National Pension Service Acquires 28,753 Shares of Intuit Inc. (NASDAQ:INTU)

Key Points

• National Pension Service increased its stake in Intuit Inc. by 5.1%, owning approximately 0.21% of the company valued at $363 million.
• Analysts have set new price targets for Intuit, with Barclays and Goldman Sachs increasing their targets to $815.00 and $860.00 respectively, while maintaining a general sentiment of "buy."
• Intuit recently reported earnings of $11.65 per share for the last quarter, exceeding expectations and demonstrating a 15.1% year-over-year revenue growth to $7.75 billion.

National Pension Service increased its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 5.1% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 591,336 shares of the software maker's stock after acquiring an additional 28,753 shares during the period. National Pension Service owned about 0.21% of Intuit worth $363,074,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Invesco Ltd. raised its stake in Intuit by 1.2% in the first quarter. Invesco Ltd. now owns 3,078,686 shares of the software maker's stock valued at $1,890,282,000 after buying an additional 36,513 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Intuit by 4.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,841,590 shares of the software maker's stock worth $1,130,718,000 after acquiring an additional 82,419 shares during the last quarter. Pinnacle Financial Partners Inc raised its stake in Intuit by 3.6% in the 1st quarter. Pinnacle Financial Partners Inc now owns 17,789 shares of the software maker's stock valued at $10,922,000 after acquiring an additional 623 shares during the period. Capitolis Liquid Global Markets LLC acquired a new stake in Intuit during the 4th quarter valued at $109,988,000. Finally, Malaga Cove Capital LLC boosted its position in Intuit by 110.6% during the first quarter. Malaga Cove Capital LLC now owns 874 shares of the software maker's stock worth $537,000 after purchasing an additional 459 shares during the period. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Price Performance

INTU traded down $1.07 during trading on Thursday, hitting $710.64. 1,240,965 shares of the stock traded hands, compared to its average volume of 1,609,849. The business has a 50 day moving average price of $764.85 and a 200 day moving average price of $670.19. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $813.70. The company has a market cap of $198.23 billion, a price-to-earnings ratio of 57.68, a PEG ratio of 2.74 and a beta of 1.28.

Intuit (NASDAQ:INTU - Get Free Report) last announced 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. The business had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a return on equity of 21.46% and a net margin of 19.07%. Intuit's revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the prior year, the company earned $9.88 EPS. Equities research analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 10th were issued a dividend of $1.04 per share. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.6%. Intuit's payout ratio is 33.77%.

Insider Activity at Intuit

In other news, EVP Alex G. Balazs sold 882 shares of Intuit stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $781.63, for a total transaction of $689,397.66. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Mark P. Notarainni sold 1,147 shares of the company's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $773.90, for a total value of $887,663.30. Following the completion of the sale, the executive vice president owned 19 shares in the company, valued at $14,704.10. This trade represents a 98.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 279,800 shares of company stock worth $209,725,054 in the last ninety days. Insiders own 2.68% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on INTU. 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. JPMorgan Chase & Co. raised their price objective on shares of Intuit from $660.00 to $770.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $850.00 target price (up previously from $760.00) on shares of Intuit in a research report on Friday, May 23rd. CLSA began coverage on Intuit in a research note on Thursday, June 26th. They issued an "outperform" rating and a $900.00 price target for the company. Finally, KeyCorp reaffirmed an "overweight" rating and issued a $850.00 price objective (up from $770.00) on shares of Intuit in a report on Friday, May 23rd. One investment 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 assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $806.27.

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.