Quilter Plc Acquires 8,484 Shares of Intuit Inc. (NASDAQ:INTU)

Quilter Plc increased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 5.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 157,914 shares of the software maker’s stock after buying an additional 8,484 shares during the quarter. Intuit accounts for about 2.3% of Quilter Plc’s holdings, making the stock its 13th biggest holding. Quilter Plc owned approximately 0.06% of Intuit worth $103,783,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. LGT Financial Advisors LLC bought a new stake in shares of Intuit during the second quarter worth $25,000. Cultivar Capital Inc. bought a new position in shares of Intuit in the 2nd quarter valued at $26,000. Hobbs Group Advisors LLC acquired a new stake in shares of Intuit during the 2nd quarter valued at $35,000. Trifecta Capital Advisors LLC grew its position in Intuit by 145.8% during the 2nd quarter. Trifecta Capital Advisors LLC now owns 59 shares of the software maker’s stock worth $39,000 after acquiring an additional 35 shares during the last quarter. Finally, J.Safra Asset Management Corp acquired a new position in Intuit in the 2nd quarter worth about $39,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Price Performance

Shares of INTU opened at $655.31 on Friday. The firm has a market cap of $183.68 billion, a PE ratio of 60.45, a price-to-earnings-growth ratio of 3.14 and a beta of 1.24. Intuit Inc. has a 52-week low of $473.56 and a 52-week high of $676.62. The business’s 50 day moving average price is $636.63 and its two-hundred day moving average price is $631.75. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29.

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

Intuit Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be paid a $1.04 dividend. The ex-dividend date is Thursday, October 10th. This is an increase from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a dividend yield of 0.63%. Intuit’s dividend payout ratio (DPR) is currently 33.21%.

Wall Street Analysts Forecast Growth

INTU has been the topic of a number of recent research reports. Royal Bank of Canada initiated coverage on Intuit in a research note on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 price target on the stock. Susquehanna reiterated a “positive” rating and set a $757.00 target price on shares of Intuit in a research report on Friday, August 16th. Stifel Nicolaus upped their price target on shares of Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a report on Saturday, August 31st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $720.37.

Insider Activity

In related news, CFO Sandeep Aujla sold 1,061 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $651.27, for a total transaction of $690,997.47. Following the transaction, the chief financial officer now directly owns 3,333 shares of the company’s stock, valued at approximately $2,170,682.91. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Intuit news, CFO Sandeep Aujla sold 1,061 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $651.27, for a total transaction of $690,997.47. Following the completion of the sale, the chief financial officer now owns 3,333 shares in the company, valued at approximately $2,170,682.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark P. Notarainni sold 965 shares of the company’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $651.00, for a total transaction of $628,215.00. Following the transaction, the executive vice president now owns 1,020 shares in the company, valued at approximately $664,020. The disclosure for this sale can be found here. Insiders sold a total of 16,940 shares of company stock worth $10,721,252 in the last three months. Company insiders own 2.90% of the company’s stock.

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.