Everence Capital Management Inc. Purchases 2,700 Shares of Intuit Inc. (NASDAQ:INTU)

Everence Capital Management Inc. boosted its position in shares of Intuit Inc. (NASDAQ:INTU) by 44.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,830 shares of the software maker’s stock after purchasing an additional 2,700 shares during the quarter. Everence Capital Management Inc.’s holdings in Intuit were worth $5,519,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in Intuit during the 4th quarter worth about $1,173,468,000. Moneta Group Investment Advisors LLC boosted its stake in shares of Intuit by 118,345.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,088,194 shares of the software maker’s stock valued at $812,767,000 after purchasing an additional 2,086,431 shares in the last quarter. Morgan Stanley boosted its stake in shares of Intuit by 42.5% during the fourth quarter. Morgan Stanley now owns 3,444,913 shares of the software maker’s stock valued at $1,340,830,000 after purchasing an additional 1,027,752 shares in the last quarter. Parnassus Investments LLC increased its holdings in Intuit by 42,268.5% during the third quarter. Parnassus Investments LLC now owns 610,954 shares of the software maker’s stock valued at $312,161,000 after buying an additional 609,512 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in Intuit by 61.5% during the third quarter. Wellington Management Group LLP now owns 1,350,929 shares of the software maker’s stock worth $690,244,000 after buying an additional 514,259 shares during the period. 83.66% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Alex G. Balazs sold 280 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Alex G. Balazs sold 280 shares of Intuit 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 document filed with the SEC, which is available at this link. Also, EVP Kerry J. Mclean sold 3,692 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the completion of the sale, the executive vice president now directly owns 22,948 shares of the company’s stock, valued at approximately $15,233,800.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,717 shares of company stock worth $3,117,156. 2.90% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Oppenheimer boosted their price target on Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. KeyCorp increased their price target on shares of Intuit from $700.00 to $720.00 and gave the company an “overweight” rating in a research report on Wednesday, March 27th. Barclays lifted their price objective on shares of Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Evercore ISI increased their target price on shares of Intuit from $670.00 to $725.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. Finally, Wells Fargo & Company raised their target price on shares of Intuit from $615.00 to $710.00 and gave the company an “overweight” rating in a research note on Wednesday, February 21st. Four analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $645.00.

Intuit Price Performance

INTU traded down $0.63 during midday trading on Tuesday, hitting $611.49. 1,098,944 shares of the company traded hands, compared to its average volume of 1,243,843. Intuit Inc. has a 52-week low of $400.22 and a 52-week high of $671.01. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35. The business has a 50 day simple moving average of $645.96 and a two-hundred day simple moving average of $597.57. The company has a market capitalization of $171.22 billion, a price-to-earnings ratio of 62.54, a PEG ratio of 3.78 and a beta of 1.21.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, beating the consensus estimate of $2.30 by $0.33. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The firm had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same period in the prior year, the company earned $1.05 EPS. The firm’s revenue was up 11.3% compared to the same quarter last year. On average, equities analysts forecast that Intuit Inc. will post 11.27 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Wednesday, April 10th will be given a dividend of $0.90 per share. The ex-dividend date is Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a yield of 0.59%. Intuit’s payout ratio is presently 36.73%.

Intuit Profile

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.