Tiaa Fsb acquired a new position in shares of Intuit Inc. (NASDAQ:INTU) during the 1st quarter, HoldingsChannel.com reports. The fund acquired 53,013 shares of the software maker’s stock, valued at approximately $13,858,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its holdings in shares of Intuit by 46,373.2% in the third quarter. Bank of New York Mellon Corp now owns 2,858,100 shares of the software maker’s stock valued at $649,932,000 after purchasing an additional 2,851,950 shares during the last quarter. Martingale Asset Management L P raised its holdings in shares of Intuit by 1.1% in the third quarter. Martingale Asset Management L P now owns 316,329 shares of the software maker’s stock valued at $71,934,000 after purchasing an additional 3,512 shares during the last quarter. LPL Financial LLC raised its holdings in shares of Intuit by 22.2% in the third quarter. LPL Financial LLC now owns 20,734 shares of the software maker’s stock valued at $4,715,000 after purchasing an additional 3,768 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Intuit by 12.3% in the third quarter. The Manufacturers Life Insurance Company now owns 306,175 shares of the software maker’s stock valued at $69,624,000 after purchasing an additional 33,533 shares during the last quarter. Finally, EP Wealth Advisors LLC acquired a new stake in shares of Intuit in the third quarter valued at approximately $229,000. 87.69% of the stock is currently owned by institutional investors and hedge funds.

INTU stock traded up $0.82 during midday trading on Monday, reaching $260.88. 1,452,934 shares of the company were exchanged, compared to its average volume of 1,525,031. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.32 and a quick ratio of 1.32. Intuit Inc. has a one year low of $172.74 and a one year high of $272.14. The stock has a market cap of $67.37 billion, a price-to-earnings ratio of 57.59, a price-to-earnings-growth ratio of 3.02 and a beta of 1.19.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, February 21st. The software maker reported $1.00 EPS for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.44. Intuit had a net margin of 22.89% and a return on equity of 53.70%. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the previous year, the business posted $0.35 earnings per share. Research analysts anticipate that Intuit Inc. will post 5.3 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.88 dividend on an annualized basis and a yield of 0.72%. Intuit’s dividend payout ratio (DPR) is 41.50%.

In other Intuit news, EVP Laura A. Fennell sold 67,488 shares of Intuit stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $251.43, for a total transaction of $16,968,507.84. Following the completion of the transaction, the executive vice president now directly owns 95,102 shares of the company’s stock, valued at $23,911,495.86. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Mark J. Flournoy sold 5,939 shares of Intuit stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $251.18, for a total transaction of $1,491,758.02. Following the transaction, the vice president now directly owns 3,626 shares of the company’s stock, valued at $910,778.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 90,609 shares of company stock valued at $22,757,853. Company insiders own 4.60% of the company’s stock.

Several equities analysts recently weighed in on the stock. Deutsche Bank raised their target price on shares of Intuit from $270.00 to $280.00 and gave the company a “buy” rating in a research note on Friday. Guggenheim raised their target price on shares of Intuit from $260.00 to $310.00 in a research note on Thursday. BidaskClub cut shares of Intuit from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 9th. KeyCorp raised their target price on shares of Intuit from $255.00 to $285.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Finally, Royal Bank of Canada raised their target price on shares of Intuit from $274.00 to $290.00 and gave the company an “outperform” rating in a research note on Tuesday, April 2nd. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Intuit currently has a consensus rating of “Hold” and an average price target of $240.00.

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About Intuit

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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