Ninety One UK Ltd Raises Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Ninety One UK Ltd raised its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 3.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,443,453 shares of the software maker’s stock after purchasing an additional 49,672 shares during the quarter. Intuit accounts for 1.4% of Ninety One UK Ltd’s portfolio, making the stock its 15th largest position. Ninety One UK Ltd’s holdings in Intuit were worth $427,536,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. BlackRock Inc. grew its holdings in Intuit by 4.1% during the 2nd quarter. BlackRock Inc. now owns 23,085,334 shares of the software maker’s stock worth $6,837,643,000 after acquiring an additional 916,632 shares in the last quarter. Edgewood Management LLC lifted its position in shares of Intuit by 21.6% during the first quarter. Edgewood Management LLC now owns 5,973,509 shares of the software maker’s stock worth $1,373,907,000 after purchasing an additional 1,059,259 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Intuit by 6.4% during the second quarter. Bank of New York Mellon Corp now owns 2,974,425 shares of the software maker’s stock worth $880,994,000 after purchasing an additional 178,720 shares during the last quarter. Primecap Management Co. CA grew its stake in Intuit by 10.4% in the first quarter. Primecap Management Co. CA now owns 2,812,641 shares of the software maker’s stock worth $646,907,000 after purchasing an additional 265,250 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in Intuit by 2.6% in the second quarter. Bank of America Corp DE now owns 2,631,783 shares of the software maker’s stock valued at $779,509,000 after buying an additional 66,772 shares during the last quarter. Institutional investors own 85.52% of the company’s stock.

In other news, CFO Michelle M. Clatterbuck sold 16,106 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $343.70, for a total transaction of $5,535,632.20. Following the completion of the sale, the chief financial officer now directly owns 16,652 shares of the company’s stock, valued at $5,723,292.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Laura A. Fennell sold 16,332 shares of the stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $328.79, for a total value of $5,369,798.28. Following the completion of the transaction, the executive vice president now owns 82,441 shares of the company’s stock, valued at approximately $27,105,776.39. The disclosure for this sale can be found here. Insiders sold a total of 215,538 shares of company stock worth $74,115,900 over the last quarter. Insiders own 4.09% of the company’s stock.

Several research analysts have recently commented on INTU shares. Oppenheimer lifted their target price on Intuit from $308.00 to $355.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 26th. Guggenheim lifted their price objective on shares of Intuit from $320.00 to $395.00 and gave the stock a “buy” rating in a report on Wednesday, August 26th. Citigroup increased their target price on shares of Intuit from $292.00 to $362.00 and gave the stock a “neutral” rating in a report on Thursday, August 27th. BidaskClub raised Intuit from a “sell” rating to a “hold” rating in a report on Thursday, August 27th. Finally, Mizuho raised their target price on Intuit from $330.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, August 26th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $355.24.

Shares of INTU traded up $4.16 during midday trading on Tuesday, reaching $322.47. The stock had a trading volume of 1,111,606 shares, compared to its average volume of 1,417,580. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.26 and a quick ratio of 2.26. The company has a market capitalization of $84.42 billion, a P/E ratio of 46.42, a P/E/G ratio of 3.59 and a beta of 0.96. The firm’s 50 day moving average price is $318.50 and its 200-day moving average price is $283.91. Intuit Inc. has a 52 week low of $187.68 and a 52 week high of $360.00.

Intuit (NASDAQ:INTU) last released its earnings results on Tuesday, August 25th. The software maker reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.95. Intuit had a return on equity of 40.79% and a net margin of 23.78%. The firm had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same period in the previous year, the company earned ($0.09) earnings per share. Intuit’s revenue was up 81.1% compared to the same quarter last year. On average, equities analysts forecast that Intuit Inc. will post 7.13 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 19th. Investors of record on Monday, October 12th will be issued a $0.59 dividend. This is an increase from Intuit’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date of this dividend is Thursday, October 8th. Intuit’s payout ratio is presently 32.32%.

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.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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