LSV Asset Management Invests $1.68 Million in Intuit Inc. (INTU) Stock

LSV Asset Management bought a new stake in shares of Intuit Inc. (NASDAQ:INTU) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 7,373 shares of the software maker’s stock, valued at approximately $1,676,000.

A number of other hedge funds have also made changes to their positions in the business. Oakworth Capital Inc. increased its stake in shares of Intuit by 2,480.0% in the third quarter. Oakworth Capital Inc. now owns 516 shares of the software maker’s stock worth $117,000 after purchasing an additional 496 shares in the last quarter. Fort L.P. bought a new position in shares of Intuit during the second quarter worth $120,000. Willingdon Wealth Management bought a new position in shares of Intuit during the third quarter worth $121,000. Financial Gravity Wealth Inc. boosted its position in shares of Intuit by 65.0% during the third quarter. Financial Gravity Wealth Inc. now owns 609 shares of the software maker’s stock worth $122,000 after acquiring an additional 240 shares during the last quarter. Finally, Qube Research & Technologies Ltd boosted its position in shares of Intuit by 160.1% during the second quarter. Qube Research & Technologies Ltd now owns 606 shares of the software maker’s stock worth $124,000 after acquiring an additional 373 shares during the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

INTU has been the subject of a number of research reports. BidaskClub upgraded shares of Intuit from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 31st. Credit Suisse Group upped their target price on shares of Intuit from $215.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday, August 24th. Guggenheim initiated coverage on shares of Intuit in a research report on Tuesday, August 7th. They set a “buy” rating and a $250.00 target price for the company. Deutsche Bank dropped their target price on shares of Intuit from $265.00 to $250.00 and set a “buy” rating for the company in a research report on Tuesday, November 20th. Finally, Barclays upped their target price on shares of Intuit from $204.00 to $219.00 and gave the stock an “equal weight” rating in a research report on Friday, September 7th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $221.88.

INTU stock opened at $197.05 on Monday. Intuit Inc. has a 52 week low of $150.43 and a 52 week high of $231.84. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.41 and a quick ratio of 1.41. The firm has a market cap of $51.14 billion, a price-to-earnings ratio of 43.50, a price-to-earnings-growth ratio of 2.30 and a beta of 1.19.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Monday, November 19th. The software maker reported $0.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.18. Intuit had a net margin of 20.71% and a return on equity of 56.35%. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $971.45 million. During the same quarter last year, the business earned $0.11 earnings per share. Intuit’s quarterly revenue was up 11.6% compared to the same quarter last year. Research analysts anticipate that Intuit Inc. will post 5.27 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 18th. Shareholders of record on Thursday, January 10th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Wednesday, January 9th. This represents a $1.88 annualized dividend and a yield of 0.95%. Intuit’s dividend payout ratio (DPR) is currently 41.50%.

In other news, VP Mark J. Flournoy sold 9,292 shares of the firm’s stock in a transaction dated Thursday, August 30th. The shares were sold at an average price of $218.90, for a total value of $2,034,018.80. Following the completion of the sale, the vice president now owns 2,471 shares in the company, valued at approximately $540,901.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dennis D. Powell sold 4,554 shares of the firm’s stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $215.05, for a total transaction of $979,337.70. Following the completion of the sale, the director now owns 4,083 shares of the company’s stock, valued at approximately $878,049.15. The disclosure for this sale can be found here. Insiders have sold 490,840 shares of company stock valued at $110,072,108 in the last quarter. 4.60% of the stock is owned by company insiders.

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Intuit Company Profile

Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.

Further Reading: Short Selling

Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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