Sovran Advisors LLC Acquires 1,044 Shares of Intuit Inc. (NASDAQ:INTU)

Sovran Advisors LLC grew its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 261.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,444 shares of the software maker's stock after acquiring an additional 1,044 shares during the quarter. Sovran Advisors LLC's holdings in Intuit were worth $845,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. NewSquare Capital LLC boosted its stake in Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock valued at $27,000 after purchasing an additional 18 shares during the last quarter. Ethos Financial Group LLC raised its holdings in shares of Intuit by 3.7% during the fourth quarter. Ethos Financial Group LLC now owns 508 shares of the software maker's stock valued at $319,000 after purchasing an additional 18 shares during the last quarter. Legacy Investment Solutions LLC raised its holdings in shares of Intuit by 18.0% during the fourth quarter. Legacy Investment Solutions LLC now owns 118 shares of the software maker's stock valued at $68,000 after purchasing an additional 18 shares during the last quarter. Financial Management Professionals Inc. lifted its position in Intuit by 18.4% during the first quarter. Financial Management Professionals Inc. now owns 116 shares of the software maker's stock valued at $71,000 after purchasing an additional 18 shares during the period. Finally, Chris Bulman Inc boosted its holdings in Intuit by 1.2% in the first quarter. Chris Bulman Inc now owns 1,523 shares of the software maker's stock worth $935,000 after purchasing an additional 18 shares during the last quarter. Institutional investors own 83.66% of the company's stock.

Insider Buying and Selling at Intuit

In other Intuit news, CAO Lauren D. Hotz sold 1,738 shares of the firm's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $784.09, for a total transaction of $1,362,748.42. Following the completion of the transaction, the chief accounting officer now owns 455 shares in the company, valued at $356,760.95. This trade represents a 79.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Alex G. Balazs sold 1,459 shares of Intuit stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $770.80, for a total value of $1,124,597.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 272,896 shares of company stock worth $204,351,942. Insiders own 2.68% of the company's stock.

Intuit Stock Up 0.5%

Shares of INTU stock opened at $776.57 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45. Intuit Inc. has a one year low of $532.65 and a one year high of $787.22. The company's fifty day moving average price is $700.54 and its 200-day moving average price is $638.14. The company has a market capitalization of $216.62 billion, a price-to-earnings ratio of 63.03, a PEG ratio of 3.45 and a beta of 1.28.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly 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 analyst estimates of $7.56 billion. During the same quarter in the prior year, the business posted $9.88 EPS. Intuit's revenue for the quarter was up 15.1% compared to the same quarter last year. Sell-side analysts expect that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Scotiabank upgraded shares of Intuit from a "sector perform" rating to a "sector outperform" rating and boosted their target price for the company from $600.00 to $700.00 in a research note on Thursday, April 17th. Citigroup restated a "buy" rating and issued a $789.00 price target (up from $726.00) on shares of Intuit in a research note on Friday, May 23rd. Barclays reiterated an "overweight" rating and set a $815.00 price objective (up previously from $775.00) on shares of Intuit in a research report on Friday, May 23rd. Hsbc Global Res raised Intuit from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 23rd. Finally, Susquehanna reissued a "positive" rating on shares of Intuit in a research report on Friday, May 23rd. One equities research 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 given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $793.05.

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.

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