Caprock Group LLC Boosts Holdings in Intuit Inc. (NASDAQ:INTU)

Caprock Group LLC boosted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 49.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,047 shares of the software maker’s stock after buying an additional 2,332 shares during the quarter. Caprock Group LLC’s holdings in Intuit were worth $4,631,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in INTU. Vanguard Group Inc. increased its position in Intuit by 1.1% in the first quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock worth $16,937,502,000 after buying an additional 283,291 shares in the last quarter. Wellington Management Group LLP raised its stake in Intuit by 173.0% during the 4th quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock worth $2,304,850,000 after acquiring an additional 2,336,654 shares during the period. Brown Advisory Inc. raised its stake in Intuit by 2.3% during the 4th quarter. Brown Advisory Inc. now owns 3,548,119 shares of the software maker’s stock worth $2,217,681,000 after acquiring an additional 80,517 shares during the period. Norges Bank purchased a new position in Intuit during the fourth quarter valued at approximately $2,101,848,000. Finally, Fisher Asset Management LLC boosted its position in shares of Intuit by 9.5% in the fourth quarter. Fisher Asset Management LLC now owns 3,114,975 shares of the software maker’s stock worth $1,946,954,000 after purchasing an additional 270,432 shares during the period. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on INTU shares. JPMorgan Chase & Co. raised their price objective on shares of Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Erste Group Bank restated a “hold” rating on shares of Intuit in a research report on Friday, June 14th. Susquehanna reiterated a “positive” rating and set a $757.00 target price on shares of Intuit in a research report on Friday, August 16th. UBS Group boosted their price target on Intuit from $625.00 to $670.00 and gave the stock a “neutral” rating in a report on Monday, May 20th. Finally, StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research note on Saturday, August 31st. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $720.37.

Insiders Place Their Bets

In other news, insider Scott D. Cook sold 27,309 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $593.16, for a total value of $16,198,606.44. Following the sale, the insider now owns 6,524,412 shares of the company’s stock, valued at $3,870,020,221.92. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $567.75, for a total transaction of $42,581,250.00. Following the completion of the sale, the insider now directly owns 6,626,721 shares of the company’s stock, valued at approximately $3,762,320,847.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Scott D. Cook sold 27,309 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $593.16, for a total value of $16,198,606.44. Following the completion of the transaction, the insider now directly owns 6,524,412 shares in the company, valued at approximately $3,870,020,221.92. The disclosure for this sale can be found here. Insiders sold 116,308 shares of company stock valued at $67,651,926 over the last three months. 2.90% of the stock is owned by company insiders.

Intuit Stock Performance

Intuit stock opened at $615.12 on Friday. The company’s 50-day moving average price is $638.42 and its 200-day moving average price is $632.34. The company has a quick ratio of 1.50, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The company has a market cap of $171.95 billion, a PE ratio of 56.75, a price-to-earnings-growth ratio of 3.08 and a beta of 1.24. Intuit Inc. has a twelve month low of $473.56 and a twelve month high of $676.62.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.14. The company had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.40 earnings per share. On average, equities research analysts forecast that Intuit Inc. will post 14.06 EPS for the current fiscal year.

Intuit Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be given a $1.04 dividend. The ex-dividend date is Thursday, October 10th. This is an increase from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a yield of 0.68%. Intuit’s dividend payout ratio (DPR) is currently 38.38%.

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.