Coldstream Capital Management Inc. Raises Stake in Intuit Inc. (NASDAQ:INTU)

Coldstream Capital Management Inc. raised its position in Intuit Inc. (NASDAQ:INTUFree Report) by 38.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,629 shares of the software maker’s stock after purchasing an additional 1,558 shares during the period. Coldstream Capital Management Inc.’s holdings in Intuit were worth $3,518,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of INTU. Norges Bank acquired a new stake in Intuit during the fourth quarter worth approximately $2,101,848,000. Parnassus Investments LLC raised its stake in Intuit by 42,268.5% during the 3rd quarter. Parnassus Investments LLC now owns 610,954 shares of the software maker’s stock worth $312,161,000 after acquiring an additional 609,512 shares in the last quarter. Wellington Management Group LLP raised its stake in Intuit by 61.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,350,929 shares of the software maker’s stock worth $690,244,000 after acquiring an additional 514,259 shares in the last quarter. International Assets Investment Management LLC lifted its position in Intuit by 60,534.9% in the fourth quarter. International Assets Investment Management LLC now owns 472,952 shares of the software maker’s stock valued at $295,609,000 after acquiring an additional 472,172 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its stake in Intuit by 9.5% in the fourth quarter. Fisher Asset Management LLC now owns 3,114,957 shares of the software maker’s stock valued at $1,946,943,000 after acquiring an additional 270,414 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Intuit news, EVP Alex G. Balazs sold 280 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Kerry J. Mclean sold 3,692 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value 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 $15,233,800.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Alex G. Balazs sold 280 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,717 shares of company stock worth $3,117,156. 2.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

INTU has been the subject of several research reports. StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a report on Wednesday, May 8th. Susquehanna lifted their price target on Intuit from $700.00 to $775.00 and gave the stock a “positive” rating in a research report on Friday, February 23rd. Evercore ISI lifted their price target on Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. UBS Group lifted their price target on Intuit from $625.00 to $670.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, Barclays lifted their price target on Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Five investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and an average price target of $664.77.

Read Our Latest Stock Report on INTU

Intuit Price Performance

Shares of Intuit stock traded up $9.58 during trading on Monday, reaching $670.76. The company’s stock had a trading volume of 361,384 shares, compared to its average volume of 1,200,659. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. Intuit Inc. has a 12-month low of $400.22 and a 12-month high of $671.01. The company has a market capitalization of $187.81 billion, a P/E ratio of 68.24, a price-to-earnings-growth ratio of 4.03 and a beta of 1.22. The business has a 50 day moving average price of $633.93 and a 200-day moving average price of $616.90.

Intuit (NASDAQ:INTUGet Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.33. The firm had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.05 earnings per share. As a group, sell-side analysts anticipate that Intuit Inc. will post 11.28 EPS for the current year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a yield of 0.54%. Intuit’s payout ratio is 36.73%.

About Intuit

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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