Tredje AP fonden Acquires 6,100 Shares of Intuit Inc. (NASDAQ:INTU)

Tredje AP fonden increased its stake in Intuit Inc. (NASDAQ:INTU) by 8.9% during the second quarter, Holdings Channel.com reports. The institutional investor owned 74,287 shares of the software maker’s stock after buying an additional 6,100 shares during the period. Tredje AP fonden’s holdings in Intuit were worth $48,822,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in Intuit by 173.0% in the fourth quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock valued at $2,304,850,000 after acquiring an additional 2,336,654 shares during the last quarter. Lone Pine Capital LLC bought a new stake in shares of Intuit in the fourth quarter valued at $467,852,000. Parnassus Investments LLC grew its stake in shares of Intuit by 119.0% during the 4th quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock worth $836,377,000 after acquiring an additional 727,185 shares during the period. Capital World Investors raised its stake in Intuit by 54.7% in the 4th quarter. Capital World Investors now owns 1,176,711 shares of the software maker’s stock valued at $735,480,000 after acquiring an additional 416,099 shares during the period. Finally, SG Americas Securities LLC boosted its position in Intuit by 940.4% during the first quarter. SG Americas Securities LLC now owns 315,670 shares of the software maker’s stock worth $205,186,000 after purchasing an additional 285,328 shares during the period. Institutional investors own 83.66% of the company’s stock.

Intuit Trading Down 0.2 %

NASDAQ INTU opened at $644.82 on Wednesday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The stock’s 50-day simple moving average is $636.25 and its two-hundred day simple moving average is $631.29. Intuit Inc. has a twelve month low of $473.56 and a twelve month high of $676.62. The company has a market capitalization of $180.26 billion, a price-to-earnings ratio of 59.49, a PEG ratio of 3.14 and a beta of 1.24.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. The company had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. Intuit’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period last year, the firm posted $0.40 EPS. Research analysts forecast that Intuit Inc. will post 14.06 EPS for the current fiscal year.

Intuit Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be paid a $1.04 dividend. This is a boost from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.65%. Intuit’s dividend payout ratio is 38.38%.

Insider Activity at Intuit

In other Intuit news, CFO Sandeep Aujla sold 1,061 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $651.27, for a total value of $690,997.47. Following the completion of the sale, the chief financial officer now directly owns 3,333 shares of the company’s stock, valued at $2,170,682.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Mark P. Notarainni sold 965 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $651.00, for a total transaction of $628,215.00. Following the transaction, the executive vice president now directly owns 1,020 shares in the company, valued at approximately $664,020. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Sandeep Aujla sold 1,061 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $651.27, for a total value of $690,997.47. Following the completion of the sale, the chief financial officer now owns 3,333 shares of the company’s stock, valued at approximately $2,170,682.91. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,940 shares of company stock valued at $10,721,252. Insiders own 2.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on INTU shares. Morgan Stanley downgraded shares of Intuit from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $750.00 to $685.00 in a report on Wednesday, August 14th. Jefferies Financial Group boosted their price objective on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. BMO Capital Markets raised their target price on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Susquehanna reiterated a “positive” rating and set a $757.00 price target on shares of Intuit in a research report on Friday, August 16th. Finally, StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a research report on Saturday, August 31st. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and an average target price of $720.37.

About Intuit

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.