Impax Asset Management Group plc Has $14.65 Million Holdings in Intuit Inc. (NASDAQ:INTU)

Impax Asset Management Group plc boosted its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 6.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 23,860 shares of the software maker's stock after acquiring an additional 1,468 shares during the period. Impax Asset Management Group plc's holdings in Intuit were worth $14,650,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Norges Bank bought a new stake in Intuit during the fourth quarter valued at approximately $2,290,419,000. GAMMA Investing LLC grew its holdings in shares of Intuit by 69,701.9% during the 1st quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker's stock worth $17,348,790,000 after acquiring an additional 2,821,534 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Intuit by 33.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,072,021 shares of the software maker's stock worth $1,930,765,000 after acquiring an additional 771,232 shares during the period. Wellington Management Group LLP raised its position in shares of Intuit by 13.3% in the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock worth $3,329,115,000 after acquiring an additional 620,559 shares in the last quarter. Finally, Unisphere Establishment grew its position in shares of Intuit by 50.0% in the 4th quarter. Unisphere Establishment now owns 1,500,000 shares of the software maker's stock worth $942,750,000 after buying an additional 500,000 shares during the period. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Royal Bank Of Canada reiterated an "outperform" rating and set a $850.00 price target (up previously from $760.00) on shares of Intuit in a report on Friday, May 23rd. Stifel Nicolaus upped their target price on shares of Intuit from $725.00 to $850.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Bank of America increased their price target on shares of Intuit from $730.00 to $875.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Hsbc Global Res raised Intuit from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. Finally, HSBC upgraded Intuit from a "hold" rating to a "buy" rating and set a $699.00 target price for the company in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $798.27.

Intuit Stock Performance

Shares of NASDAQ INTU traded up $2.97 during mid-day trading on Monday, hitting $783.61. The company had a trading volume of 1,294,877 shares, compared to its average volume of 1,618,568. 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 firm's 50 day simple moving average is $718.90 and its two-hundred day simple moving average is $642.43. The stock has a market cap of $218.59 billion, a price-to-earnings ratio of 63.60, a PEG ratio of 3.47 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 EPS for the quarter, beating the consensus estimate of $10.89 by $0.76. The firm had revenue of $7.75 billion for the quarter, compared to analysts' expectations of $7.56 billion. Intuit had a net margin of 19.07% and a return on equity of 21.46%. Intuit's quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter last year, the company earned $9.88 EPS. As a group, equities research analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be given a $1.04 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.53%. Intuit's dividend payout ratio (DPR) is 33.77%.

Insider Transactions at Intuit

In related news, EVP Laura A. Fennell sold 25,648 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $752.25, for a total value of $19,293,708.00. Following the transaction, the executive vice president directly owned 22,796 shares of the company's stock, valued at approximately $17,148,291. This trade represents a 52.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sandeep Aujla sold 16,061 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $726.13, for a total value of $11,662,373.93. Following the completion of the sale, the chief financial officer directly 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. Insiders have sold a total of 275,661 shares of company stock worth $206,491,776 in the last three months. Insiders own 2.68% of the company's stock.

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.