Verde Capital Management Buys 462 Shares of Intuit Inc. (NASDAQ:INTU)

Verde Capital Management lifted its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 39.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,631 shares of the software maker's stock after purchasing an additional 462 shares during the quarter. Verde Capital Management's holdings in Intuit were worth $1,001,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. R Squared Ltd purchased a new position in Intuit during the fourth quarter worth about $25,000. Copia Wealth Management purchased a new position in shares of Intuit in the 4th quarter worth approximately $25,000. NewSquare Capital LLC grew its holdings in shares of Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock valued at $27,000 after acquiring an additional 18 shares in the last quarter. Summit Securities Group LLC purchased a new stake in shares of Intuit during the fourth quarter valued at approximately $28,000. Finally, Heck Capital Advisors LLC purchased a new position in Intuit in the fourth quarter worth $28,000. Institutional investors own 83.66% of the company's stock.

Insider Activity

In other Intuit news, Director Eve B. Burton sold 1,702 shares of Intuit stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the transaction, the director now directly owns 8 shares of the company's stock, valued at approximately $4,800. This trade represents a 99.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Sandeep Aujla sold 16,061 shares of Intuit stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $726.13, for a total transaction of $11,662,373.93. Following the completion of the transaction, the chief financial officer now owns 197 shares in the company, valued at approximately $143,047.61. The trade was a 98.79% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 189,804 shares of company stock worth $138,081,963. 2.68% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on INTU shares. Royal Bank of Canada reiterated an "outperform" rating and set a $850.00 target price (up from $760.00) on shares of Intuit in a research note on Friday, May 23rd. Barclays reaffirmed an "overweight" rating and issued a $815.00 price target (up previously from $775.00) on shares of Intuit in a report on Friday, May 23rd. The Goldman Sachs Group increased their price objective on Intuit from $750.00 to $860.00 and gave the company a "buy" rating in a report on Monday, May 19th. Morgan Stanley restated an "overweight" rating and issued a $785.00 target price (up from $720.00) on shares of Intuit in a research note on Friday, May 23rd. Finally, Jefferies Financial Group set a $850.00 price target on Intuit and gave the stock a "buy" rating in a research note on Friday, May 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 given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $785.33.

Intuit Price Performance

Intuit stock traded up $11.52 during midday trading on Monday, hitting $764.99. 1,869,993 shares of the company's stock were exchanged, compared to its average volume of 1,620,347. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $769.00. The stock has a 50-day moving average price of $630.69 and a two-hundred day moving average price of $622.38. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market cap of $213.39 billion, a P/E ratio of 74.27, a PEG ratio of 2.85 and a beta of 1.24.

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, beating analysts' consensus estimates of $10.89 by $0.76. The firm had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company's revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter last year, the company posted $9.88 EPS. On average, equities research analysts forecast that Intuit Inc. will post 14.09 earnings per share 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. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend 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.