SRS Capital Advisors Inc. Grows Stake in Intuit Inc. (NASDAQ:INTU)

SRS Capital Advisors Inc. increased its holdings in Intuit Inc. (NASDAQ:INTU) by 3.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,436 shares of the software maker’s stock after buying an additional 84 shares during the period. SRS Capital Advisors Inc.’s holdings in Intuit were worth $1,532,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. State Street Corp raised its holdings in shares of Intuit by 1.8% in the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after acquiring an additional 221,885 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Intuit by 1.4% in the third quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker’s stock worth $3,701,762,000 after purchasing an additional 80,463 shares during the last quarter. Fisher Asset Management LLC raised its stake in Intuit by 2.9% in the third quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock valued at $2,376,984,000 after purchasing an additional 107,482 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Intuit by 3.9% during the fourth quarter. Bank of New York Mellon Corp now owns 2,386,228 shares of the software maker’s stock valued at $1,499,744,000 after purchasing an additional 88,487 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Intuit by 4.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,300,789 shares of the software maker’s stock worth $1,428,790,000 after buying an additional 87,517 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Intuit Price Performance

INTU stock opened at $613.84 on Monday. The stock has a market capitalization of $171.82 billion, a price-to-earnings ratio of 59.60, a PEG ratio of 2.85 and a beta of 1.24. The firm’s 50-day moving average price is $605.90 and its two-hundred day moving average price is $627.05. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 12-month low of $553.24 and a 12-month high of $714.78.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.68%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is currently 38.81%.

Insider Transactions at Intuit

In other Intuit news, CEO Sasan K. Goodarzi sold 75,000 shares of the company’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total value of $47,257,500.00. Following the completion of the transaction, the chief executive officer now directly owns 35,776 shares in the company, valued at approximately $22,542,457.60. This represents a 67.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sandeep Aujla sold 109 shares of Intuit stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $628.50, for a total transaction of $68,506.50. Following the sale, the chief financial officer now directly owns 1,944 shares in the company, valued at $1,221,804. The trade was a 5.31 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 218,014 shares of company stock worth $140,855,687. 2.68% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on INTU. Redburn Atlantic began coverage on shares of Intuit in a report on Wednesday, February 19th. They set a “neutral” rating for the company. Barclays lowered their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Morgan Stanley upgraded Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective for the company in a report on Wednesday, February 26th. Citigroup decreased their price objective on Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Finally, BNP Paribas lowered Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price for the company. in a research note on Wednesday, January 15th. One analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $717.88.

About Intuit

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.