Intuit Inc. (NASDAQ:INTU) Shares Purchased by Flputnam Investment Management Co.

Flputnam Investment Management Co. grew its stake in shares of Intuit Inc. (NASDAQ:INTU) by 0.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,554 shares of the software maker’s stock after purchasing an additional 24 shares during the quarter. Flputnam Investment Management Co.’s holdings in Intuit were worth $6,597,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Intuit during the 4th quarter worth approximately $1,173,468,000. Moneta Group Investment Advisors LLC increased its holdings in Intuit by 118,345.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 2,088,194 shares of the software maker’s stock valued at $812,767,000 after acquiring an additional 2,086,431 shares in the last quarter. Morgan Stanley raised its holdings in shares of Intuit by 42.5% in the fourth quarter. Morgan Stanley now owns 3,444,913 shares of the software maker’s stock worth $1,340,830,000 after acquiring an additional 1,027,752 shares during the last quarter. Parnassus Investments LLC lifted its position in shares of Intuit by 42,268.5% in the third quarter. Parnassus Investments LLC now owns 610,954 shares of the software maker’s stock valued at $312,161,000 after acquiring an additional 609,512 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of 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 in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

INTU has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their target price on Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a research report on Friday, February 23rd. Barclays lifted their price target on shares of Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Stifel Nicolaus lifted their target price on Intuit from $600.00 to $720.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Wells Fargo & Company increased their target price on shares of Intuit from $615.00 to $710.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 21st. Finally, Susquehanna raised their target price on shares of Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a research note on Friday, February 23rd. Four analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and a consensus price target of $645.00.

Intuit Stock Performance

NASDAQ:INTU traded up $0.18 during trading on Tuesday, reaching $612.30. The company’s stock had a trading volume of 98,882 shares, compared to its average volume of 1,235,286. The firm has a 50 day moving average of $645.96 and a 200-day moving average of $597.57. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17. Intuit Inc. has a 12 month low of $400.22 and a 12 month high of $671.01. The firm has a market cap of $171.44 billion, a price-to-earnings ratio of 62.46, a price-to-earnings-growth ratio of 3.78 and a beta of 1.21.

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

Intuit Announces Dividend

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

Insider Buying and Selling at Intuit

In other news, CAO Lauren D. Hotz sold 745 shares of Intuit stock in a transaction on Monday, February 26th. The shares were sold at an average price of $655.13, for a total transaction of $488,071.85. Following the completion of the sale, the chief accounting officer now directly owns 3,180 shares of the company’s stock, valued at approximately $2,083,313.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Intuit news, EVP Alex G. Balazs sold 280 shares of the stock in a transaction on Wednesday, March 20th. The shares were 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 Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Lauren D. Hotz sold 745 shares of Intuit stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $655.13, for a total value of $488,071.85. Following the completion of the sale, the chief accounting officer now owns 3,180 shares in the company, valued at $2,083,313.40. The disclosure for this sale can be found here. Insiders sold a total of 4,717 shares of company stock valued at $3,117,156 in the last three months. Company insiders own 2.90% of the company’s stock.

Intuit Company 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.