchasing an additional 19 shares during the last quarter. Finally, Kolinsky Wealth Management LLC increased its stake in Intuit by 1.6% during the fourth quarter. Kolinsky Wealth Management LLC now owns 1,192 shares of the software maker's stock valued at $749,000 after purchasing an additional 19 shares during the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Price Performance

NASDAQ INTU remained flat at $747.90 on Friday. 1,047,778 shares of the company's stock traded hands, compared to its average volume of 1,621,283. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $790.60. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45. The company has a market cap of $208.63 billion, a P/E ratio of 60.71, a price-to-earnings-growth ratio of 3.33 and a beta of 1.27. The business's 50-day moving average price is $733.03 and its 200-day moving average price is $646.70.

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

Intuit Announces Dividend

The company also recently disclosed 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. This represents a $4.16 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit's payout ratio is 33.77%.

Insider Activity

In other Intuit news, insider Scott D. Cook sold 72,442 shares of Intuit stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $741.29, for a total transaction of $53,700,530.18. Following the transaction, the insider directly owned 6,063,495 shares in the company, valued at approximately $4,494,808,208.55. The trade was a 1.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Sandeep Aujla sold 16,061 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $726.13, for a total transaction of $11,662,373.93. Following the transaction, the chief financial officer owned 197 shares in the company, valued at approximately $143,047.61. This represents a 98.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 279,800 shares of company stock worth $209,725,054. 2.68% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on INTU shares. Morgan Stanley boosted their target price on shares of Intuit from $785.00 to $900.00 and gave the company an "overweight" rating in a research note on Monday. HSBC raised Intuit from a "hold" rating to a "buy" rating and set a $699.00 price target on the stock in a report on Wednesday, April 23rd. Stifel Nicolaus boosted their target price on Intuit from $725.00 to $850.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. KeyCorp reissued an "overweight" rating and set a $850.00 target price (up previously from $770.00) on shares of Intuit in a report on Friday, May 23rd. Finally, Hsbc Global Res raised Intuit from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $800.55.

About Intuit

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.