Verity Asset Management Inc. Has $722,000 Holdings in Intuit Inc. (NASDAQ:INTU)

Verity Asset Management Inc. grew its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 113.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,176 shares of the software maker's stock after buying an additional 624 shares during the period. Verity Asset Management Inc.'s holdings in Intuit were worth $722,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in INTU. Brighton Jones LLC increased its holdings in shares of Intuit by 61.3% in the fourth quarter. Brighton Jones LLC now owns 3,552 shares of the software maker's stock valued at $2,233,000 after purchasing an additional 1,350 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in shares of Intuit by 145.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 813 shares of the software maker's stock worth $511,000 after buying an additional 482 shares during the period. Bank Pictet & Cie Europe AG boosted its holdings in shares of Intuit by 14.2% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 1,992 shares of the software maker's stock worth $1,252,000 after buying an additional 248 shares during the period. Kovack Advisors Inc. grew its stake in Intuit by 12.7% in the 4th quarter. Kovack Advisors Inc. now owns 443 shares of the software maker's stock valued at $279,000 after buying an additional 50 shares during the last quarter. Finally, Purkiss Capital Advisors LLC bought a new position in Intuit in the 4th quarter valued at about $277,000. 83.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on INTU shares. Susquehanna restated a "positive" rating on shares of Intuit in a report on Friday, May 23rd. CLSA began coverage on Intuit in a research note on Thursday. They issued an "outperform" rating and a $900.00 price target for the company. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $850.00 price objective (up from $760.00) on shares of Intuit in a report on Friday, May 23rd. Barclays reissued an "overweight" rating and set a $815.00 target price (up previously from $775.00) on shares of Intuit in a report on Friday, May 23rd. Finally, Wells Fargo & Company set a $880.00 price target on shares of Intuit and gave the company an "overweight" rating in a research note on Friday, June 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Intuit presently has a consensus rating of "Moderate Buy" and an average price target of $793.05.

Insiders Place Their Bets

In related news, insider Scott D. Cook sold 72,442 shares of the firm's stock in a transaction that occurred on 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 now owns 6,063,495 shares in the company, valued at $4,494,808,208.55. This trade represents a 1.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Lauren D. Hotz sold 1,738 shares of Intuit 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 sale, the chief accounting officer now owns 455 shares in the company, valued at approximately $356,760.95. This represents a 79.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 272,896 shares of company stock valued at $204,351,942. 2.68% of the stock is currently owned by insiders.

Intuit Trading Up 0.5%

Shares of INTU opened at $776.57 on Monday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $787.22. The firm has a market cap of $216.62 billion, a price-to-earnings ratio of 63.03, a PEG ratio of 3.45 and a beta of 1.28. The business's fifty day moving average is $700.54 and its 200-day moving average is $638.14.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, beating the consensus estimate of $10.89 by $0.76. The business had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. Intuit had a return on equity of 21.46% and a net margin of 19.07%. Intuit's revenue was up 15.1% compared to the same quarter last year. During the same period last year, the firm posted $9.88 earnings per share. Equities analysts anticipate that Intuit Inc. will post 14.09 EPS 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 paid a dividend of $1.04 per share. The ex-dividend date is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.54%. Intuit's payout ratio is presently 33.77%.

Intuit Company 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.

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