Ninety One SA PTY Ltd Buys 689 Shares of Intuit Inc. (NASDAQ:INTU)

Ninety One SA PTY Ltd raised its stake in Intuit Inc. (NASDAQ:INTU) by 8.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,671 shares of the software maker’s stock after buying an additional 689 shares during the quarter. Ninety One SA PTY Ltd’s holdings in Intuit were worth $5,420,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. NewSquare Capital LLC bought a new stake in shares of Intuit in the third quarter worth $25,000. Cape Investment Advisory Inc. bought a new stake in shares of Intuit in the third quarter worth $26,000. Steward Financial Group LLC lifted its position in shares of Intuit by 50.0% in the third quarter. Steward Financial Group LLC now owns 60 shares of the software maker’s stock worth $30,000 after purchasing an additional 20 shares in the last quarter. Aspire Private Capital LLC lifted its position in shares of Intuit by 144.4% in the third quarter. Aspire Private Capital LLC now owns 66 shares of the software maker’s stock worth $34,000 after purchasing an additional 39 shares in the last quarter. Finally, Webster Bank N. A. bought a new stake in shares of Intuit in the fourth quarter worth $41,000. Institutional investors own 83.66% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on INTU. BMO Capital Markets restated an “outperform” rating and set a $700.00 target price on shares of Intuit in a report on Tuesday, March 26th. Wells Fargo & Company boosted their target price on shares of Intuit from $615.00 to $710.00 and gave the stock an “overweight” rating in a report on Wednesday, February 21st. Oppenheimer boosted their target price on shares of Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Stifel Nicolaus boosted their target price on shares of Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a report on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $645.00.

Intuit Stock Performance

Shares of INTU stock traded down $4.99 on Thursday, hitting $608.22. The company’s stock had a trading volume of 435,916 shares, compared to its average volume of 1,238,556. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17. The stock’s 50 day moving average is $644.88 and its 200-day moving average is $598.39. Intuit Inc. has a fifty-two week low of $400.22 and a fifty-two week high of $671.01. The company has a market capitalization of $170.30 billion, a PE ratio of 62.04, a PEG ratio of 3.72 and a beta of 1.21.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.33. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The business had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.39 billion. During the same quarter in the prior year, the business posted $1.05 earnings per share. Intuit’s revenue was up 11.3% compared to the same quarter last year. Equities research analysts expect that Intuit Inc. will post 11.27 earnings per share for the current fiscal year.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Wednesday, April 10th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a yield of 0.59%. Intuit’s dividend payout ratio (DPR) is presently 36.73%.

Insider Activity at Intuit

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

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.