IFM Investors Pty Ltd Has $37.36 Million Stock Position in Intuit Inc. (NASDAQ:INTU)

IFM Investors Pty Ltd lifted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 0.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 60,155 shares of the software maker’s stock after purchasing an additional 108 shares during the quarter. IFM Investors Pty Ltd’s holdings in Intuit were worth $37,356,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. LGT Financial Advisors LLC acquired a new stake in shares of Intuit during the 2nd quarter worth $25,000. Cultivar Capital Inc. acquired a new stake in shares of Intuit during the 2nd quarter worth $26,000. Fairway Wealth LLC acquired a new stake in shares of Intuit during the 2nd quarter worth $26,000. Northwest Investment Counselors LLC acquired a new stake in shares of Intuit during the 3rd quarter worth $27,000. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Intuit during the 2nd quarter worth $35,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Trading Up 0.4 %

Shares of INTU traded up $2.20 during mid-day trading on Thursday, reaching $604.21. 326,640 shares of the company were exchanged, compared to its average volume of 1,316,749. Intuit Inc. has a 52 week low of $473.56 and a 52 week high of $676.62. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a market capitalization of $168.91 billion, a PE ratio of 55.54, a PEG ratio of 3.04 and a beta of 1.24. The business has a 50 day simple moving average of $628.71 and a two-hundred day simple moving average of $627.16.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period last year, the company earned $0.40 earnings per share. The firm’s revenue was up 17.4% compared to the same quarter last year. On average, analysts predict that Intuit Inc. will post 14.04 earnings per share for the current fiscal year.

Intuit Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Thursday, October 10th were paid a dividend of $1.04 per share. The ex-dividend date was Thursday, October 10th. This represents a $4.16 annualized dividend and a yield of 0.69%. This is a boost from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio (DPR) is currently 38.38%.

Insider Buying and Selling

In related news, CFO Sandeep Aujla sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the completion of the sale, the chief financial officer now owns 452 shares of the company’s stock, valued at $279,010.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Intuit news, EVP Alex G. Balazs sold 2,941 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total value of $1,849,183.16. Following the completion of the sale, the executive vice president now owns 20 shares of the company’s stock, valued at approximately $12,575.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Sandeep Aujla sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $617.28, for a total value of $2,469,120.00. Following the completion of the sale, the chief financial officer now directly owns 452 shares of the company’s stock, valued at $279,010.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,297 shares of company stock valued at $35,220,046 over the last 90 days. Company insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on INTU shares. Barclays reduced their price objective on Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. Jefferies Financial Group raised their price objective on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. BMO Capital Markets raised their price objective on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Stifel Nicolaus raised their price objective on Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Finally, Citigroup raised their price objective on Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $735.71.

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.