Geneva Capital Management LLC Has $46.02 Million Stock Position in Intuit Inc. (NASDAQ:INTU)

Geneva Capital Management LLC reduced its stake in Intuit Inc. (NASDAQ:INTU) by 2.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 70,800 shares of the software maker’s stock after selling 1,605 shares during the period. Geneva Capital Management LLC’s holdings in Intuit were worth $46,020,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of INTU. Norges Bank bought a new position in shares of Intuit during the fourth quarter valued at $2,101,848,000. Wellington Management Group LLP boosted its position in Intuit by 173.0% in the fourth quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock valued at $2,304,850,000 after buying an additional 2,336,654 shares in the last quarter. Lone Pine Capital LLC bought a new stake in Intuit during the fourth quarter worth about $467,852,000. Parnassus Investments LLC increased its holdings in shares of Intuit by 119.0% during the fourth quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock worth $836,377,000 after buying an additional 727,185 shares in the last quarter. Finally, International Assets Investment Management LLC raised its stake in shares of Intuit by 60,534.9% in the fourth quarter. International Assets Investment Management LLC now owns 472,952 shares of the software maker’s stock valued at $295,609,000 after acquiring an additional 472,172 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Down 0.5 %

Shares of NASDAQ:INTU traded down $3.43 during trading on Thursday, hitting $629.41. 1,234,343 shares of the company’s stock traded hands, compared to its average volume of 1,342,521. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average price of $623.01 and a 200-day moving average price of $630.38. Intuit Inc. has a 52 week low of $469.23 and a 52 week high of $676.62. The company has a market cap of $175.95 billion, a price-to-earnings ratio of 58.07, a price-to-earnings-growth ratio of 3.77 and a beta of 1.23.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, May 23rd. The software maker reported $9.88 earnings per share for the quarter, beating analysts’ consensus estimates of $8.12 by $1.76. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The firm had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.65 billion. During the same quarter in the previous year, the firm posted $7.80 earnings per share. The business’s revenue was up 11.9% on a year-over-year basis. As a group, research analysts forecast that Intuit Inc. will post 11.72 EPS for the current fiscal year.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Wednesday, July 10th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.57%. Intuit’s dividend payout ratio (DPR) is 33.21%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on INTU. Citigroup raised their price target on Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a report on Friday, June 28th. Wells Fargo & Company lifted their price target on Intuit from $725.00 to $750.00 and gave the company an “overweight” rating in a report on Tuesday, May 21st. Royal Bank of Canada assumed coverage on shares of Intuit in a research report on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 price target on the stock. Jefferies Financial Group reaffirmed a “buy” rating and issued a $770.00 target price on shares of Intuit in a research note on Thursday, June 13th. Finally, Susquehanna decreased their price target on shares of Intuit from $775.00 to $757.00 and set a “positive” rating on the stock in a research note on Friday, May 24th. Five analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $687.22.

Insider Transactions at Intuit

In related news, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total value of $44,838,750.00. Following the sale, the insider now owns 6,791,469 shares of the company’s stock, valued at approximately $4,060,279,741.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Scott D. Cook sold 75,000 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $597.85, for a total transaction of $44,838,750.00. Following the completion of the transaction, the insider now owns 6,791,469 shares in the company, valued at $4,060,279,741.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark P. Notarainni sold 465 shares of Intuit stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total transaction of $281,129.70. Following the completion of the sale, the executive vice president now owns 869 shares in the company, valued at $525,380.02. The disclosure for this sale can be found here. Insiders sold 195,963 shares of company stock valued at $114,442,445 over the last three months. Company insiders own 2.90% of the company’s stock.

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.