Intuit Inc. (NASDAQ:INTU) Shares Bought by NS Partners Ltd

Key Points

• NS Partners Ltd increased its stake in Intuit Inc. by 0.7%, owning 100,843 shares valued at approximately $61.9 million, making Intuit its 7th largest position.
• Recent insider trading activity saw CFO Sandeep Aujla sell 16,061 shares for over $11.6 million, and EVP Kerry J. Mclean sell 16,700 shares for about $12.2 million, significantly reducing their ownership.
• Intuit reported $11.65 EPS for its latest quarter, exceeding expectations, along with revenue of $7.75 billion, marking a 15.1% year-over-year increase.

NS Partners Ltd raised its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 0.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 100,843 shares of the software maker's stock after purchasing an additional 703 shares during the period. Intuit accounts for approximately 2.7% of NS Partners Ltd's portfolio, making the stock its 7th largest holding. NS Partners Ltd's holdings in Intuit were worth $61,917,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Copia Wealth Management purchased a new position in shares of Intuit during the fourth quarter valued at approximately $25,000. Heck Capital Advisors LLC purchased a new position in shares of Intuit during the fourth quarter valued at approximately $28,000. Olde Wealth Management LLC purchased a new position in shares of Intuit during the first quarter valued at approximately $37,000. Atlantic Edge Private Wealth Management LLC lifted its stake in shares of Intuit by 523.1% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 81 shares of the software maker's stock valued at $50,000 after buying an additional 68 shares during the period. Finally, Hughes Financial Services LLC purchased a new position in shares of Intuit during the first quarter valued at approximately $50,000. Hedge funds and other institutional investors own 83.66% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on INTU. Morgan Stanley upped their price objective on shares of Intuit from $785.00 to $900.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Evercore ISI increased their price target on shares of Intuit from $685.00 to $785.00 and gave the stock an "outperform" rating in a research note on Friday, May 23rd. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $850.00 price target (up previously from $760.00) on shares of Intuit in a research note on Friday, May 23rd. UBS Group set a $750.00 price target on shares of Intuit and gave the stock a "neutral" rating in a research note on Friday, May 23rd. Finally, Jefferies Financial Group set a $850.00 price target on shares of Intuit and gave the stock a "buy" rating in a research note on Friday, May 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $806.27.

Intuit Stock Down 1.7%

INTU traded down $12.61 during trading hours on Friday, reaching $749.00. 1,670,219 shares of the stock traded hands, compared to its average volume of 1,423,083. The firm's fifty day simple moving average is $769.27 and its two-hundred day simple moving average is $667.63. The company has a market cap of $208.93 billion, a price-to-earnings ratio of 60.80, a PEG ratio of 2.89 and a beta of 1.28. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $813.70. 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 (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, beating analysts' consensus estimates of $10.89 by $0.76. The business had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.56 billion. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The business's revenue was up 15.1% on a year-over-year basis. During the same period last year, the business earned $9.88 EPS. As a group, analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The company 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. This represents a $4.16 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Thursday, July 10th. Intuit's dividend payout ratio (DPR) is presently 33.77%.

Insider Buying and Selling at Intuit

In other Intuit news, CAO Lauren D. Hotz sold 1,738 shares of the firm's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $784.09, for a total transaction of $1,362,748.42. Following the completion of the transaction, the chief accounting officer directly owned 455 shares of the company's stock, valued at $356,760.95. This trade represents a 79.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark P. Notarainni sold 1,147 shares of the firm's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $773.90, for a total transaction of $887,663.30. Following the transaction, the executive vice president directly owned 19 shares of the company's stock, valued at approximately $14,704.10. This represents a 98.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 279,800 shares of company stock worth $209,725,054. 2.68% of the stock is currently owned by insiders.

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.