Prescott Group Capital Management L.L.C. Invests $285,000 in Intuit Inc. (NASDAQ:INTU)

Key Points

• Prescott Group Capital Management has acquired a new position in Intuit Inc., purchasing 464 shares valued at approximately $285,000.
• Intuit reported strong quarterly earnings with an EPS of $11.65, beating expectations, and a year-over-year revenue increase of 15.1%.
• Several analysts have raised their price targets for Intuit, with Bank of America increasing theirs to $875.00, reflecting a positive outlook on the stock.

Prescott Group Capital Management L.L.C. purchased a new position in Intuit Inc. (NASDAQ:INTU - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 464 shares of the software maker's stock, valued at approximately $285,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Baillie Gifford & Co. boosted its holdings in shares of Intuit by 32.0% in the 1st quarter. Baillie Gifford & Co. now owns 129,759 shares of the software maker's stock worth $79,671,000 after buying an additional 31,476 shares during the last quarter. Drive Wealth Management LLC boosted its holdings in shares of Intuit by 86.6% in the 1st quarter. Drive Wealth Management LLC now owns 1,418 shares of the software maker's stock worth $871,000 after buying an additional 658 shares during the last quarter. Trilogy Capital Inc. boosted its holdings in shares of Intuit by 4.6% in the 1st quarter. Trilogy Capital Inc. now owns 3,563 shares of the software maker's stock worth $2,188,000 after buying an additional 156 shares during the last quarter. Avantax Advisory Services Inc. boosted its holdings in shares of Intuit by 6.3% in the 1st quarter. Avantax Advisory Services Inc. now owns 25,829 shares of the software maker's stock worth $15,859,000 after buying an additional 1,527 shares during the last quarter. Finally, Lifeworks Advisors LLC boosted its holdings in shares of Intuit by 56.1% in the 1st quarter. Lifeworks Advisors LLC now owns 501 shares of the software maker's stock worth $307,000 after buying an additional 180 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Price Performance

INTU traded up $4.57 on Tuesday, reaching $803.30. The company had a trading volume of 711,406 shares, compared to its average volume of 1,770,767. The business has a 50 day simple moving average of $757.95 and a 200 day simple moving average of $657.44. The company has a market cap of $224.08 billion, a price-to-earnings ratio of 65.17, a P/E/G ratio of 3.49 and a beta of 1.27. 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 Inc. has a 52-week low of $532.65 and a 52-week high of $807.93.

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, 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 business had revenue of $7.75 billion for the quarter, compared to analysts' expectations of $7.56 billion. During the same period last year, the business earned $9.88 earnings per share. The business's quarterly revenue was up 15.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend was Thursday, July 10th. Intuit's payout ratio is currently 33.77%.

Insider Buying and Selling at Intuit

In other Intuit news, insider Scott D. Cook sold 72,442 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $741.29, for a total transaction of $53,700,530.18. Following the transaction, the insider directly owned 6,063,495 shares in the company, valued at $4,494,808,208.55. This trade represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Marianna Tessel sold 34,329 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $760.84, for a total transaction of $26,118,876.36. Following the transaction, the executive vice president owned 40,767 shares in the company, valued at $31,017,164.28. The trade was a 45.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 279,800 shares of company stock valued at $209,725,054. 2.68% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on INTU shares. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $850.00 price objective (up from $760.00) on shares of Intuit in a report on Friday, May 23rd. Wells Fargo & Company set a $880.00 target price on shares of Intuit and gave the stock an "overweight" rating in a research report on Friday, June 13th. Citigroup reiterated a "buy" rating and set a $789.00 target price (up previously from $726.00) on shares of Intuit in a research report on Friday, May 23rd. Jefferies Financial Group set a $850.00 target price on shares of Intuit and gave the stock a "buy" rating in a research report on Friday, May 23rd. Finally, KeyCorp reiterated an "overweight" rating and set a $850.00 target price (up previously from $770.00) on shares of Intuit in a research report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Intuit has an average rating of "Moderate Buy" and an average target price 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.