Koss Olinger Consulting LLC Buys Shares of 1,728 Intuit Inc. (NASDAQ:INTU)

Key Points

• Koss Olinger Consulting LLC has acquired a new stake in Intuit Inc., purchasing 1,728 shares valued at approximately $1,061,000 in the first quarter.
• Intuit reported a strong quarterly performance with earnings per share of $11.65, exceeding analyst expectations of $10.89, and revenues of $7.75 billion, which is up 15.1% year-over-year.
• Equities analysts have a consensus rating of "Moderate Buy" for Intuit, with a target price averaging $806.27, reflecting positive sentiment towards the stock.

Koss Olinger Consulting LLC bought a new stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,728 shares of the software maker's stock, valued at approximately $1,061,000.

A number of other institutional investors have also added to or reduced their stakes in INTU. GAMMA Investing LLC increased its position in 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 purchasing an additional 2,821,534 shares during the period. Nicholas Hoffman & Company LLC. purchased a new position in Intuit during the 1st quarter valued at about $785,564,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in 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 purchasing an additional 771,232 shares during the period. Unisphere Establishment boosted its holdings in shares of Intuit by 50.0% in the 4th quarter. Unisphere Establishment now owns 1,500,000 shares of the software maker's stock valued at $942,750,000 after buying an additional 500,000 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Intuit by 17.3% in 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 in the last quarter. Hedge funds and other institutional investors own 83.66% of the company's stock.

Intuit Price Performance

NASDAQ INTU traded down $42.91 on Monday, hitting $706.09. The company had a trading volume of 3,194,702 shares, compared to its average volume of 1,454,196. The company has a market capitalization of $196.96 billion, a PE ratio of 57.31, a PEG ratio of 2.89 and a beta of 1.28. The company's fifty day moving average price is $769.27 and its 200-day moving average price is $668.11. 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 Inc. has a 12-month low of $532.65 and a 12-month high of $813.70.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly 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 company 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 firm's revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $9.88 EPS. As a group, analysts predict that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

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

Analyst Upgrades and Downgrades

INTU has been the topic of a number of recent analyst reports. Evercore ISI raised their price target on shares of Intuit from $685.00 to $785.00 and gave the company an "outperform" rating in a report on Friday, May 23rd. Wells Fargo & Company set a $880.00 price target on shares of Intuit and gave the company an "overweight" rating in a report on Friday, June 13th. KeyCorp reiterated an "overweight" rating and issued a $850.00 target price (up from $770.00) on shares of Intuit in a research note on Friday, May 23rd. Scotiabank upgraded shares of Intuit from a "sector perform" rating to a "sector outperform" rating and lifted their target price for the stock from $600.00 to $700.00 in a research note on Thursday, April 17th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $850.00 target price (up from $760.00) 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-one have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $806.27.

Insider Activity at Intuit

In other Intuit news, Director Richard L. Dalzell sold 333 shares of Intuit stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $768.43, for a total transaction of $255,887.19. Following the sale, the director owned 15,474 shares of the company's stock, valued at $11,890,685.82. The trade was a 2.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Alex G. Balazs sold 882 shares of the business's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $781.63, for a total transaction of $689,397.66. The disclosure for this sale can be found here. Insiders have sold a total of 279,800 shares of company stock worth $209,725,054 over the last 90 days. 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.