Employers Holdings Inc. Invests $444,000 in Intuit Inc. (NASDAQ:INTU)

Employers Holdings Inc. acquired a new position in Intuit Inc. (NASDAQ:INTU) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,700 shares of the software maker’s stock, valued at approximately $444,000.

Several other institutional investors have also recently modified their holdings of INTU. Janus Henderson Group PLC grew its position in shares of Intuit by 28.7% in the 2nd quarter. Janus Henderson Group PLC now owns 4,752,482 shares of the software maker’s stock worth $1,241,949,000 after buying an additional 1,060,033 shares during the last quarter. FMR LLC grew its position in shares of Intuit by 10.0% in the 1st quarter. FMR LLC now owns 10,219,799 shares of the software maker’s stock worth $2,671,557,000 after buying an additional 930,221 shares during the last quarter. Ellis Investment Partners LLC grew its position in shares of Intuit by 26,041.0% in the 1st quarter. Ellis Investment Partners LLC now owns 901,864 shares of the software maker’s stock worth $901,000 after buying an additional 898,414 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Intuit by 25.7% in the 1st quarter. JPMorgan Chase & Co. now owns 2,037,451 shares of the software maker’s stock worth $532,611,000 after buying an additional 416,794 shares during the last quarter. Finally, Thoroughbred Financial Services LLC grew its position in shares of Intuit by 27,128.6% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 364,319 shares of the software maker’s stock worth $36,432,000 after buying an additional 362,981 shares during the last quarter. 88.48% of the stock is currently owned by hedge funds and other institutional investors.

INTU stock traded up $2.52 during trading on Friday, reaching $270.96. The company had a trading volume of 1,044,200 shares, compared to its average volume of 1,193,083. The firm has a 50-day simple moving average of $275.06 and a 200-day simple moving average of $256.13. The company has a market cap of $70.24 billion, a price-to-earnings ratio of 59.81, a price-to-earnings-growth ratio of 2.69 and a beta of 1.10. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.85 and a current ratio of 1.85. Intuit Inc. has a twelve month low of $182.61 and a twelve month high of $284.97.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, May 23rd. The software maker reported $5.55 EPS for the quarter, topping analysts’ consensus estimates of $5.12 by $0.43. The company had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.23 billion. Intuit had a net margin of 24.34% and a return on equity of 52.65%. Intuit’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same period last year, the business earned $4.82 EPS. Sell-side analysts expect that Intuit Inc. will post 5.49 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 18th. Shareholders of record on Wednesday, July 10th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend was Tuesday, July 9th. Intuit’s payout ratio is 41.50%.

In other Intuit news, Chairman Scott D. Cook sold 103,817 shares of Intuit stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $258.59, for a total transaction of $26,846,038.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michelle M. Clatterbuck sold 10,628 shares of Intuit stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $256.27, for a total transaction of $2,723,637.56. Following the sale, the chief financial officer now owns 10,628 shares of the company’s stock, valued at $2,723,637.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 277,296 shares of company stock valued at $72,342,898. Company insiders own 4.60% of the company’s stock.

A number of research analysts have recently issued reports on the stock. Credit Suisse Group lifted their price objective on shares of Intuit from $260.00 to $265.00 and gave the stock an “outperform” rating in a research report on Friday, May 24th. Zacks Investment Research downgraded shares of Intuit from a “buy” rating to a “hold” rating and set a $268.00 price objective on the stock. in a research report on Wednesday, May 29th. KeyCorp lifted their price objective on shares of Intuit from $280.00 to $285.00 and gave the stock an “overweight” rating in a research report on Friday, May 24th. Morgan Stanley lifted their price objective on shares of Intuit from $239.00 to $244.00 and gave the stock an “equal weight” rating in a research report on Friday, May 24th. Finally, Barclays lifted their target price on shares of Intuit from $225.00 to $237.00 and gave the stock an “equal weight” rating in a research note on Friday, May 24th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Intuit presently has an average rating of “Buy” and an average target price of $254.15.

About Intuit

Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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