Intuit Inc. $INTU is Sei Investments Co.'s 8th Largest Position

Key Points

• Sei Investments Co. reduced its holdings in Intuit Inc. by 0.1%, ending the first quarter with $209.15 million worth of shares, representing about 2.0% of its investment portfolio.
• Intuit's stock has recently received multiple upgrades from brokerages, with analysts giving it an average rating of "Moderate Buy" and a consensus price target of $806.27.
• The company reported a significant earnings per share of $11.65 for the last quarter, exceeding expectations and enjoying a year-over-year revenue increase of 15.1%.

Sei Investments Co. reduced its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 0.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 334,105 shares of the software maker's stock after selling 447 shares during the quarter. Intuit comprises approximately 2.0% of Sei Investments Co.'s portfolio, making the stock its 8th biggest holding. Sei Investments Co. owned approximately 0.12% of Intuit worth $209,148,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Intuit by 1.1% during the first 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 period. Brown Advisory Inc. lifted its position in shares of Intuit by 7.9% in the 1st quarter. Brown Advisory Inc. now owns 3,444,600 shares of the software maker's stock worth $2,114,950,000 after purchasing an additional 252,265 shares during the period. Northern Trust Corp raised its position in shares of Intuit by 17.3% in the 4th quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker's stock worth $2,118,682,000 after acquiring an additional 498,030 shares in the last quarter. Invesco Ltd. grew its stake in Intuit by 1.2% in the first quarter. Invesco Ltd. now owns 3,078,686 shares of the software maker's stock worth $1,890,282,000 after purchasing an additional 36,513 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Intuit by 33.5% during the fourth 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 period. 83.66% of the stock is currently owned by institutional investors.

Intuit Price Performance

INTU stock traded up $0.47 during trading on Monday, reaching $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 quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29. The company's fifty day moving average is $763.75 and its 200-day moving average is $672.00. The company has a market capitalization of $200.06 billion, a P/E ratio of 58.22, a price-to-earnings-growth ratio of 2.76 and a beta of 1.28. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $813.70.

Intuit (NASDAQ:INTU - Get Free Report) last released its earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, topping the consensus estimate of $10.89 by $0.76. The firm had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The company's quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $9.88 earnings per share. On average, research analysts expect that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The firm 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. The ex-dividend date was Thursday, July 10th. This represents a $4.16 annualized dividend and a yield of 0.6%. Intuit's dividend payout ratio (DPR) is 33.77%.

Insider Buying and Selling at Intuit

In related news, insider Scott D. Cook sold 72,442 shares of the stock in a transaction dated 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 completion of the transaction, the insider owned 6,063,495 shares of the company's stock, valued at approximately $4,494,808,208.55. This trade represents a 1.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Marianna Tessel sold 34,329 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $760.84, for a total value of $26,118,876.36. Following the completion of the sale, the executive vice president directly owned 40,767 shares of the company's stock, 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. Insiders have sold 279,800 shares of company stock valued at $209,725,054 over the last ninety days. Corporate insiders own 2.68% of the company's stock.

Analyst Ratings Changes

INTU has been the topic of a number of recent research reports. Citigroup upped their target price on shares of Intuit from $789.00 to $815.00 and gave the stock a "buy" rating in a research report on Friday. Hsbc Global Res raised Intuit from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. Susquehanna reiterated a "positive" rating on shares of Intuit in a research note on Friday, May 23rd. Bank of America increased their target price on Intuit from $730.00 to $875.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Finally, The Goldman Sachs Group lifted their price target on Intuit from $750.00 to $860.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. One equities research 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 given a strong buy rating to the company's stock. Based on data from MarketBeat, Intuit presently has an average rating of "Moderate Buy" and a consensus price target of $809.86.

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.