GAMMA Investing LLC Purchases Shares of 1,449 Intuit Inc. (NASDAQ:INTU)

GAMMA Investing LLC purchased a new stake in Intuit Inc. (NASDAQ:INTU - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,449 shares of the software maker's stock, valued at approximately $915,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of INTU. Linden Thomas Advisory Services LLC grew its holdings in shares of Intuit by 10.1% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 6,131 shares of the software maker's stock valued at $3,832,000 after buying an additional 564 shares during the last quarter. Community Bank & Trust Waco Texas boosted its holdings in Intuit by 5.6% during the fourth quarter. Community Bank & Trust Waco Texas now owns 1,463 shares of the software maker's stock worth $914,000 after purchasing an additional 77 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in Intuit by 17.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,123 shares of the software maker's stock worth $702,000 after purchasing an additional 170 shares during the last quarter. Larson Financial Group LLC boosted its holdings in Intuit by 452.4% during the fourth quarter. Larson Financial Group LLC now owns 116 shares of the software maker's stock worth $73,000 after purchasing an additional 95 shares during the last quarter. Finally, California Public Employees Retirement System boosted its holdings in Intuit by 13.4% during the fourth quarter. California Public Employees Retirement System now owns 587,744 shares of the software maker's stock worth $367,358,000 after purchasing an additional 69,430 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the sale, the executive vice president now owns 22,948 shares of the company's stock, valued at approximately $15,233,800.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the completion of the transaction, the executive vice president now directly owns 22,948 shares of the company's stock, valued at approximately $15,233,800.32. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Lauren D. Hotz sold 745 shares of Intuit stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $655.13, for a total transaction of $488,071.85. Following the transaction, the chief accounting officer now directly owns 3,180 shares of the company's stock, valued at $2,083,313.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,717 shares of company stock valued at $3,117,156. Corporate insiders own 2.90% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on INTU shares. Wells Fargo & Company boosted their price target on shares of Intuit from $615.00 to $710.00 and gave the stock an "overweight" rating in a report on Wednesday, February 21st. Stifel Nicolaus boosted their price target on shares of Intuit from $600.00 to $720.00 and gave the stock a "buy" rating in a report on Friday, February 23rd. StockNews.com lowered shares of Intuit from a "buy" rating to a "hold" rating in a research report on Monday. Mizuho boosted their price target on shares of Intuit from $670.00 to $725.00 and gave the company a "buy" rating in a research report on Friday, February 23rd. Finally, Barclays boosted their price target on shares of Intuit from $735.00 to $745.00 and gave the company an "overweight" rating in a research report on Friday, February 23rd. Five investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $645.00.

Intuit Price Performance

Shares of NASDAQ:INTU traded up $21.11 during trading on Tuesday, reaching $630.88. The company had a trading volume of 1,457,840 shares, compared to its average volume of 1,248,993. The company has a fifty day moving average of $641.98 and a two-hundred day moving average of $600.94. The stock has a market capitalization of $176.65 billion, a P/E ratio of 64.38, a price-to-earnings-growth ratio of 3.68 and a beta of 1.21. Intuit Inc. has a 12 month low of $400.22 and a 12 month high of $671.01. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35.

Intuit (NASDAQ:INTU - Get Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.33. The business had revenue of $3.39 billion during the quarter, compared to analysts' expectations of $3.39 billion. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The firm's revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.05 EPS. Equities research analysts forecast that Intuit Inc. will post 11.27 earnings per share for the current year.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th were paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend was Tuesday, April 9th. Intuit's payout ratio is 36.73%.

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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