Value Partners Investments Inc. Buys 314 Shares of Intuit Inc. (NASDAQ:INTU)

Value Partners Investments Inc. lifted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 9.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,677 shares of the software maker’s stock after purchasing an additional 314 shares during the period. Value Partners Investments Inc.’s holdings in Intuit were worth $2,259,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of INTU. NewSquare Capital LLC raised its holdings in shares of Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after acquiring an additional 18 shares in the last quarter. Ethos Financial Group LLC boosted its holdings in Intuit by 3.7% in the fourth quarter. Ethos Financial Group LLC now owns 508 shares of the software maker’s stock valued at $319,000 after acquiring an additional 18 shares in the last quarter. Legacy Investment Solutions LLC increased its position in Intuit by 18.0% during the 4th quarter. Legacy Investment Solutions LLC now owns 118 shares of the software maker’s stock valued at $68,000 after purchasing an additional 18 shares during the period. Financial Management Professionals Inc. raised its holdings in Intuit by 18.4% in the 1st quarter. Financial Management Professionals Inc. now owns 116 shares of the software maker’s stock worth $71,000 after purchasing an additional 18 shares in the last quarter. Finally, Chris Bulman Inc lifted its position in shares of Intuit by 1.2% in the 1st quarter. Chris Bulman Inc now owns 1,523 shares of the software maker’s stock worth $935,000 after purchasing an additional 18 shares during the period. Institutional investors own 83.66% of the company’s stock.

Analyst Ratings Changes

INTU has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Intuit from $660.00 to $770.00 and gave the company an “overweight” rating in a research report on Friday, May 23rd. Scotiabank upgraded shares of Intuit from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the company from $600.00 to $700.00 in a research report on Thursday, April 17th. Citigroup reiterated a “buy” rating and set a $789.00 price target (up previously from $726.00) on shares of Intuit in a research report on Friday, May 23rd. UBS Group set a $750.00 price target on shares of Intuit and gave the company a “neutral” rating in a research report on Friday, May 23rd. Finally, Bank of America lifted their price target on shares of Intuit from $730.00 to $875.00 and gave the company a “buy” rating in a research report on Friday, May 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Intuit presently has a consensus rating of “Moderate Buy” and an average price target of $787.95.

Intuit Stock Performance

Shares of INTU stock opened at $757.86 on Thursday. The firm has a market capitalization of $211.41 billion, a PE ratio of 61.51, a P/E/G ratio of 3.38 and a beta of 1.28. The company has a 50 day moving average price of $692.96 and a 200-day moving average price of $636.84. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $773.45. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, beating analysts’ consensus estimates of $10.89 by $0.76. The company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a return on equity of 21.46% and a net margin of 19.07%. Intuit’s revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $9.88 earnings per share. As a group, equities research analysts expect that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.55%. Intuit’s dividend payout ratio (DPR) is presently 33.77%.

Insiders Place Their Bets

In related news, EVP Marianna Tessel sold 34,329 shares of the company’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $760.84, for a total transaction of $26,118,876.36. Following the sale, the executive vice president now owns 40,767 shares of the company’s stock, valued at $31,017,164.28. This represents a 45.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Scott D. Cook sold 62,816 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $765.99, for a total transaction of $48,116,427.84. Following the completion of the transaction, the insider now directly owns 6,000,679 shares of the company’s stock, valued at approximately $4,596,460,107.21. The trade was a 1.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 271,158 shares of company stock worth $202,989,194 over the last three months. 2.68% of the stock is currently owned by company insiders.

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.