Mn Services Vermogensbeheer B.V. Decreases Stock Position in Intuit Inc. (NASDAQ:INTU)

Mn Services Vermogensbeheer B.V. reduced its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 6.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,005 shares of the software maker's stock after selling 7,500 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Intuit were worth $63,244,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Copia Wealth Management bought a new position in shares of Intuit during the fourth quarter valued at approximately $25,000. NewSquare Capital LLC increased its stake in shares of Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock valued at $27,000 after purchasing an additional 18 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of Intuit during the fourth quarter valued at approximately $28,000. Heck Capital Advisors LLC bought a new position in shares of Intuit during the fourth quarter valued at approximately $28,000. Finally, VSM Wealth Advisory LLC bought a new position in shares of Intuit during the fourth quarter valued at approximately $35,000. Institutional investors own 83.66% of the company's stock.

Analyst Upgrades and Downgrades

INTU has been the subject of several analyst reports. Citigroup reissued a "buy" rating and set a $789.00 price target (up previously from $726.00) on shares of Intuit in a research report on Friday, May 23rd. Scotiabank raised shares of Intuit from a "sector perform" rating to a "sector outperform" rating and raised their price target for the company from $600.00 to $700.00 in a research report on Thursday, April 17th. The Goldman Sachs Group raised their price target on shares of Intuit from $750.00 to $860.00 and gave the company a "buy" rating in a research report on Monday, May 19th. Royal Bank of Canada reissued an "outperform" rating and set a $850.00 price target (up previously from $760.00) on shares of Intuit in a research report on Friday, May 23rd. Finally, Morgan Stanley reissued an "overweight" rating and set a $785.00 price target (up previously from $720.00) on shares of Intuit in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $787.95.

Insider Activity

In other news, EVP Mark P. Notarainni sold 469 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $725.00, for a total transaction of $340,025.00. Following the sale, the executive vice president now directly owns 19 shares in the company, valued at $13,775. This trade represents a 96.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eve B. Burton sold 1,702 shares of the firm's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the sale, the director now owns 8 shares in the company, valued at $4,800. The trade was a 99.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 288,408 shares of company stock worth $213,441,865 in the last three months. Company insiders own 2.68% of the company's stock.

Intuit Stock Performance

Shares of Intuit stock traded down $12.23 on Friday, hitting $753.98. 1,148,047 shares of the company's stock were exchanged, compared to its average volume of 1,611,840. The company has a 50-day simple moving average of $664.85 and a 200-day simple moving average of $630.25. The stock has a market capitalization of $210.32 billion, a PE ratio of 73.20, a PEG ratio of 2.85 and a beta of 1.28. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $773.45. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping the consensus estimate of $10.89 by $0.76. The business had revenue of $7.75 billion for the quarter, compared to analysts' expectations of $7.56 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company's revenue was up 15.1% compared to the same quarter last year. During the same quarter last year, the company posted $9.88 EPS. As a group, equities analysts anticipate that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be given a dividend of $1.04 per share. The ex-dividend date is Thursday, July 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.55%. Intuit's payout ratio is 33.77%.

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.