Nippon Life Global Investors Americas Inc. Purchases 2,690 Shares of Intuit Inc. (INTU)

Nippon Life Global Investors Americas Inc. increased its position in Intuit Inc. (NASDAQ:INTU) by 5.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,410 shares of the software maker’s stock after purchasing an additional 2,690 shares during the period. Nippon Life Global Investors Americas Inc.’s holdings in Intuit were worth $7,733,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wetherby Asset Management Inc. lifted its stake in Intuit by 0.4% during the 2nd quarter. Wetherby Asset Management Inc. now owns 7,040 shares of the software maker’s stock valued at $935,000 after acquiring an additional 27 shares in the last quarter. Bank of Hawaii lifted its stake in Intuit by 1.2% during the 2nd quarter. Bank of Hawaii now owns 2,509 shares of the software maker’s stock valued at $333,000 after acquiring an additional 30 shares in the last quarter. TCI Wealth Advisors Inc. lifted its stake in Intuit by 0.6% during the 2nd quarter. TCI Wealth Advisors Inc. now owns 5,592 shares of the software maker’s stock valued at $743,000 after acquiring an additional 36 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Intuit by 0.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,084 shares of the software maker’s stock valued at $2,402,000 after acquiring an additional 59 shares in the last quarter. Finally, Financial Advisors Network Inc. lifted its stake in Intuit by 2.8% during the 2nd quarter. Financial Advisors Network Inc. now owns 2,740 shares of the software maker’s stock valued at $364,000 after acquiring an additional 74 shares in the last quarter. Institutional investors own 86.51% of the company’s stock.

In related news, CEO Brad D. Smith sold 110,496 shares of Intuit stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $151.40, for a total value of $16,729,094.40. Following the completion of the sale, the chief executive officer now owns 399,246 shares of the company’s stock, valued at approximately $60,445,844.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Henry Tayloe Stansbury sold 1,783 shares of Intuit stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $144.20, for a total value of $257,108.60. Following the completion of the sale, the executive vice president now directly owns 2,675 shares of the company’s stock, valued at approximately $385,735. The disclosure for this sale can be found here. In the last three months, insiders sold 1,097,555 shares of company stock valued at $160,825,842. 5.59% of the stock is currently owned by insiders.

Several brokerages have weighed in on INTU. Zacks Investment Research cut Intuit from a “hold” rating to a “sell” rating in a research note on Monday, November 27th. Morgan Stanley raised their price objective on Intuit from $110.00 to $120.00 and gave the company an “underweight” rating in a research note on Tuesday, November 21st. Oppenheimer restated a “buy” rating and set a $166.00 price objective (up from $159.00) on shares of Intuit in a research note on Tuesday, November 21st. UBS raised their price objective on Intuit from $152.00 to $158.00 and gave the company a “neutral” rating in a research note on Tuesday, November 21st. Finally, Wells Fargo & Company restated an “outperform” rating and set a $180.00 price objective (up from $163.00) on shares of Intuit in a research note on Tuesday, November 21st. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company. Intuit currently has an average rating of “Hold” and an average price target of $152.89.

Shares of Intuit Inc. (INTU) opened at $156.44 on Monday. Intuit Inc. has a 12-month low of $111.48 and a 12-month high of $158.90. The stock has a market capitalization of $39,993.89, a price-to-earnings ratio of 41.83, a PEG ratio of 2.82 and a beta of 1.18. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.67 and a current ratio of 0.67.

Intuit (NASDAQ:INTU) last announced its earnings results on Monday, November 20th. The software maker reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.30. Intuit had a return on equity of 77.56% and a net margin of 18.62%. The firm had revenue of $886.00 million during the quarter, compared to analyst estimates of $855.74 million. During the same period last year, the firm posted $0.06 EPS. The business’s revenue was up 13.9% compared to the same quarter last year. sell-side analysts predict that Intuit Inc. will post 3.95 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 18th. Investors of record on Wednesday, January 10th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Tuesday, January 9th. Intuit’s dividend payout ratio (DPR) is currently 41.38%.

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Intuit Profile

Intuit Inc is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. The Company operates through three segments: Small Business, Consumer Tax and ProConnect. The Small Business segment serves and advises small businesses and the accounting professionals, and includes QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions.

Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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