Quilter Plc Purchases 9,426 Shares of Intuit Inc. (NASDAQ:INTU)

Quilter Plc lifted its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 5.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 172,514 shares of the software maker's stock after purchasing an additional 9,426 shares during the period. Intuit accounts for approximately 2.2% of Quilter Plc's portfolio, making the stock its 16th largest position. Quilter Plc owned 0.06% of Intuit worth $105,922,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of INTU. Copia Wealth Management bought a new position in Intuit in the 4th quarter worth $25,000. NewSquare Capital LLC increased its position 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 buying an additional 18 shares during the period. Summit Securities Group LLC bought a new position in Intuit in the fourth quarter worth about $28,000. Heck Capital Advisors LLC purchased a new stake in Intuit in the fourth quarter worth about $28,000. Finally, VSM Wealth Advisory LLC bought a new stake in Intuit during the 4th quarter valued at approximately $35,000. 83.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Oppenheimer reissued an "outperform" rating and issued a $742.00 target price (up previously from $642.00) on shares of Intuit in a research report on Friday, May 23rd. Citigroup reissued a "buy" rating and set a $789.00 price objective (up previously from $726.00) on shares of Intuit in a research report on Friday, May 23rd. HSBC upgraded shares of Intuit from a "hold" rating to a "buy" rating and set a $699.00 target price on the stock in a report on Wednesday, April 23rd. Stifel Nicolaus increased their price target on shares of Intuit from $725.00 to $850.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Intuit from $660.00 to $770.00 and gave the stock an "overweight" rating in a research note on Friday, May 23rd. One investment 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's stock. According to data from MarketBeat.com, Intuit presently has a consensus rating of "Moderate Buy" and a consensus price target of $793.05.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $772.86 on Friday. 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 firm has a market cap of $215.59 billion, a price-to-earnings ratio of 62.73, a price-to-earnings-growth ratio of 3.37 and a beta of 1.28. The business has a 50-day simple moving average of $696.71 and a two-hundred day simple moving average of $637.71. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $774.80.

Intuit (NASDAQ:INTU - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, topping 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 firm had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.56 billion. During the same period in the previous year, the business posted $9.88 earnings per share. The business's revenue for the quarter was up 15.1% on a year-over-year basis. On average, analysts expect that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 10th will be issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit's dividend payout ratio is 33.77%.

Insiders Place Their Bets

In other news, EVP Mark P. Notarainni sold 469 shares of the business'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 completion of the sale, the executive vice president now owns 19 shares of the company's stock, valued at $13,775. The trade was a 96.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Scott D. Cook sold 72,442 shares of Intuit stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $741.29, for a total value of $53,700,530.18. Following the transaction, the insider now owns 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 271,158 shares of company stock valued at $202,989,194. Insiders own 2.68% of the company's stock.

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.

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