S Bank Fund Management Ltd Acquires New Shares in Intuit Inc. (NASDAQ:INTU)

Key Points

• S Bank Fund Management Ltd acquired 9,595 shares of Intuit Inc. valued at approximately $5,891,000 in the first quarter, marking the company's growing institutional interest.
• Intuit reported earnings of $11.65 per share for the most recent quarter, exceeding estimates, with a 15.1% increase in revenue compared to the previous year.
• The company's stock has a market capitalization of $199.03 billion and recently experienced a price target increase by various analysts, with estimates ranging up to $900.00.

S Bank Fund Management Ltd purchased a new stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,595 shares of the software maker's stock, valued at approximately $5,891,000.

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

Intuit Price Performance

Intuit stock traded down $1.07 during mid-day trading on Thursday, reaching $710.64. 1,240,965 shares of the company were exchanged, compared to its average volume of 1,609,849. The company has a fifty day simple moving average of $764.85 and a 200-day simple moving average of $670.19. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $813.70. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45. The firm has a market cap of $198.23 billion, a PE ratio of 57.68, a PEG ratio of 2.74 and a beta of 1.28.

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, 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 firm had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same quarter last year, the company earned $9.88 EPS. The company's revenue was up 15.1% on a year-over-year basis. As a group, equities research analysts expect that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 10th were issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis 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%.

Insider Transactions at Intuit

In other Intuit news, Director Richard L. Dalzell sold 333 shares of the firm's stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $768.43, for a total value of $255,887.19. Following the sale, the director owned 15,474 shares of the company's stock, valued at approximately $11,890,685.82. This trade represents a 2.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Sandeep Aujla sold 2,591 shares of the firm's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $782.22, for a total value of $2,026,732.02. Following the completion of the sale, the chief financial officer directly owned 768 shares in the company, valued at approximately $600,744.96. This represents a 77.14% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 279,800 shares of company stock worth $209,725,054. 2.68% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have issued reports on INTU shares. Susquehanna restated a "positive" rating on shares of Intuit in a research note on Friday, May 23rd. Jefferies Financial Group set a $850.00 price objective on Intuit and gave the company a "buy" rating in a research note on Friday, May 23rd. Barclays restated an "overweight" rating and issued a $815.00 price objective (up previously from $775.00) on shares of Intuit in a research note on Friday, May 23rd. Hsbc Global Res upgraded Intuit from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. increased their target price on 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 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, Intuit presently has a consensus rating of "Moderate Buy" and a consensus price target of $806.27.

Intuit 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.