Intuit Inc. (NASDAQ:INTU) Shares Bought by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC lifted its position in shares of Intuit Inc. (NASDAQ:INTU) by 1.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 70,416 shares of the software maker’s stock after purchasing an additional 730 shares during the period. Intuit accounts for approximately 1.3% of NorthCrest Asset Manangement LLC’s investment portfolio, making the stock its 10th biggest holding. NorthCrest Asset Manangement LLC’s holdings in Intuit were worth $43,235,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Liberty Capital Management Inc. boosted its holdings in shares of Intuit by 0.3% in the 1st quarter. Liberty Capital Management Inc. now owns 21,060 shares of the software maker’s stock valued at $12,931,000 after purchasing an additional 58 shares in the last quarter. RFG Holdings Inc. raised its position in shares of Intuit by 12.0% in the 1st quarter. RFG Holdings Inc. now owns 1,365 shares of the software maker’s stock worth $840,000 after acquiring an additional 146 shares in the last quarter. Legacy Trust raised its position in shares of Intuit by 2.1% in the 1st quarter. Legacy Trust now owns 1,713 shares of the software maker’s stock worth $1,052,000 after acquiring an additional 36 shares in the last quarter. Rockland Trust Co. increased its position in Intuit by 4.6% in the 1st quarter. Rockland Trust Co. now owns 37,984 shares of the software maker’s stock valued at $23,322,000 after buying an additional 1,661 shares in the last quarter. Finally, Mogy Joel R Investment Counsel Inc. increased its position in Intuit by 1.6% in the 1st quarter. Mogy Joel R Investment Counsel Inc. now owns 73,109 shares of the software maker’s stock valued at $44,888,000 after buying an additional 1,123 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Intuit Price Performance

Intuit stock opened at $766.21 on Friday. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $773.45. The stock has a market capitalization of $213.73 billion, a P/E ratio of 74.39, a P/E/G ratio of 2.85 and a beta of 1.28. The firm’s 50-day moving average is $660.65 and its two-hundred day moving average is $629.50. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.89 by $0.76. The company had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.56 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $9.88 earnings per share. Equities analysts predict that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 10th will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 annualized dividend and a yield of 0.54%. Intuit’s dividend payout ratio (DPR) is presently 33.77%.

Insider Activity at Intuit

In related news, EVP Alex G. Balazs sold 1,459 shares of the company’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $770.80, for a total value of $1,124,597.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eve B. Burton sold 1,702 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the transaction, the director now owns 8 shares of the company’s stock, valued at $4,800. This represents a 99.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 288,408 shares of company stock valued at $213,441,865. 2.68% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on INTU. Jefferies Financial Group set a $850.00 target price on Intuit and gave the stock a “buy” rating in a research note on Friday, May 23rd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $820.00 price target (up previously from $714.00) on shares of Intuit in a report on Friday, May 23rd. Wells Fargo & Company reissued an “overweight” rating and issued a $825.00 target price (up previously from $775.00) on shares of Intuit in a research note on Friday, May 23rd. Morgan Stanley reissued an “overweight” rating and issued a $785.00 target price (up previously from $720.00) on shares of Intuit in a research note on Friday, May 23rd. Finally, Scotiabank upgraded shares of Intuit from a “sector perform” rating to a “sector outperform” rating and upped their price target for the company from $600.00 to $700.00 in a research report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $785.33.

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.