Legacy Bridge LLC Purchases 87 Shares of Intuit Inc. (NASDAQ:INTU)

Legacy Bridge LLC lifted its position in shares of Intuit Inc. (NASDAQ:INTU – Get Rating) by 12.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 782 shares of the software maker’s stock after purchasing an additional 87 shares during the quarter. Legacy Bridge LLC’s holdings in Intuit were worth $304,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in INTU. Bishop Rock Capital L.P. lifted its position in Intuit by 27,658.9% in the 2nd quarter. Bishop Rock Capital L.P. now owns 4,562,453 shares of the software maker’s stock valued at $11,837,000 after acquiring an additional 4,546,017 shares in the last quarter. Magellan Asset Management Ltd lifted its position in Intuit by 184,265.0% in the 3rd quarter. Magellan Asset Management Ltd now owns 1,279,493 shares of the software maker’s stock valued at $495,573,000 after acquiring an additional 1,278,799 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Intuit in the 2nd quarter valued at $293,917,000. Price T Rowe Associates Inc. MD lifted its position in Intuit by 3.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 17,749,565 shares of the software maker’s stock valued at $6,841,392,000 after acquiring an additional 575,174 shares in the last quarter. Finally, Whale Rock Capital Management LLC lifted its position in Intuit by 308.0% in the 2nd quarter. Whale Rock Capital Management LLC now owns 685,351 shares of the software maker’s stock valued at $264,162,000 after acquiring an additional 517,362 shares in the last quarter. 82.65% of the stock is owned by institutional investors.

Insider Activity at Intuit

In other Intuit news, CAO Lauren D. Hotz sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $413.16, for a total value of $206,580.00. Following the completion of the transaction, the chief accounting officer now directly owns 1,781 shares in the company, valued at approximately $735,837.96. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Intuit news, CAO Lauren D. Hotz sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $413.16, for a total value of $206,580.00. Following the completion of the transaction, the chief accounting officer now directly owns 1,781 shares in the company, valued at approximately $735,837.96. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP James Alexander Chriss sold 597 shares of the company’s stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $400.00, for a total transaction of $238,800.00. Following the completion of the transaction, the executive vice president now owns 344 shares of the company’s stock, valued at $137,600. The disclosure for this sale can be found here. Insiders sold a total of 7,925 shares of company stock valued at $3,258,123 in the last quarter. Insiders own 3.18% of the company’s stock.

Intuit Stock Down 1.1 %

Shares of INTU opened at $413.69 on Friday. Intuit Inc. has a 52 week low of $339.36 and a 52 week high of $507.71. The firm has a market cap of $116.06 billion, a P/E ratio of 60.66, a price-to-earnings-growth ratio of 3.12 and a beta of 1.16. The firm’s 50-day simple moving average is $408.58 and its 200 day simple moving average is $404.01. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.23 and a current ratio of 1.23.

Intuit (NASDAQ:INTU – Get Rating) last announced its quarterly earnings results on Thursday, February 23rd. The software maker reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.76. The business had revenue of $3.04 billion for the quarter, compared to analyst estimates of $2.91 billion. Intuit had a net margin of 14.22% and a return on equity of 14.89%. Intuit’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.67 EPS. On average, analysts forecast that Intuit Inc. will post 9.01 earnings per share for the current year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 18th. Investors of record on Monday, April 10th will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend is Thursday, April 6th. Intuit’s payout ratio is 45.75%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on INTU shares. BMO Capital Markets boosted their price objective on shares of Intuit from $448.00 to $462.00 and gave the company an “outperform” rating in a research report on Friday, February 24th. Credit Suisse Group initiated coverage on shares of Intuit in a research report on Monday, November 21st. They issued an “outperform” rating and a $500.00 price objective on the stock. Wells Fargo & Company lowered their price target on shares of Intuit from $525.00 to $475.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 30th. Daiwa Capital Markets initiated coverage on shares of Intuit in a research note on Wednesday. They issued an “outperform” rating and a $444.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Intuit from $560.00 to $525.00 and set a “buy” rating on the stock in a research note on Wednesday, November 30th. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Intuit has an average rating of “Moderate Buy” and an average price target of $483.53.

Intuit Profile

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Intuit, Inc engages in the provision of business and financial management solutions. It operates through the following segments: Small Business and Self-Employed, Consumer, Credit Karma, and ProConnect. The Small Business and Self-Employed segment offers QuickBooks financial and business management online services and desktop software, payroll solutions, payment processing solutions, and financing for small businesses.