IFM Investors Pty Ltd Acquires 2,260 Shares of Intuit Inc. (NASDAQ:INTU)

IFM Investors Pty Ltd lifted its holdings in Intuit Inc. (NASDAQ:INTU) by 11.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,412 shares of the software maker’s stock after buying an additional 2,260 shares during the period. IFM Investors Pty Ltd’s holdings in Intuit were worth $6,985,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. BlackRock Inc. grew its holdings in Intuit by 4.1% during the 2nd quarter. BlackRock Inc. now owns 23,085,334 shares of the software maker’s stock valued at $6,837,643,000 after purchasing an additional 916,632 shares during the last quarter. Nordea Investment Management AB grew its holdings in Intuit by 116.2% during the 2nd quarter. Nordea Investment Management AB now owns 893,754 shares of the software maker’s stock valued at $259,572,000 after purchasing an additional 480,331 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Intuit by 142.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 709,334 shares of the software maker’s stock valued at $163,147,000 after purchasing an additional 417,084 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Intuit by 30.8% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,752,372 shares of the software maker’s stock valued at $518,148,000 after purchasing an additional 412,257 shares during the last quarter. Finally, Fred Alger Management LLC grew its holdings in Intuit by 247.9% during the 1st quarter. Fred Alger Management LLC now owns 463,338 shares of the software maker’s stock valued at $106,568,000 after purchasing an additional 330,163 shares during the last quarter. Hedge funds and other institutional investors own 85.52% of the company’s stock.

Shares of NASDAQ INTU traded down $0.82 during trading hours on Friday, hitting $341.15. 790,020 shares of the stock were exchanged, compared to its average volume of 1,403,350. The company has a quick ratio of 2.26, a current ratio of 2.26 and a debt-to-equity ratio of 0.40. The company has a market cap of $89.32 billion, a PE ratio of 49.30, a PEG ratio of 3.74 and a beta of 0.99. The firm has a fifty day moving average price of $327.71 and a 200-day moving average price of $295.26. Intuit Inc. has a 12 month low of $187.68 and a 12 month high of $360.00.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Tuesday, August 25th. The software maker reported $1.81 EPS for the quarter, topping the consensus estimate of $0.86 by $0.95. The firm had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.57 billion. Intuit had a net margin of 23.78% and a return on equity of 40.79%. Intuit’s revenue was up 81.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.09) EPS. As a group, equities analysts anticipate that Intuit Inc. will post 7.11 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 19th. Investors of record on Monday, October 12th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Thursday, October 8th. This is a positive change from Intuit’s previous quarterly dividend of $0.53. Intuit’s payout ratio is 35.98%.

In other Intuit news, EVP Gregory N. Johnson sold 3,069 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $341.96, for a total transaction of $1,049,475.24. Following the transaction, the executive vice president now owns 13,192 shares in the company, valued at approximately $4,511,136.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Brad D. Smith sold 18,773 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $342.01, for a total transaction of $6,420,553.73. Following the transaction, the chairman now owns 304,706 shares in the company, valued at approximately $104,212,499.06. The disclosure for this sale can be found here. In the last quarter, insiders have sold 244,742 shares of company stock valued at $83,471,109. 4.09% of the stock is currently owned by company insiders.

Several brokerages recently commented on INTU. Argus upped their price target on shares of Intuit from $325.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, August 27th. KeyCorp boosted their price objective on shares of Intuit from $315.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, August 24th. Mizuho boosted their price objective on shares of Intuit from $330.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, August 26th. Stifel Nicolaus boosted their price objective on shares of Intuit from $300.00 to $405.00 and gave the company a “buy” rating in a research report on Wednesday, August 26th. Finally, Oppenheimer boosted their price objective on shares of Intuit from $308.00 to $355.00 and gave the company an “outperform” rating in a research report on Wednesday, August 26th. Two analysts have rated the stock with a sell rating, three have given a hold rating and fifteen have assigned a buy rating to the company’s stock. Intuit currently has an average rating of “Buy” and a consensus target price of $360.94.

Intuit Profile

Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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