Prudential PLC Purchases 1,167 Shares of Intuit Inc. (NASDAQ:INTU)

Key Points

• Prudential PLC has increased its stake in Intuit Inc. by 3.4%, holding 35,208 shares valued at approximately $21.62 million as of the latest SEC filing.
• Insider sales at Intuit include 25,648 shares sold by EVP Laura A. Fennell, representing a 52.94% decrease in her position, and an additional sale of 16,700 shares by EVP Kerry J. Mclean, indicating significant insider activity.
• Intuit's earnings report revealed a 15.1% year-over-year revenue increase with earnings per share of $11.65, exceeding expectations and contributing to a market capitalization of about $196.96 billion.

Prudential PLC raised its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 3.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,208 shares of the software maker's stock after buying an additional 1,167 shares during the quarter. Prudential PLC's holdings in Intuit were worth $21,617,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Intuit by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 27,330,309 shares of the software maker's stock worth $16,780,536,000 after purchasing an additional 294,993 shares during the last quarter. Brown Advisory Inc. lifted its position in Intuit by 7.9% during the 1st quarter. Brown Advisory Inc. now owns 3,444,600 shares of the software maker's stock worth $2,114,950,000 after buying an additional 252,265 shares in the last quarter. Northern Trust Corp lifted its position in Intuit by 17.3% during the 4th quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker's stock worth $2,118,682,000 after buying an additional 498,030 shares in the last quarter. Invesco Ltd. lifted its position in Intuit by 1.2% during the 1st quarter. Invesco Ltd. now owns 3,078,686 shares of the software maker's stock worth $1,890,282,000 after buying an additional 36,513 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Intuit by 33.5% during 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 worth $1,930,765,000 after buying an additional 771,232 shares in the last quarter. Institutional investors own 83.66% of the company's stock.

Wall Street Analysts Forecast Growth

INTU has been the topic of several research reports. Susquehanna reiterated a "positive" rating on shares of Intuit in a research report on Friday, May 23rd. JPMorgan Chase & Co. upped their price target on shares of Intuit from $660.00 to $770.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. Barclays restated an "overweight" rating and set a $815.00 target price (up from $775.00) on shares of Intuit in a research report on Friday, May 23rd. CLSA assumed coverage on shares of Intuit in a research report on Thursday, June 26th. They set an "outperform" rating and a $900.00 target price on the stock. Finally, Hsbc Global Res upgraded shares of Intuit from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. One research 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 company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $806.27.

Insider Activity at Intuit

In other news, EVP Kerry J. Mclean sold 16,700 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $729.16, for a total transaction of $12,176,972.00. Following the completion of the transaction, the executive vice president directly owned 23,101 shares of the company's stock, valued at $16,844,325.16. This trade represents a 41.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott D. Cook sold 72,442 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was 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 of the company's stock, valued at $4,494,808,208.55. This represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 279,800 shares of company stock worth $209,725,054. 2.68% of the stock is currently owned by corporate insiders.

Intuit Trading Down 0.2%

Shares of NASDAQ:INTU traded down $1.77 during mid-day trading on Wednesday, reaching $711.71. The stock had a trading volume of 1,602,299 shares, compared to its average volume of 1,592,884. The firm has a 50 day simple moving average of $765.97 and a two-hundred day simple moving average of $669.47. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $813.70. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29. The firm has a market cap of $198.53 billion, a PE ratio of 57.77, a price-to-earnings-growth ratio of 2.75 and a beta of 1.28.

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 analysts' consensus estimates of $10.89 by $0.76. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The business had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.56 billion. During the same period in the prior year, the business earned $9.88 EPS. Intuit's revenue for the quarter was up 15.1% compared to the same quarter last year. On average, research analysts predict that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 10th were paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, July 10th. Intuit's dividend payout ratio (DPR) 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.