Vest Financial LLC Grows Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Vest Financial LLC lifted its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 65.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,008 shares of the software maker's stock after buying an additional 1,975 shares during the period. Vest Financial LLC's holdings in Intuit were worth $3,075,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Brighton Jones LLC raised its stake in shares of Intuit by 61.3% during the fourth quarter. Brighton Jones LLC now owns 3,552 shares of the software maker's stock worth $2,233,000 after acquiring an additional 1,350 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in Intuit in the 4th quarter worth $104,278,000. Revolve Wealth Partners LLC raised its position in Intuit by 145.6% in the 4th quarter. Revolve Wealth Partners LLC now owns 813 shares of the software maker's stock worth $511,000 after purchasing an additional 482 shares during the period. Stratos Wealth Advisors LLC raised its position in Intuit by 5.7% in the 4th quarter. Stratos Wealth Advisors LLC now owns 2,241 shares of the software maker's stock worth $1,409,000 after purchasing an additional 121 shares during the period. Finally, YANKCOM Partnership purchased a new position in Intuit in the 4th quarter worth $180,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on INTU. BMO Capital Markets reiterated an "outperform" rating and issued a $820.00 price objective (up previously from $714.00) on shares of Intuit in a report on Friday, May 23rd. KeyCorp reaffirmed an "overweight" rating and issued a $850.00 price target (up from $770.00) on shares of Intuit in a research note on Friday, May 23rd. Stifel Nicolaus lifted their price target on Intuit from $725.00 to $850.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. The Goldman Sachs Group lifted their price target on Intuit from $750.00 to $860.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. Finally, Susquehanna reaffirmed a "positive" rating on shares of Intuit in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Intuit currently has an average rating of "Moderate Buy" and a consensus price target of $785.33.

Intuit Price Performance

Shares of NASDAQ INTU opened at $771.58 on Friday. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $773.45. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The company's 50-day moving average is $646.24 and its 200 day moving average is $626.38. The stock has a market capitalization of $215.23 billion, a P/E ratio of 74.91, a P/E/G ratio of 2.85 and a beta of 1.28.

Intuit (NASDAQ:INTU - Get Free Report) last announced its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $7.56 billion. During the same quarter in the previous year, the company earned $9.88 earnings per share. Intuit's quarterly revenue was up 15.1% on a year-over-year basis. On average, sell-side analysts expect that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be paid a $1.04 dividend. 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%.

Insider Buying and Selling

In other news, CFO Sandeep Aujla sold 16,061 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $726.13, for a total value of $11,662,373.93. Following the sale, the chief financial officer now directly owns 197 shares of the company's stock, valued at $143,047.61. This represents a 98.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Alex G. Balazs sold 1,459 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $770.80, for a total transaction of $1,124,597.20. The disclosure for this sale can be found here. Insiders have sold a total of 225,592 shares of company stock valued at $165,325,437 over the last ninety days. Company insiders own 2.68% of the company's stock.

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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