Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Buys 10,742 Shares of Intuit Inc. (NASDAQ:INTU)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 12.9% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 93,998 shares of the software maker’s stock after purchasing an additional 10,742 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Intuit were worth $21,620,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. BlackRock Inc. grew its position in Intuit by 0.3% during the first quarter. BlackRock Inc. now owns 22,168,702 shares of the software maker’s stock valued at $5,098,802,000 after buying an additional 76,677 shares during the period. State Street Corp grew its position in Intuit by 0.8% during the fourth quarter. State Street Corp now owns 11,251,797 shares of the software maker’s stock valued at $2,947,183,000 after buying an additional 88,399 shares during the period. Edgewood Management LLC grew its position in Intuit by 21.2% during the fourth quarter. Edgewood Management LLC now owns 4,914,250 shares of the software maker’s stock valued at $1,287,190,000 after buying an additional 860,132 shares during the period. Geode Capital Management LLC grew its position in Intuit by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 4,502,032 shares of the software maker’s stock valued at $1,177,103,000 after buying an additional 89,352 shares during the period. Finally, Sands Capital Management LLC grew its position in Intuit by 53.3% during the fourth quarter. Sands Capital Management LLC now owns 3,400,292 shares of the software maker’s stock valued at $890,638,000 after buying an additional 1,181,976 shares during the period. Institutional investors own 86.39% of the company’s stock.

Several equities research analysts have commented on the stock. Citigroup upped their price objective on shares of Intuit from $272.00 to $292.00 and gave the company a “neutral” rating in a report on Friday. Barclays upped their price objective on shares of Intuit from $295.00 to $300.00 and gave the company an “equal weight” rating in a report on Tuesday, February 25th. Morgan Stanley upped their price objective on shares of Intuit from $277.00 to $290.00 and gave the company an “equal weight” rating in a report on Friday. KeyCorp upped their price objective on shares of Intuit from $285.00 to $315.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Cfra downgraded shares of Intuit from a “hold” rating to a “sell” rating in a report on Monday, April 6th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $306.00.

INTU traded down $1.80 on Friday, reaching $288.20. The company had a trading volume of 1,052,378 shares, compared to its average volume of 1,092,816. The business has a 50 day simple moving average of $261.78 and a 200 day simple moving average of $266.07. The company has a market cap of $75.67 billion, a price-to-earnings ratio of 46.42, a P/E/G ratio of 3.90 and a beta of 1.05. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.67 and a current ratio of 1.67. Intuit Inc. has a 52-week low of $187.68 and a 52-week high of $306.89.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, May 21st. The software maker reported $4.49 earnings per share for the quarter, missing analysts’ consensus estimates of $4.60 by ($0.11). The company had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3 billion. Intuit had a net margin of 22.89% and a return on equity of 41.03%. The company’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same period in the prior year, the business earned $5.55 earnings per share. As a group, equities research analysts predict that Intuit Inc. will post 5.85 EPS for the current fiscal year.

Intuit 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.

Recommended Story: How Do You Make Money With Penny Stocks?

Want to see what other hedge funds are holding INTU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intuit Inc. (NASDAQ:INTU).

Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

Receive News & Ratings for Intuit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intuit and related companies with MarketBeat.com's FREE daily email newsletter.