Copeland Capital Management LLC Sells 520 Shares of Intuit Inc. (NASDAQ:INTU)

Copeland Capital Management LLC cut its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 2.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,179 shares of the software maker's stock after selling 520 shares during the quarter. Copeland Capital Management LLC's holdings in Intuit were worth $14,846,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. 3Chopt Investment Partners LLC bought a new position in shares of Intuit during the 1st quarter valued at $360,000. Hartmann Taylor Wealth Management LLC bought a new position in shares of Intuit during the 1st quarter valued at $233,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Intuit by 83.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 201,059 shares of the software maker's stock valued at $123,448,000 after buying an additional 91,595 shares during the period. Lafayette Investments Inc. lifted its holdings in shares of Intuit by 30.8% during the 1st quarter. Lafayette Investments Inc. now owns 463 shares of the software maker's stock valued at $284,000 after buying an additional 109 shares during the period. Finally, Money Concepts Capital Corp lifted its holdings in shares of Intuit by 7.2% during the 1st quarter. Money Concepts Capital Corp now owns 1,510 shares of the software maker's stock valued at $927,000 after buying an additional 102 shares during the period. 83.66% of the stock is owned by institutional investors.

Insider Transactions at Intuit

In other news, insider Scott D. Cook sold 72,442 shares of Intuit stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $741.29, for a total value of $53,700,530.18. Following the sale, the insider now directly owns 6,063,495 shares of the company's stock, valued at approximately $4,494,808,208.55. The trade was a 1.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Alex G. Balazs sold 1,459 shares of Intuit stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $770.80, for a total value of $1,124,597.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 272,896 shares of company stock valued at $204,351,942. 2.68% of the stock is currently owned by insiders.

Intuit Price Performance

NASDAQ:INTU traded up $3.71 on Friday, reaching $776.57. 2,051,675 shares of the company's stock traded hands, compared to its average volume of 1,613,471. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29. The stock has a 50-day simple moving average of $700.54 and a 200-day simple moving average of $638.38. The firm has a market cap of $216.62 billion, a PE ratio of 63.03, a P/E/G ratio of 3.45 and a beta of 1.28. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $787.22.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, beating analysts' consensus estimates of $10.89 by $0.76. The business had revenue of $7.75 billion for the quarter, compared to analysts' expectations of $7.56 billion. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The business's quarterly revenue was up 15.1% on a year-over-year basis. During the same period last year, the firm earned $9.88 earnings per share. Equities research analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on INTU. Royal Bank Of Canada reissued an "outperform" rating and set a $850.00 price target (up from $760.00) on shares of Intuit in a report on Friday, May 23rd. Susquehanna reissued a "positive" rating on shares of Intuit in a report on Friday, May 23rd. JPMorgan Chase & Co. increased their price target on Intuit from $660.00 to $770.00 and gave the company an "overweight" rating in a report on Friday, May 23rd. Piper Sandler reaffirmed an "overweight" rating and issued a $825.00 target price (up from $785.00) on shares of Intuit in a report on Friday, May 23rd. Finally, UBS Group set a $750.00 target price on 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 given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $793.05.

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.