Greenleaf Trust Boosts Position in Intuit Inc. (NASDAQ:INTU)

Greenleaf Trust increased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 2.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,112 shares of the software maker’s stock after purchasing an additional 210 shares during the quarter. Greenleaf Trust’s holdings in Intuit were worth $6,320,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in INTU. Desjardins Global Asset Management Inc. boosted its stake in shares of Intuit by 1.4% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 1,181 shares of the software maker’s stock valued at $738,000 after acquiring an additional 16 shares during the last quarter. GAM Holding AG boosted its stake in shares of Intuit by 0.3% during the fourth quarter. GAM Holding AG now owns 5,873 shares of the software maker’s stock valued at $3,671,000 after acquiring an additional 17 shares during the last quarter. Janiczek Wealth Management LLC boosted its stake in shares of Intuit by 2.4% during the fourth quarter. Janiczek Wealth Management LLC now owns 716 shares of the software maker’s stock valued at $448,000 after acquiring an additional 17 shares during the last quarter. Clear Harbor Asset Management LLC boosted its stake in shares of Intuit by 0.4% during the fourth quarter. Clear Harbor Asset Management LLC now owns 4,842 shares of the software maker’s stock valued at $3,027,000 after acquiring an additional 18 shares during the last quarter. Finally, Glenview Trust co boosted its stake in shares of Intuit by 1.9% during the third quarter. Glenview Trust co now owns 1,031 shares of the software maker’s stock valued at $527,000 after acquiring an additional 19 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Activity at Intuit

In related news, EVP Kerry J. Mclean sold 3,692 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the sale, the executive vice president now directly owns 22,948 shares in the company, valued at approximately $15,233,800.32. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the completion of the sale, the executive vice president now owns 22,948 shares in the company, valued at approximately $15,233,800.32. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 sale, the chief accounting officer now 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. In the last ninety days, insiders have sold 4,717 shares of company stock worth $3,117,156. 2.90% of the stock is currently owned by company insiders.

Intuit Trading Down 0.5 %

Shares of Intuit stock traded down $3.21 during trading hours on Friday, reaching $605.17. The stock had a trading volume of 1,607,538 shares, compared to its average volume of 1,248,751. The firm has a market capitalization of $169.45 billion, a price-to-earnings ratio of 61.62, a P/E/G ratio of 3.73 and a beta of 1.21. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35. Intuit Inc. has a 1 year low of $400.22 and a 1 year high of $671.01. The firm has a 50 day simple moving average of $643.99 and a two-hundred day simple moving average of $598.45.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, beating the consensus estimate of $2.30 by $0.33. The business had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The company’s revenue was up 11.3% on a year-over-year basis. During the same period last year, the business posted $1.05 EPS. As a group, equities research analysts anticipate that Intuit Inc. will post 11.27 earnings per share for the current year.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Wednesday, April 10th were issued a dividend of $0.90 per share. The ex-dividend date was Tuesday, April 9th. This represents a $3.60 annualized dividend and a dividend yield of 0.59%. Intuit’s payout ratio is currently 36.73%.

Analysts Set New Price Targets

A number of research firms recently commented on INTU. KeyCorp increased their price objective on Intuit from $700.00 to $720.00 and gave the company an “overweight” rating in a research note on Wednesday, March 27th. Mizuho increased their price objective on Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Susquehanna increased their price objective on Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. increased their target price on Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a research report on Friday, February 23rd. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $700.00 target price on shares of Intuit in a research report on Tuesday, March 26th. Four equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $645.00.

About Intuit

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.