Intuit Inc. (NASDAQ:INTU) Shares Acquired by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund boosted its position in Intuit Inc. (NASDAQ:INTU) by 102.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 188,140 shares of the software maker’s stock after acquiring an additional 95,115 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Intuit were worth $116,835,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. LGT Financial Advisors LLC bought a new position in Intuit in the 2nd quarter worth about $25,000. Cultivar Capital Inc. acquired a new stake in shares of Intuit during the second quarter valued at approximately $26,000. Fairway Wealth LLC acquired a new position in Intuit in the 2nd quarter valued at approximately $26,000. Northwest Investment Counselors LLC acquired a new position in Intuit in the 3rd quarter valued at approximately $27,000. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Intuit during the 2nd quarter worth $35,000. Institutional investors own 83.66% of the company’s stock.

Intuit Price Performance

INTU stock opened at $638.83 on Wednesday. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average price of $634.46 and a 200 day moving average price of $631.29. The stock has a market cap of $178.90 billion, a PE ratio of 62.02, a P/E/G ratio of 3.14 and a beta of 1.25.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same quarter in the previous year, the business posted $1.14 EPS. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. Equities research analysts anticipate that Intuit Inc. will post 14.05 earnings per share for the current year.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Thursday, January 9th. Intuit’s dividend payout ratio (DPR) is currently 40.39%.

Insider Activity

In related news, CFO Sandeep Aujla sold 862 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total transaction of $535,327.86. Following the completion of the sale, the chief financial officer now directly owns 3,840 shares in the company, valued at approximately $2,384,755.20. This trade represents a 18.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Laura A. Fennell sold 30,159 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the transaction, the executive vice president now directly owns 52,038 shares of the company’s stock, valued at approximately $33,427,129.68. This trade represents a 36.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,265 shares of company stock valued at $35,200,125 in the last ninety days. Insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on INTU. Scotiabank began coverage on shares of Intuit in a report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price target for the company. Royal Bank of Canada restated an “outperform” rating and issued a $760.00 price objective on shares of Intuit in a research report on Friday, November 22nd. Stifel Nicolaus reduced their price objective on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Bank of America lifted their price target on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Finally, Morgan Stanley lifted their price objective on shares of Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $737.44.

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.