Intuit Inc. (NASDAQ:INTU) Shares Purchased by Rockland Trust Co.

Rockland Trust Co. grew its position in Intuit Inc. (NASDAQ:INTU) by 4.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 37,984 shares of the software maker’s stock after purchasing an additional 1,661 shares during the period. Intuit makes up 1.2% of Rockland Trust Co.’s holdings, making the stock its 29th largest position. Rockland Trust Co.’s holdings in Intuit were worth $23,322,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of INTU. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Intuit by 2.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker’s stock valued at $107,854,000 after acquiring an additional 3,648 shares during the period. Capitolis Liquid Global Markets LLC acquired a new stake in Intuit during the 4th quarter valued at approximately $109,988,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Intuit during the 4th quarter valued at approximately $237,244,000. V Square Quantitative Management LLC lifted its stake in Intuit by 7.0% during the 4th quarter. V Square Quantitative Management LLC now owns 7,671 shares of the software maker’s stock valued at $4,821,000 after acquiring an additional 501 shares during the period. Finally, Alberta Investment Management Corp purchased a new position in shares of Intuit during the 4th quarter valued at about $10,757,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Intuit news, insider Scott D. Cook sold 72,442 shares of the firm’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $741.29, for a total transaction of $53,700,530.18. Following the completion of the sale, the insider now owns 6,063,495 shares of the company’s stock, valued at $4,494,808,208.55. This trade represents a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eve B. Burton sold 1,702 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the sale, the director now directly owns 8 shares of the company’s stock, valued at approximately $4,800. This trade represents a 99.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 288,408 shares of company stock valued at $213,441,865 in the last three months. 2.68% of the stock is currently owned by insiders.

Intuit Stock Up 0.2%

Shares of INTU opened at $766.21 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit Inc. has a one year low of $532.65 and a one year high of $773.45. The stock has a market capitalization of $213.73 billion, a price-to-earnings ratio of 74.39, a PEG ratio of 2.85 and a beta of 1.28. The stock has a 50 day moving average price of $660.65 and a 200 day moving average price of $629.50.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping the consensus estimate of $10.89 by $0.76. The firm had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period last year, the firm posted $9.88 earnings per share. Equities research analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.54%. The ex-dividend date is Thursday, July 10th. Intuit’s dividend payout ratio is currently 33.77%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on INTU shares. Scotiabank upgraded Intuit from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the company from $600.00 to $700.00 in a research note on Thursday, April 17th. Susquehanna restated a “positive” rating on shares of Intuit in a research report on Friday, May 23rd. Hsbc Global Res upgraded Intuit from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 23rd. Stifel Nicolaus lifted their price objective on shares of Intuit from $725.00 to $850.00 and gave the company a “buy” rating in a report on Friday, May 23rd. Finally, Mizuho lifted their price objective on shares of Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Intuit currently has an average rating of “Moderate Buy” and an average price target of $785.33.

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.