ICICI Prudential Asset Management Co Ltd Has $2.27 Million Holdings in Intuit Inc. (NASDAQ:INTU)

ICICI Prudential Asset Management Co Ltd lifted its holdings in Intuit Inc. (NASDAQ:INTU) by 18.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,649 shares of the software maker’s stock after purchasing an additional 579 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in Intuit were worth $2,266,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of INTU. Kovack Advisors Inc. raised its holdings in Intuit by 4.8% in the 3rd quarter. Kovack Advisors Inc. now owns 393 shares of the software maker’s stock worth $244,000 after acquiring an additional 18 shares during the period. Oppenheimer Asset Management Inc. raised its holdings in Intuit by 0.5% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 52,322 shares of the software maker’s stock worth $32,492,000 after acquiring an additional 243 shares during the period. Pinnacle Financial Partners Inc raised its holdings in Intuit by 2.6% in the 3rd quarter. Pinnacle Financial Partners Inc now owns 16,651 shares of the software maker’s stock worth $10,340,000 after acquiring an additional 419 shares during the period. MQS Management LLC bought a new position in Intuit in the 3rd quarter worth $373,000. Finally, Simmons Bank raised its holdings in Intuit by 2.3% in the 3rd quarter. Simmons Bank now owns 842 shares of the software maker’s stock worth $523,000 after acquiring an additional 19 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other Intuit news, CFO Sandeep Aujla sold 862 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total value of $535,327.86. Following the completion of the sale, the chief financial officer now owns 3,840 shares of the company’s stock, valued at approximately $2,384,755.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Intuit news, CFO Sandeep Aujla sold 862 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total value of $535,327.86. Following the completion of the sale, the chief financial officer now owns 3,840 shares of the company’s stock, valued at approximately $2,384,755.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Alex G. Balazs sold 2,941 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the completion of the sale, the executive vice president now directly owns 20 shares of the company’s stock, valued at $12,575.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,297 shares of company stock valued at $35,220,046. Corporate insiders own 2.90% of the company’s stock.

Intuit Trading Up 1.8 %

NASDAQ INTU traded up $12.42 during trading hours on Wednesday, hitting $711.89. The company’s stock had a trading volume of 253,037 shares, compared to its average volume of 1,326,112. The stock has a fifty day moving average of $628.37 and a 200 day moving average of $628.67. Intuit Inc. has a twelve month low of $541.40 and a twelve month high of $712.54. The firm has a market capitalization of $199.54 billion, a P/E ratio of 66.93, a PEG ratio of 3.41 and a beta of 1.25. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period in the prior year, the business posted $0.40 earnings per share. Intuit’s revenue was up 17.4% compared to the same quarter last year. Equities research analysts forecast that Intuit Inc. will post 14.04 earnings per share for the current fiscal year.

Intuit Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.58%. The ex-dividend date was Thursday, October 10th. This is an increase from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio is presently 39.81%.

Analysts Set New Price Targets

Several research analysts recently commented on INTU shares. Barclays dropped their target price on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a report on Friday, August 23rd. Jefferies Financial Group boosted their price objective on shares of Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Stifel Nicolaus boosted their price objective on shares of Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Bank of America boosted their price objective on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, BMO Capital Markets boosted their price objective on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average 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.