Stanley Laman Group Ltd. Grows Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Stanley Laman Group Ltd. increased its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 502.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,669 shares of the software maker's stock after purchasing an additional 7,229 shares during the quarter. Intuit makes up approximately 0.8% of Stanley Laman Group Ltd.'s investment portfolio, making the stock its 27th biggest position. Stanley Laman Group Ltd.'s holdings in Intuit were worth $5,323,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Copia Wealth Management purchased a new position in Intuit during the 4th quarter valued at approximately $25,000. NewSquare Capital LLC grew its holdings 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 buying an additional 18 shares in the last quarter. Summit Securities Group LLC purchased a new position in Intuit during the 4th quarter valued at approximately $28,000. Heck Capital Advisors LLC purchased a new position in Intuit in the fourth quarter worth about $28,000. Finally, VSM Wealth Advisory LLC purchased a new position in Intuit in the fourth quarter worth about $35,000. 83.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on INTU shares. Hsbc Global Res upgraded Intuit from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. HSBC upgraded Intuit from a "hold" rating to a "buy" rating and set a $699.00 target price for the company in a research report on Wednesday, April 23rd. Morgan Stanley restated an "overweight" rating and set a $785.00 target price (up previously from $720.00) on shares of Intuit in a research report on Friday, May 23rd. Jefferies Financial Group set a $850.00 target price on Intuit and gave the company a "buy" rating in a research report on Friday, May 23rd. Finally, Barclays restated an "overweight" rating and set a $815.00 target price (up previously from $775.00) on shares of Intuit in a research report on Friday, May 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Intuit presently has an average rating of "Moderate Buy" and a consensus price target of $787.95.

Intuit Stock Down 1.6%

INTU stock traded down $12.23 during midday trading on Friday, hitting $753.98. The company's stock had a trading volume of 1,148,047 shares, compared to its average volume of 1,609,674. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $773.45. The firm has a 50-day simple moving average of $664.85 and a 200-day simple moving average of $630.29. The firm has a market capitalization of $210.32 billion, a P/E ratio of 73.20, a PEG ratio of 2.85 and a beta of 1.28. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, beating analysts' consensus estimates of $10.89 by $0.76. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same period last year, the business earned $9.88 EPS. The company's revenue was up 15.1% on a year-over-year basis. As a group, equities analysts forecast that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be issued a $1.04 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.55%. Intuit's payout ratio is 33.77%.

Insider Activity

In other Intuit news, insider Scott D. Cook sold 72,442 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $741.29, for a total transaction of $53,700,530.18. Following the transaction, the insider now directly owns 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 document filed with the SEC, which is available at the SEC website. Also, EVP Mark P. Notarainni sold 469 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $725.00, for a total transaction of $340,025.00. Following the transaction, the executive vice president now directly owns 19 shares in the company, valued at $13,775. The trade was a 96.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 288,408 shares of company stock worth $213,441,865. 2.68% of the stock is currently owned by corporate insiders.

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.