IFM Investors Pty Ltd Boosts Stake in Intuit Inc. (NASDAQ:INTU)

IFM Investors Pty Ltd boosted its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 8.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,155 shares of the software maker's stock after buying an additional 4,585 shares during the period. IFM Investors Pty Ltd's holdings in Intuit were worth $37,356,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in shares of Intuit by 61.3% in the 4th quarter. Brighton Jones LLC now owns 3,552 shares of the software maker's stock valued at $2,233,000 after purchasing an additional 1,350 shares during the last quarter. Revolve Wealth Partners LLC grew its stake in shares of Intuit by 145.6% in the 4th quarter. Revolve Wealth Partners LLC now owns 813 shares of the software maker's stock valued at $511,000 after purchasing an additional 482 shares during the last quarter. Bank Pictet & Cie Europe AG grew its stake in shares of Intuit by 14.2% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 1,992 shares of the software maker's stock valued at $1,252,000 after purchasing an additional 248 shares during the last quarter. J.Safra Asset Management Corp grew its stake in shares of Intuit by 80.0% in the 4th quarter. J.Safra Asset Management Corp now owns 108 shares of the software maker's stock valued at $68,000 after purchasing an additional 48 shares during the last quarter. Finally, NewSquare Capital LLC grew its stake in shares of Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock valued at $27,000 after purchasing an additional 18 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Hsbc Global Res upgraded Intuit from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. The Goldman Sachs Group lifted their target price on Intuit from $750.00 to $860.00 and gave the company a "buy" rating in a research note on Monday, May 19th. Evercore ISI lifted their price target on Intuit from $685.00 to $785.00 and gave the company an "outperform" rating in a research note on Friday, May 23rd. HSBC upgraded Intuit from a "hold" rating to a "buy" rating and set a $699.00 price target on the stock in a research note on Wednesday, April 23rd. Finally, Morgan Stanley restated an "overweight" rating and issued a $785.00 price target (up from $720.00) on shares of Intuit in a research note on Friday, May 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $793.05.

Insider Transactions at Intuit

In related news, CFO Sandeep Aujla sold 16,061 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $726.13, for a total value of $11,662,373.93. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Kerry J. Mclean sold 16,700 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $729.16, for a total value of $12,176,972.00. Following the completion of the transaction, the executive vice president owned 23,101 shares of the company's stock, valued at $16,844,325.16. The trade was a 41.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 275,661 shares of company stock valued at $206,491,776. Corporate insiders own 2.68% of the company's stock.

Intuit Price Performance

INTU traded up $8.56 during trading on Friday, reaching $782.26. 822,973 shares of the stock were exchanged, compared to its average volume of 1,619,453. The business's 50 day moving average price is $718.90 and its two-hundred day moving average price is $642.44. 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 company has a market capitalization of $218.21 billion, a price-to-earnings ratio of 63.49, a P/E/G ratio of 3.47 and a beta of 1.27. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $790.60.

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

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be paid a $1.04 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 annualized dividend and a yield of 0.53%. Intuit's payout ratio is currently 33.77%.

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.