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

Stanley Laman Group Ltd. grew its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 502.0% during the first quarter, according to its most recent Form 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 period. Intuit makes up 0.8% of Stanley Laman Group Ltd.'s holdings, making the stock its 27th largest position. Stanley Laman Group Ltd.'s holdings in Intuit were worth $5,323,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of INTU. Everhart Financial Group Inc. lifted its position in Intuit by 5.4% during the first quarter. Everhart Financial Group Inc. now owns 2,499 shares of the software maker's stock valued at $1,534,000 after purchasing an additional 127 shares during the period. Randolph Co Inc purchased a new position in shares of Intuit during the 1st quarter valued at about $28,301,000. Twin Peaks Wealth Advisors LLC lifted its holdings in shares of Intuit by 168.3% in the 1st quarter. Twin Peaks Wealth Advisors LLC now owns 1,607 shares of the software maker's stock valued at $955,000 after buying an additional 1,008 shares during the period. Relyea Zuckerberg Hanson LLC lifted its holdings in shares of Intuit by 10.2% in the 1st quarter. Relyea Zuckerberg Hanson LLC now owns 781 shares of the software maker's stock valued at $480,000 after buying an additional 72 shares during the period. Finally, Verity & Verity LLC purchased a new stake in shares of Intuit in the first quarter worth about $402,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

INTU has been the subject of a number of analyst reports. HSBC raised Intuit from a "hold" rating to a "buy" rating and set a $699.00 price target for the company in a report on Wednesday, April 23rd. KeyCorp reiterated an "overweight" rating and issued a $850.00 target price (up from $770.00) on shares of Intuit in a research note on Friday, May 23rd. Scotiabank raised shares of Intuit from a "sector perform" rating to a "sector outperform" rating and increased their price target for the stock from $600.00 to $700.00 in a report on Thursday, April 17th. Citigroup reaffirmed a "buy" rating and issued a $789.00 price objective (up previously from $726.00) on shares of Intuit in a report on Friday, May 23rd. Finally, Hsbc Global Res upgraded shares of Intuit from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Intuit presently has a consensus rating of "Moderate Buy" and an average target price of $787.95.

Insider Transactions at Intuit

In other news, insider Scott D. Cook sold 62,816 shares of Intuit stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $765.99, for a total transaction of $48,116,427.84. Following the sale, the insider now owns 6,000,679 shares of the company's stock, valued at approximately $4,596,460,107.21. The trade was a 1.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eve B. Burton sold 1,702 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total value of $1,021,200.00. Following the completion of the transaction, the director now owns 8 shares in the company, valued at $4,800. This represents a 99.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 288,408 shares of company stock worth $213,441,865 in the last quarter. Company insiders own 2.68% of the company's stock.

Intuit Price Performance

INTU stock traded down $12.23 during midday trading on Friday, reaching $753.98. The stock had a trading volume of 1,148,047 shares, compared to its average volume of 1,609,672. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $773.45. The company has a market cap of $210.32 billion, a price-to-earnings ratio of 73.20, a price-to-earnings-growth ratio of 2.85 and a beta of 1.28. The company's fifty day simple moving average is $660.65 and its 200 day simple moving average is $629.50. The company has a current ratio of 1.24, a quick 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 (EPS) for the quarter, beating the consensus estimate of $10.89 by $0.76. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.56 billion. During the same quarter in the prior year, the company earned $9.88 EPS. Intuit's revenue was up 15.1% compared to the same quarter last year. As a group, sell-side analysts predict that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The business 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 annualized dividend and a yield of 0.55%. The ex-dividend date is Thursday, July 10th. Intuit's payout ratio is currently 33.77%.

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.