Oak Ridge Investments LLC Buys 912 Shares of Intuit Inc. $INTU

Key Points

• Oak Ridge Investments LLC increased its stake in Intuit Inc. by 6.2%, acquiring an additional 912 shares and bringing its total holdings to 15,658 shares worth approximately $9.6 million.
• Intuit reported a quarterly earnings per share (EPS) of $11.65, exceeding analysts' estimates and marking a 15.1% year-over-year revenue growth with $7.75 billion in revenue.
• The company has a market capitalization of $198.53 billion and 83.66% of its stock is owned by hedge funds and institutional investors.

Oak Ridge Investments LLC boosted its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 6.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,658 shares of the software maker's stock after purchasing an additional 912 shares during the period. Intuit accounts for about 0.8% of Oak Ridge Investments LLC's investment portfolio, making the stock its 26th biggest holding. Oak Ridge Investments LLC's holdings in Intuit were worth $9,614,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in Intuit by 69,701.9% in 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 acquiring an additional 2,821,534 shares in the last quarter. Nuveen LLC bought a new stake in Intuit during the 1st quarter worth $882,031,000. Nicholas Hoffman & Company LLC. bought a new stake in Intuit during the 1st quarter worth $785,564,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Intuit by 33.5% in 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 last quarter. Finally, Unisphere Establishment grew its position 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 during the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Trading Up 0.1%

Shares of NASDAQ INTU traded up $0.47 during trading hours on Monday, hitting $717.21. The company's stock had a trading volume of 1,627,993 shares, compared to its average volume of 1,768,659. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45. The stock has a market cap of $200.06 billion, a price-to-earnings ratio of 58.22, a P/E/G ratio of 2.76 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 business has a 50-day simple moving average of $763.75 and a 200-day simple moving average of $672.00.

Intuit (NASDAQ:INTU - Get Free Report) last posted its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.89 by $0.76. The company 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%. Intuit's quarterly revenue was up 15.1% on a year-over-year basis. During the same period last year, the firm earned $9.88 earnings per share. On average, analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current fiscal 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 given 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 presently 33.77%.

Insider Buying and Selling at Intuit

In other Intuit news, CFO Sandeep Aujla sold 2,591 shares of Intuit stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $782.22, for a total transaction of $2,026,732.02. Following the sale, the chief financial officer directly owned 768 shares of the company's stock, valued at approximately $600,744.96. The trade was a 77.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Alex G. Balazs sold 882 shares of Intuit stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $781.63, for a total value of $689,397.66. The disclosure for this sale can be found here. In the last 90 days, insiders sold 279,800 shares of company stock worth $209,725,054. Insiders own 2.68% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. upped their target price on Intuit from $660.00 to $770.00 and gave the company an "overweight" rating in a research report on Friday, May 23rd. HSBC raised Intuit from a "hold" rating to a "buy" rating and set a $699.00 price objective for the company in a research note on Wednesday, April 23rd. UBS Group set a $750.00 price target on Intuit and gave the company a "neutral" rating in a research report on Friday, May 23rd. Morgan Stanley increased their price target on Intuit from $785.00 to $900.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. Finally, Stifel Nicolaus increased their target price on shares of Intuit from $725.00 to $850.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $809.86.

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.