Keystone Investors PTE Ltd. Purchases Shares of 4,812 Intuit Inc. (NASDAQ:INTU)

Key Points

• Keystone Investors PTE Ltd. has acquired a new stake in Intuit Inc. worth approximately $2.96 million, making Intuit 0.4% of their overall investment portfolio.
• Insiders at Intuit have sold a total of 279,800 shares valued at over $209 million in the past three months, indicating significant insider trading activity.
• Intuit reported strong quarterly earnings with an EPS of $11.65, surpassing analyst expectations and marking a 15.1% increase in revenue year-over-year.

Keystone Investors PTE Ltd. purchased a new stake in Intuit Inc. (NASDAQ:INTU - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 4,812 shares of the software maker's stock, valued at approximately $2,955,000. Intuit accounts for 0.4% of Keystone Investors PTE Ltd.'s investment portfolio, making the stock its 15th biggest holding.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Intuit by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 27,330,309 shares of the software maker's stock worth $16,780,536,000 after purchasing an additional 294,993 shares during the period. Brown Advisory Inc. grew its position in Intuit by 7.9% in the 1st quarter. Brown Advisory Inc. now owns 3,444,600 shares of the software maker's stock worth $2,114,950,000 after purchasing an additional 252,265 shares during the last quarter. Northern Trust Corp grew its position in Intuit by 17.3% in the 4th quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker's stock worth $2,118,682,000 after purchasing an additional 498,030 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Intuit by 33.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,072,021 shares of the software maker's stock valued at $1,930,765,000 after acquiring an additional 771,232 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in Intuit by 69,701.9% in the first quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker's stock valued at $17,348,790,000 after buying an additional 2,821,534 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Intuit Stock Up 0.1%

NASDAQ INTU traded up $0.63 on Tuesday, hitting $706.72. 1,132,369 shares of the company were exchanged, compared to its average volume of 1,767,329. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $813.70. The company has a market cap of $197.14 billion, a PE ratio of 57.37, a PEG ratio of 2.89 and a beta of 1.28. The stock has a fifty day moving average of $768.10 and a 200-day moving average of $668.87. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29.

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 company had revenue of $7.75 billion for 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 firm's 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. As a group, analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 10th were given a $1.04 dividend. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.6%. Intuit's payout ratio is 33.77%.

Insider Buying and Selling

In other news, CFO Sandeep Aujla sold 2,591 shares of Intuit stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $782.22, for a total transaction of $2,026,732.02. Following the completion of the sale, the chief financial officer owned 768 shares in the company, valued at approximately $600,744.96. This trade represents a 77.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard L. Dalzell sold 333 shares of the business's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $768.43, for a total transaction of $255,887.19. Following the completion of the transaction, the director directly owned 15,474 shares of the company's stock, valued at approximately $11,890,685.82. This represents a 2.11% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 279,800 shares of company stock valued at $209,725,054. Corporate insiders own 2.68% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Barclays reiterated an "overweight" rating and set a $815.00 target price (up from $775.00) on shares of Intuit in a research report on Friday, May 23rd. CLSA started coverage on shares of Intuit in a research note on Thursday, June 26th. They issued an "outperform" rating and a $900.00 price target for the company. Stifel Nicolaus lifted their target price on shares of Intuit from $725.00 to $850.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Bank of America upped their price objective on shares of Intuit from $730.00 to $875.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Intuit from $660.00 to $770.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $806.27.

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.