NorthCrest Asset Manangement LLC Increases Stake in Intuit Inc. (NASDAQ:INTU)

NorthCrest Asset Manangement LLC grew its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 1.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 70,416 shares of the software maker's stock after purchasing an additional 730 shares during the quarter. Intuit makes up about 1.3% of NorthCrest Asset Manangement LLC's holdings, making the stock its 10th largest position. NorthCrest Asset Manangement LLC's holdings in Intuit were worth $43,235,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in INTU. Brighton Jones LLC raised its stake in Intuit by 61.3% during the 4th quarter. Brighton Jones LLC now owns 3,552 shares of the software maker's stock valued at $2,233,000 after acquiring an additional 1,350 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new stake in shares of Intuit in the fourth quarter valued at approximately $104,278,000. Revolve Wealth Partners LLC raised its position in Intuit by 145.6% in the fourth quarter. Revolve Wealth Partners LLC now owns 813 shares of the software maker's stock worth $511,000 after acquiring an additional 482 shares in the last quarter. Savant Capital LLC lifted its holdings in Intuit by 13.4% in the fourth quarter. Savant Capital LLC now owns 3,394 shares of the software maker's stock valued at $2,133,000 after acquiring an additional 401 shares during the period. Finally, Sovran Advisors LLC purchased a new stake in Intuit during the fourth quarter worth about $250,000. Institutional investors and hedge funds own 83.66% of the company's stock.

Analysts Set New Price Targets

INTU has been the topic of a number of research reports. HSBC upgraded Intuit from a "hold" rating to a "buy" rating and set a $699.00 price target on the stock in a report on Wednesday, April 23rd. KeyCorp reaffirmed an "overweight" rating and set a $850.00 price target (up previously from $770.00) on shares of Intuit in a research note on Friday, May 23rd. Evercore ISI raised 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. Wall Street Zen raised shares of Intuit from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Finally, Barclays reissued an "overweight" rating and set a $815.00 price objective (up from $775.00) on shares of Intuit in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Intuit presently has a consensus rating of "Moderate Buy" and a consensus target price of $787.95.

Intuit Trading Up 1.9%

NASDAQ INTU traded up $14.10 during mid-day trading on Monday, hitting $768.08. The company's stock had a trading volume of 1,361,491 shares, compared to its average volume of 1,611,093. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $773.45. The stock's fifty day simple moving average is $664.85 and its two-hundred day simple moving average is $630.21. The firm has a market capitalization of $214.25 billion, a P/E ratio of 74.57, a price-to-earnings-growth ratio of 2.85 and a beta of 1.28.

Intuit (NASDAQ:INTU - Get Free Report) last released 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. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same period last year, the company posted $9.88 earnings per share. The firm's revenue was up 15.1% compared to the same quarter last year. Research analysts expect that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

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

Insider Transactions at Intuit

In related news, insider Scott D. Cook sold 62,816 shares of the stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $765.99, for a total value of $48,116,427.84. Following the completion of the transaction, the insider now owns 6,000,679 shares of the company's stock, valued at approximately $4,596,460,107.21. This represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Alex G. Balazs sold 1,459 shares of Intuit stock in a transaction that occurred on 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 288,408 shares of company stock valued at $213,441,865. Corporate insiders own 2.68% of the company's stock.

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.