Zevenbergen Capital Investments LLC Buys 25 Shares of Intuit Inc. (NASDAQ:INTU)

Zevenbergen Capital Investments LLC grew its stake in shares of Intuit Inc. (NASDAQ:INTU) by 0.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,071 shares of the software maker’s stock after buying an additional 25 shares during the period. Zevenbergen Capital Investments LLC’s holdings in Intuit were worth $15,646,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of INTU. Vanguard Group Inc. increased its position in shares of Intuit by 0.5% in the third quarter. Vanguard Group Inc. now owns 25,331,318 shares of the software maker’s stock worth $12,942,784,000 after purchasing an additional 117,478 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Intuit by 173.0% in the fourth quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock worth $2,304,850,000 after purchasing an additional 2,336,654 shares during the last quarter. Brown Advisory Inc. increased its position in shares of Intuit by 2.3% in the fourth quarter. Brown Advisory Inc. now owns 3,548,119 shares of the software maker’s stock worth $2,217,681,000 after purchasing an additional 80,517 shares during the last quarter. Norges Bank bought a new position in shares of Intuit in the fourth quarter worth approximately $2,101,848,000. Finally, Fisher Asset Management LLC increased 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 last quarter. 83.66% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the stock in a transaction 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 completion of the transaction, the insider now owns 6,791,469 shares in the company, valued at $4,060,279,741.65. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Sandeep Aujla sold 1,061 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $651.27, for a total transaction of $690,997.47. Following the completion of the transaction, the chief financial officer now directly owns 3,333 shares in the company, valued at $2,170,682.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $597.85, for a total value of $44,838,750.00. Following the transaction, the insider now owns 6,791,469 shares of the company’s stock, valued at $4,060,279,741.65. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 195,963 shares of company stock worth $114,442,445. 2.90% of the stock is owned by corporate insiders.

Intuit Trading Up 2.0 %

INTU stock traded up $12.54 on Friday, reaching $641.95. The company’s stock had a trading volume of 1,044,892 shares, compared to its average volume of 1,308,745. The business has a fifty day simple moving average of $623.58 and a two-hundred day simple moving average of $630.54. Intuit Inc. has a 12-month low of $473.56 and a 12-month high of $676.62. The firm has a market cap of $179.46 billion, a PE ratio of 59.22, a PEG ratio of 3.60 and a beta of 1.23. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.50 and a current ratio of 1.50.

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

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Wednesday, July 10th will be issued a $0.90 dividend. The ex-dividend date is Wednesday, July 10th. This represents a $3.60 dividend on an annualized basis and a yield of 0.56%. Intuit’s dividend payout ratio (DPR) is 33.21%.

Analysts Set New Price Targets

Several research firms recently weighed in on INTU. BMO Capital Markets restated an “outperform” rating and issued a $700.00 price objective on shares of Intuit in a research report on Tuesday, March 26th. Royal Bank of Canada assumed coverage on Intuit in a research note on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 target price for the company. Citigroup upped their target price on Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Wells Fargo & Company upped their target price on Intuit from $725.00 to $750.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 21st. Finally, KeyCorp upped their target price on Intuit from $720.00 to $740.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. Five equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $687.22.

Intuit Company 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.