Lecap Asset Management Ltd. Purchases New Shares in Intuit Inc. (NASDAQ:INTU)

Lecap Asset Management Ltd. bought a new stake in Intuit Inc. (NASDAQ:INTU - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,844 shares of the software maker's stock, valued at approximately $2,360,000.

Other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC lifted its position in Intuit by 5.5% during the first quarter. International Assets Investment Management LLC now owns 828 shares of the software maker's stock worth $508,000 after purchasing an additional 43 shares during the period. Cornerstone Wealth Group LLC lifted its position in Intuit by 27.0% during the first quarter. Cornerstone Wealth Group LLC now owns 846 shares of the software maker's stock worth $520,000 after purchasing an additional 180 shares during the period. Family Legacy Inc. lifted its position in Intuit by 2.9% during the first quarter. Family Legacy Inc. now owns 2,532 shares of the software maker's stock worth $1,555,000 after purchasing an additional 72 shares during the period. YHB Investment Advisors Inc. raised its stake in Intuit by 1.3% during the first quarter. YHB Investment Advisors Inc. now owns 20,512 shares of the software maker's stock worth $12,594,000 after acquiring an additional 261 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. raised its stake in Intuit by 469.6% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 131 shares of the software maker's stock worth $80,000 after acquiring an additional 108 shares in the last quarter. Institutional investors own 83.66% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on INTU. Mizuho boosted their target price on Intuit from $750.00 to $765.00 and gave the stock an "outperform" rating in a research note on Monday, March 3rd. BMO Capital Markets reissued an "outperform" rating and set a $820.00 target price (up previously from $714.00) on shares of Intuit in a research note on Friday, May 23rd. Wells Fargo & Company set a $880.00 target price on Intuit and gave the stock an "overweight" rating in a research note on Friday, June 13th. KeyCorp reissued an "overweight" rating and set a $850.00 target price (up previously from $770.00) on shares of Intuit in a research note on Friday, May 23rd. Finally, Morgan Stanley reissued an "overweight" rating and set a $785.00 target price (up previously from $720.00) on shares of Intuit in a research note on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Intuit currently has a consensus rating of "Moderate Buy" and an average price target of $793.05.

Insider Buying and Selling

In related news, insider Scott D. Cook sold 72,442 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $741.29, for a total value of $53,700,530.18. Following the completion of the sale, the insider now directly owns 6,063,495 shares of the company's stock, valued at approximately $4,494,808,208.55. This represents a 1.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Mark P. Notarainni sold 469 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $725.00, for a total value of $340,025.00. Following the completion of the sale, the executive vice president now directly owns 19 shares of the company's stock, valued at $13,775. The trade was a 96.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 272,896 shares of company stock worth $204,351,942 in the last ninety days. Corporate insiders own 2.68% of the company's stock.

Intuit Trading Up 0.5%

Shares of Intuit stock traded up $3.71 on Friday, reaching $776.57. 2,051,675 shares of the company's stock were exchanged, compared to its average volume of 1,614,033. The company has a market capitalization of $216.62 billion, a P/E ratio of 63.03, a price-to-earnings-growth ratio of 3.44 and a beta of 1.28. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $787.22. The firm's 50-day moving average is $700.54 and its two-hundred day moving average is $638.60. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.89 by $0.76. The firm had revenue of $7.75 billion for the quarter, compared to analysts' expectations of $7.56 billion. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The company's revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the prior year, the business earned $9.88 EPS. Sell-side analysts predict that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

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

About Intuit

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.