Intuit Inc. (NASDAQ:INTU) Shares Purchased by PKO Investment Management Joint Stock Co

PKO Investment Management Joint Stock Co grew its stake in shares of Intuit Inc. (NASDAQ:INTU) by 85.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,500 shares of the software maker’s stock after buying an additional 3,000 shares during the period. PKO Investment Management Joint Stock Co’s holdings in Intuit were worth $3,991,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Schaper Benz & Wise Investment Counsel Inc. WI raised its holdings in shares of Intuit by 1.0% in the first quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 31,279 shares of the software maker’s stock worth $19,205,000 after acquiring an additional 325 shares during the last quarter. Inscription Capital LLC acquired a new position in shares of Intuit in the first quarter worth $329,000. Grimes & Company Inc. raised its holdings in shares of Intuit by 6.6% in the first quarter. Grimes & Company Inc. now owns 390 shares of the software maker’s stock worth $240,000 after acquiring an additional 24 shares during the last quarter. Signature Wealth Management Group raised its holdings in shares of Intuit by 4.4% in the first quarter. Signature Wealth Management Group now owns 3,197 shares of the software maker’s stock worth $1,963,000 after acquiring an additional 134 shares during the last quarter. Finally, Sagespring Wealth Partners LLC raised its holdings in shares of Intuit by 37.6% in the first quarter. Sagespring Wealth Partners LLC now owns 3,212 shares of the software maker’s stock worth $1,972,000 after acquiring an additional 878 shares during the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Intuit

In other news, Director Eve B. Burton sold 1,702 shares of the company’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the completion of the sale, the director now owns 8 shares of the company’s stock, valued at $4,800. This represents a 99.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark P. Notarainni sold 469 shares of the company’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $725.00, for a total value of $340,025.00. Following the completion of the sale, the executive vice president now directly owns 19 shares of the company’s stock, valued at $13,775. The trade was a 96.11% decrease in their position. The disclosure for this sale can be found here. Insiders sold 288,408 shares of company stock valued at $213,441,865 over the last quarter. Company insiders own 2.68% of the company’s stock.

Intuit Stock Performance

Shares of NASDAQ:INTU opened at $768.08 on Tuesday. The firm has a market capitalization of $214.25 billion, a PE ratio of 74.57, a P/E/G ratio of 2.85 and a beta of 1.28. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The business has a 50-day moving average of $669.33 and a two-hundred day moving average of $631.09. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $773.45.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, topping the consensus estimate of $10.89 by $0.76. The company had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.56 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm’s revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the firm posted $9.88 earnings per share. As a group, research analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.54%. The ex-dividend date is Thursday, July 10th. Intuit’s payout ratio is 33.77%.

Analyst Ratings Changes

INTU has been the subject of a number of analyst reports. Oppenheimer reissued an “outperform” rating and issued a $742.00 price target (up from $642.00) on shares of Intuit in a report on Friday, May 23rd. Barclays reissued an “overweight” rating and issued a $815.00 price target (up from $775.00) on shares of Intuit in a report on Friday, May 23rd. BMO Capital Markets reiterated an “outperform” rating and issued a $820.00 target price (up from $714.00) on shares of Intuit in a research note on Friday, May 23rd. KeyCorp reiterated an “overweight” rating and issued a $850.00 target price (up from $770.00) on shares of Intuit in a research note on Friday, May 23rd. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $785.00 target price (up from $720.00) on shares of Intuit in a research note on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty have issued a buy rating and one has given 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 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.