Neuberger Berman Group LLC Has $394.65 Million Stake in Intuit Inc. (NASDAQ:INTU)

Key Points

• Neuberger Berman Group LLC reduced its stake in Intuit Inc. by 28.5% during the 1st quarter, now owning approximately $394.65 million worth of shares.
• Intuit reported a quarterly earnings per share of $11.65, exceeding analysts' expectations, with revenue up 15.1% year-over-year.
• Analysts remain optimistic on Intuit's stock, with many issuing target prices above $800, reflecting strong demand and growth prospects.

Neuberger Berman Group LLC decreased its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 28.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 643,035 shares of the software maker's stock after selling 256,091 shares during the period. Neuberger Berman Group LLC owned 0.23% of Intuit worth $394,650,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of INTU. Brighton Jones LLC increased its position in Intuit by 61.3% during the fourth quarter. Brighton Jones LLC now owns 3,552 shares of the software maker's stock worth $2,233,000 after purchasing an additional 1,350 shares during the last quarter. Revolve Wealth Partners LLC increased its position in Intuit by 145.6% during the fourth quarter. Revolve Wealth Partners LLC now owns 813 shares of the software maker's stock worth $511,000 after purchasing an additional 482 shares during the last quarter. Bank Pictet & Cie Europe AG increased its position in Intuit by 14.2% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 1,992 shares of the software maker's stock worth $1,252,000 after purchasing an additional 248 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in Intuit by 14.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 26,040 shares of the software maker's stock worth $16,370,000 after purchasing an additional 3,377 shares during the last quarter. Finally, SageView Advisory Group LLC increased its position in Intuit by 23.0% during the fourth quarter. SageView Advisory Group LLC now owns 518 shares of the software maker's stock worth $326,000 after purchasing an additional 97 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company's stock.

Insider Activity at Intuit

In other news, Director Richard L. Dalzell sold 333 shares of the business's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $768.43, for a total value of $255,887.19. Following the completion of the sale, the director directly owned 15,474 shares in the company, valued at approximately $11,890,685.82. The trade was a 2.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Alex G. Balazs sold 882 shares of the firm's stock in a transaction on 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. In the last ninety days, insiders sold 279,800 shares of company stock valued at $209,725,054. Corporate insiders own 2.68% of the company's stock.

Intuit Price Performance

INTU traded down $1.07 on Thursday, reaching $710.64. The company had a trading volume of 1,240,965 shares, compared to its average volume of 1,609,849. The company has a fifty day moving average of $764.85 and a 200-day moving average of $670.19. The company has a market capitalization of $198.23 billion, a P/E ratio of 57.68, a PEG ratio of 2.74 and a beta of 1.28. 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 Inc. has a one year low of $532.65 and a one year high of $813.70.

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

Intuit Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.6%. Intuit's dividend payout ratio is currently 33.77%.

Analyst Upgrades and Downgrades

INTU has been the subject of several research reports. Royal Bank Of Canada reiterated an "outperform" rating and set a $850.00 price objective (up from $760.00) on shares of Intuit in a research note on Friday, May 23rd. Bank of America boosted their price objective on shares of Intuit from $730.00 to $875.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Oppenheimer boosted their price objective on shares of Intuit from $742.00 to $868.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Evercore ISI boosted their price objective on shares of Intuit from $685.00 to $785.00 and gave the stock an "outperform" rating in a research note on Friday, May 23rd. Finally, Barclays reiterated an "overweight" rating and set a $815.00 price objective (up from $775.00) on shares of Intuit in a research note on Friday, May 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Intuit presently 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.