Keystone Investors PTE Ltd. Takes Position in 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 position 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 fund purchased 4,812 shares of the software maker's stock, valued at approximately $2,955,000. Intuit comprises 0.4% of Keystone Investors PTE Ltd.'s holdings, making the stock its 15th biggest holding.

Several other hedge funds have also recently added to or reduced their stakes in the business. 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. boosted its stake in shares of Intuit by 7.9% during the 1st quarter. Brown Advisory Inc. now owns 3,444,600 shares of the software maker's stock valued at $2,114,950,000 after buying an additional 252,265 shares during the period. Northern Trust Corp boosted its stake in shares of Intuit by 17.3% during the 4th quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker's stock valued at $2,118,682,000 after buying an additional 498,030 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake 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 buying an additional 771,232 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Intuit by 69,701.9% during the 1st 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 during the period. Institutional investors and hedge funds own 83.66% of the company's stock.

Intuit Stock Performance

INTU traded down $12.61 during trading on Friday, hitting $749.00. The stock had a trading volume of 1,670,219 shares, compared to its average volume of 1,423,083. The firm has a market cap of $208.93 billion, a PE ratio of 60.80, a P/E/G ratio of 2.89 and a beta of 1.28. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $813.70. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29. The company has a 50 day simple moving average of $769.27 and a 200-day simple moving average of $667.63.

Intuit (NASDAQ:INTU - Get Free Report) last announced its earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, topping the consensus estimate of $10.89 by $0.76. The firm had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The business's quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter last year, the firm posted $9.88 EPS. Analysts expect that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

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

Insider Activity at Intuit

In other news, EVP Kerry J. Mclean sold 16,700 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $729.16, for a total transaction of $12,176,972.00. Following the transaction, the executive vice president owned 23,101 shares in the company, valued at approximately $16,844,325.16. The trade was a 41.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Laura A. Fennell sold 25,648 shares of the business's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $752.25, for a total transaction of $19,293,708.00. Following the transaction, the executive vice president owned 22,796 shares in the company, valued at approximately $17,148,291. The trade was a 52.94% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 279,800 shares of company stock worth $209,725,054. Insiders own 2.68% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on INTU. HSBC raised shares of Intuit from a "hold" rating to a "buy" rating and set a $699.00 target price for the company in a research note on Wednesday, April 23rd. Wall Street Zen raised shares of Intuit from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. CLSA began coverage on shares of Intuit in a research note on Thursday, June 26th. They set an "outperform" rating and a $900.00 target price for the company. Evercore ISI lifted their target price on shares of Intuit from $685.00 to $785.00 and gave the company an "outperform" rating in a research note on Friday, May 23rd. Finally, BMO Capital Markets lifted their target price on shares of Intuit from $820.00 to $870.00 and gave the company an "outperform" rating in a research note on Thursday, July 10th. One 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $806.27.

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.