Intuit Inc. (NASDAQ:INTU) Shares Bought by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. boosted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 5.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 59,293 shares of the software maker’s stock after buying an additional 3,075 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Intuit were worth $38,968,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of INTU. Dorsey & Whitney Trust CO LLC raised its holdings in shares of Intuit by 4.9% during the second quarter. Dorsey & Whitney Trust CO LLC now owns 2,106 shares of the software maker’s stock worth $1,384,000 after purchasing an additional 99 shares during the last quarter. Global X Japan Co. Ltd. raised its stake in shares of Intuit by 34.3% during the 2nd quarter. Global X Japan Co. Ltd. now owns 26,739 shares of the software maker’s stock valued at $17,573,000 after buying an additional 6,828 shares during the last quarter. LGT Fund Management Co Ltd. raised its stake in shares of Intuit by 110.8% during the 2nd quarter. LGT Fund Management Co Ltd. now owns 6,300 shares of the software maker’s stock valued at $4,140,000 after buying an additional 3,311 shares during the last quarter. LGT Group Foundation lifted its holdings in shares of Intuit by 297.0% in the 2nd quarter. LGT Group Foundation now owns 43,052 shares of the software maker’s stock valued at $28,294,000 after buying an additional 32,208 shares during the period. Finally, Liberty Wealth Management LLC boosted its stake in shares of Intuit by 1,728.1% in the second quarter. Liberty Wealth Management LLC now owns 36,325 shares of the software maker’s stock worth $23,873,000 after buying an additional 34,338 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Stock Performance

NASDAQ INTU opened at $626.99 on Tuesday. The stock has a fifty day simple moving average of $637.94 and a 200-day simple moving average of $632.08. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The stock has a market cap of $175.74 billion, a PE ratio of 57.84, a P/E/G ratio of 3.00 and a beta of 1.24. Intuit Inc. has a twelve month low of $473.56 and a twelve month high of $676.62.

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

Intuit Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be given a dividend of $1.04 per share. This is a positive change from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a dividend yield of 0.66%. The ex-dividend date is Thursday, October 10th. Intuit’s dividend payout ratio (DPR) is currently 33.21%.

Insider Activity

In related news, CFO Sandeep Aujla sold 862 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the sale, the chief financial officer now owns 3,840 shares in the company, valued at approximately $2,384,755.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Intuit news, insider Scott D. Cook sold 27,309 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $593.16, for a total value of $16,198,606.44. Following the completion of the transaction, the insider now owns 6,524,412 shares in the company, valued at $3,870,020,221.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Sandeep Aujla sold 862 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the sale, the chief financial officer now directly owns 3,840 shares in the company, valued at approximately $2,384,755.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,308 shares of company stock valued at $25,070,676. 2.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

INTU has been the subject of a number of analyst reports. Royal Bank of Canada initiated coverage on Intuit in a report on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 price target for the company. UBS Group boosted their target price on shares of Intuit from $625.00 to $670.00 and gave the company a “neutral” rating in a research note on Monday, May 20th. Bank of America lifted their price objective on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Stifel Nicolaus increased their target price on shares of Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Finally, KeyCorp raised their target price on Intuit from $720.00 to $740.00 and gave the company an “overweight” rating in a research report on Monday, May 20th. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $720.37.

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.