Intuit Inc. (NASDAQ:INTU) Holdings Boosted by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd boosted its position in shares of Intuit Inc. (NASDAQ:INTU) by 14.5% during the 4th quarter, HoldingsChannel reports. The firm owned 4,987 shares of the software maker’s stock after buying an additional 632 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Intuit were worth $3,107,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in INTU. Parnassus Investments LLC grew its position in Intuit by 42,268.5% during the 3rd quarter. Parnassus Investments LLC now owns 610,954 shares of the software maker’s stock worth $312,161,000 after purchasing an additional 609,512 shares in the last quarter. Wellington Management Group LLP grew its position in Intuit by 61.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,350,929 shares of the software maker’s stock worth $690,244,000 after purchasing an additional 514,259 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Intuit by 60,534.9% during the 4th quarter. International Assets Investment Management LLC now owns 472,952 shares of the software maker’s stock valued at $295,609,000 after acquiring an additional 472,172 shares in the last quarter. FMR LLC grew its holdings in shares of Intuit by 5.0% during the 3rd quarter. FMR LLC now owns 5,636,635 shares of the software maker’s stock valued at $2,879,982,000 after acquiring an additional 266,803 shares in the last quarter. Finally, AustralianSuper Pty Ltd grew its holdings in shares of Intuit by 56.2% during the 3rd quarter. AustralianSuper Pty Ltd now owns 617,821 shares of the software maker’s stock valued at $315,669,000 after acquiring an additional 222,317 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on INTU. StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a report on Monday. BMO Capital Markets restated an “outperform” rating and set a $700.00 price target on shares of Intuit in a report on Tuesday, March 26th. Evercore ISI boosted their price target on shares of Intuit from $670.00 to $725.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Susquehanna boosted their price target on shares of Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a report on Friday, February 23rd. Finally, Wells Fargo & Company boosted their price target on shares of Intuit from $615.00 to $710.00 and gave the company an “overweight” rating in a report on Wednesday, February 21st. Five analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Intuit has a consensus rating of “Moderate Buy” and an average target price of $645.00.

Insider Activity

In other news, CAO Lauren D. Hotz sold 745 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $655.13, for a total transaction of $488,071.85. Following the completion of the transaction, the chief accounting officer now owns 3,180 shares of the company’s stock, valued at $2,083,313.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Lauren D. Hotz sold 745 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $655.13, for a total transaction of $488,071.85. Following the completion of the sale, the chief accounting officer now directly owns 3,180 shares in the company, valued at approximately $2,083,313.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,717 shares of company stock valued at $3,117,156. Insiders own 2.90% of the company’s stock.

Intuit Stock Performance

Intuit stock traded up $21.11 on Tuesday, reaching $630.88. 1,457,840 shares of the stock were exchanged, compared to its average volume of 1,248,993. The stock has a market cap of $176.65 billion, a PE ratio of 64.38, a PEG ratio of 3.68 and a beta of 1.21. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35. Intuit Inc. has a twelve month low of $400.22 and a twelve month high of $671.01. The firm has a fifty day moving average price of $641.83 and a two-hundred day moving average price of $601.63.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.33. The firm had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.39 billion. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The business’s revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.05 EPS. Sell-side analysts anticipate that Intuit Inc. will post 11.27 EPS for the current year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date was Tuesday, April 9th. Intuit’s dividend payout ratio is currently 36.73%.

Intuit Company 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.