Ninety One UK Ltd Has $864.30 Million Holdings in Intuit Inc. (NASDAQ:INTU)

Ninety One UK Ltd reduced its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 2.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,407,682 shares of the software maker's stock after selling 31,633 shares during the period. Intuit accounts for about 2.4% of Ninety One UK Ltd's portfolio, making the stock its 11th largest holding. Ninety One UK Ltd owned about 0.50% of Intuit worth $864,303,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. increased its stake in shares of Intuit by 16.2% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 6,905 shares of the software maker's stock worth $4,240,000 after purchasing an additional 962 shares during the last quarter. Davidson Investment Advisors increased its stake in shares of Intuit by 2.5% during the 1st quarter. Davidson Investment Advisors now owns 42,987 shares of the software maker's stock worth $26,394,000 after purchasing an additional 1,047 shares during the last quarter. Interchange Capital Partners LLC increased its stake in shares of Intuit by 3.2% during the 1st quarter. Interchange Capital Partners LLC now owns 743 shares of the software maker's stock worth $456,000 after purchasing an additional 23 shares during the last quarter. Crossmark Global Holdings Inc. increased its stake in shares of Intuit by 5.2% during the 1st quarter. Crossmark Global Holdings Inc. now owns 22,524 shares of the software maker's stock worth $13,830,000 after purchasing an additional 1,118 shares during the last quarter. Finally, Fullcircle Wealth LLC acquired a new position in shares of Intuit during the 1st quarter worth about $256,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Intuit

In other Intuit news, EVP Marianna Tessel sold 34,329 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $760.84, for a total value of $26,118,876.36. Following the completion of the transaction, the executive vice president directly owned 40,767 shares in the company, valued at approximately $31,017,164.28. This represents a 45.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Scott D. Cook sold 72,442 shares of the company's 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 completion of the transaction, the insider owned 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 278,252 shares of company stock worth $208,518,508. 2.68% of the stock is currently owned by insiders.

Intuit Price Performance

Shares of Intuit stock traded down $7.47 on Wednesday, reaching $774.02. 199,873 shares of the stock were exchanged, compared to its average volume of 1,614,694. The firm's 50 day moving average is $725.37 and its 200-day moving average is $644.37. Intuit Inc. has a one year low of $532.65 and a one year high of $790.60. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45. The firm has a market cap of $215.91 billion, a PE ratio of 62.93, a P/E/G ratio of 3.49 and a beta of 1.27.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The firm's revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $9.88 EPS. As a group, analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

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

Analyst Ratings Changes

Several analysts recently commented on the stock. Stifel Nicolaus lifted their target price on shares of Intuit from $725.00 to $850.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Scotiabank raised shares of Intuit from a "sector perform" rating to a "sector outperform" rating and lifted their target price for the stock from $600.00 to $700.00 in a report on Thursday, April 17th. Jefferies Financial Group set a $850.00 target price on shares of Intuit and gave the stock a "buy" rating in a report on Friday, May 23rd. Susquehanna reaffirmed a "positive" rating on shares of Intuit in a report on Friday, May 23rd. Finally, UBS Group set a $750.00 target price on shares of Intuit and gave the stock a "neutral" rating in a report on Friday, May 23rd. One investment 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's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $798.27.

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.