Addenda Capital Inc. Has $15.50 Million Stock Position in Intuit Inc. (NASDAQ:INTU)

Addenda Capital Inc. lifted its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 8.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,248 shares of the software maker's stock after buying an additional 2,001 shares during the quarter. Addenda Capital Inc.'s holdings in Intuit were worth $15,502,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Great Diamond Partners LLC increased its stake in Intuit by 2.8% in the 4th quarter. Great Diamond Partners LLC now owns 627 shares of the software maker's stock valued at $394,000 after buying an additional 17 shares during the period. NewSquare Capital LLC increased its stake in shares of Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after acquiring an additional 18 shares during the period. Ethos Financial Group LLC raised its holdings in Intuit by 3.7% during the fourth quarter. Ethos Financial Group LLC now owns 508 shares of the software maker's stock worth $319,000 after purchasing an additional 18 shares in the last quarter. Legacy Investment Solutions LLC lifted its position in Intuit by 18.0% in the fourth quarter. Legacy Investment Solutions LLC now owns 118 shares of the software maker's stock valued at $68,000 after purchasing an additional 18 shares during the period. Finally, Plancorp LLC boosted its holdings in Intuit by 2.2% in the 4th quarter. Plancorp LLC now owns 889 shares of the software maker's stock valued at $559,000 after purchasing an additional 19 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company's stock.

Intuit Trading Down 0.0%

Shares of Intuit stock traded down $0.33 during trading hours on Tuesday, reaching $764.66. The stock had a trading volume of 1,526,670 shares, compared to its average volume of 1,620,227. The firm has a 50 day simple moving average of $633.69 and a two-hundred day simple moving average of $622.92. The firm has a market capitalization of $213.30 billion, a price-to-earnings ratio of 74.24, a P/E/G ratio of 2.85 and a beta of 1.24. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $771.38.

Intuit (NASDAQ:INTU - Get Free Report) last announced its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share 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 17.59% and a return on equity of 18.25%. The business's quarterly revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $9.88 earnings per share. As a group, equities research analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 10th will be issued a dividend of $1.04 per share. The ex-dividend date is Thursday, July 10th. This represents a $4.16 annualized dividend and a yield of 0.54%. Intuit's dividend payout ratio is presently 33.77%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Royal Bank of Canada reissued an "outperform" rating and issued a $850.00 price target (up from $760.00) on shares of Intuit in a report on Friday, May 23rd. Scotiabank raised Intuit from a "sector perform" rating to a "sector outperform" rating and raised their target price for the company from $600.00 to $700.00 in a report on Thursday, April 17th. BMO Capital Markets reiterated an "outperform" rating and issued a $820.00 price target (up previously from $714.00) on shares of Intuit in a report on Friday, May 23rd. Wells Fargo & Company reiterated an "overweight" rating and issued a $825.00 price objective (up previously from $775.00) on shares of Intuit in a research note on Friday, May 23rd. Finally, Evercore ISI increased their target price on shares of Intuit from $685.00 to $785.00 and gave the company an "outperform" rating in a report on Friday, May 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $785.33.

Insiders Place Their Bets

In related news, Director Eve B. Burton sold 1,702 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the sale, the director now owns 8 shares of the company's stock, valued at $4,800. The trade was a 99.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Scott D. Cook sold 72,442 shares of Intuit stock in a transaction that occurred on Tuesday, May 27th. The stock was 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 now owns 6,063,495 shares in the company, valued at approximately $4,494,808,208.55. This trade represents a 1.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 189,804 shares of company stock worth $138,081,963 in the last three months. 2.68% of the stock is owned by insiders.

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.