Strategy Asset Managers LLC Acquires New Holdings in Intuit Inc. (INTU)

Strategy Asset Managers LLC acquired a new position in shares of Intuit Inc. (NASDAQ:INTU) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 13,082 shares of the software maker’s stock, valued at approximately $2,975,000.

Other large investors have also recently made changes to their positions in the company. IFM Investors Pty Ltd increased its position in Intuit by 45.5% during the second quarter. IFM Investors Pty Ltd now owns 10,947 shares of the software maker’s stock worth $2,237,000 after buying an additional 3,424 shares during the last quarter. Cullinan Associates Inc. increased its position in Intuit by 58.4% during the second quarter. Cullinan Associates Inc. now owns 37,655 shares of the software maker’s stock worth $7,693,000 after buying an additional 13,880 shares during the last quarter. Capital Investment Advisors LLC acquired a new position in Intuit during the second quarter worth $217,000. Livforsakringsbolaget Skandia Omsesidigt increased its position in Intuit by 16.1% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,333 shares of the software maker’s stock worth $885,000 after buying an additional 600 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its position in Intuit by 21.7% during the second quarter. State of Alaska Department of Revenue now owns 41,903 shares of the software maker’s stock worth $8,558,000 after buying an additional 7,480 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

In related news, VP Mark J. Flournoy sold 9,292 shares of Intuit stock in a transaction dated Thursday, August 30th. The stock was sold at an average price of $218.90, for a total transaction of $2,034,018.80. Following the sale, the vice president now directly owns 2,471 shares of the company’s stock, valued at $540,901.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Henry Tayloe Stansbury sold 3,651 shares of Intuit stock in a transaction dated Friday, September 21st. The stock was sold at an average price of $221.54, for a total value of $808,842.54. Following the sale, the executive vice president now directly owns 4,048 shares in the company, valued at $896,793.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 622,236 shares of company stock worth $137,883,071. 5.59% of the stock is owned by company insiders.

Several research firms have commented on INTU. Deutsche Bank began coverage on shares of Intuit in a research report on Monday, October 8th. They set a “buy” rating and a $265.00 target price on the stock. Credit Suisse Group set a $250.00 target price on shares of Intuit and gave the stock a “buy” rating in a research report on Monday, October 15th. Zacks Investment Research raised shares of Intuit from a “hold” rating to a “buy” rating and set a $243.00 target price on the stock in a research report on Tuesday, August 28th. Citigroup increased their target price on shares of Intuit from $221.00 to $224.00 and gave the stock an “outperform” rating in a research report on Friday, August 24th. Finally, Oppenheimer raised their price target on Intuit from $206.00 to $224.00 and gave the company an “outperform” rating in a research report on Friday, August 24th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $224.29.

Shares of NASDAQ:INTU opened at $212.98 on Friday. The stock has a market capitalization of $55.09 billion, a PE ratio of 46.91, a price-to-earnings-growth ratio of 2.44 and a beta of 1.19. Intuit Inc. has a 52-week low of $150.43 and a 52-week high of $231.84. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.14 and a current ratio of 1.14.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, August 23rd. The software maker reported $0.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.09. The company had revenue of $988.00 million for the quarter, compared to the consensus estimate of $952.67 million. Intuit had a return on equity of 67.39% and a net margin of 20.31%. The firm’s revenue was up 17.3% compared to the same quarter last year. During the same period last year, the business posted $0.20 earnings per share. On average, sell-side analysts predict that Intuit Inc. will post 5.24 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, October 18th. Investors of record on Wednesday, October 10th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Tuesday, October 9th. This is an increase from Intuit’s previous quarterly dividend of $0.39. This represents a $1.88 dividend on an annualized basis and a yield of 0.88%. Intuit’s dividend payout ratio (DPR) is 41.50%.

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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