Chicago Capital LLC Acquires 196 Shares of Intuit Inc. (NASDAQ:INTU)

Chicago Capital LLC boosted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 0.1% in the first quarter, Holdings Channel.com reports. The fund owned 145,836 shares of the software maker’s stock after buying an additional 196 shares during the quarter. Intuit comprises 2.5% of Chicago Capital LLC’s holdings, making the stock its 10th largest holding. Chicago Capital LLC’s holdings in Intuit were worth $89,542,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Intuit by 2.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker’s stock valued at $107,854,000 after purchasing an additional 3,648 shares during the period. Capitolis Liquid Global Markets LLC acquired a new position in shares of Intuit in the 4th quarter valued at $109,988,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Intuit in the 4th quarter valued at $237,244,000. Alberta Investment Management Corp acquired a new stake in Intuit during the 4th quarter worth $10,757,000. Finally, Aigen Investment Management LP acquired a new position in Intuit in the fourth quarter valued at about $2,958,000. Institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. HSBC raised Intuit from a “hold” rating to a “buy” rating and set a $699.00 price target on the stock in a research report on Wednesday, April 23rd. Oppenheimer restated an “outperform” rating and set a $742.00 target price (up from $642.00) on shares of Intuit in a report on Friday, May 23rd. Evercore ISI lifted their price target on shares of Intuit from $685.00 to $785.00 and gave the company an “outperform” rating in a research note on Friday, May 23rd. Mizuho increased their price objective on shares of Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research report on Monday, March 3rd. Finally, Hsbc Global Res raised shares of Intuit from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $787.95.

Insider Buying and Selling

In related news, EVP Alex G. Balazs sold 1,459 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $770.80, for a total value of $1,124,597.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Scott D. Cook sold 62,816 shares of the firm’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $765.99, for a total value of $48,116,427.84. Following the sale, the insider now directly owns 6,000,679 shares of the company’s stock, valued at $4,596,460,107.21. This represents a 1.04% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 288,408 shares of company stock worth $213,441,865. Company insiders own 2.68% of the company’s stock.

Intuit Trading Up 1.9%

NASDAQ INTU opened at $768.08 on Tuesday. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $773.45. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a 50 day moving average of $669.33 and a 200-day moving average of $631.09. The company has a market cap of $214.25 billion, a PE ratio of 74.57, a PEG ratio of 2.85 and a beta of 1.28.

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

Intuit Announces Dividend

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

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.