Intuit Inc. (NASDAQ:INTU) Stock Holdings Raised by Fernbridge Capital Management LP

Fernbridge Capital Management LP grew its position in shares of Intuit Inc. (NASDAQ:INTU) by 10.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 130,902 shares of the software maker’s stock after acquiring an additional 12,822 shares during the period. Intuit accounts for approximately 5.0% of Fernbridge Capital Management LP’s holdings, making the stock its 6th largest holding. Fernbridge Capital Management LP’s holdings in Intuit were worth $81,290,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of INTU. LGT Financial Advisors LLC purchased a new position in shares of Intuit during the second quarter worth approximately $25,000. Cultivar Capital Inc. purchased a new position in Intuit in the 2nd quarter worth $26,000. Fairway Wealth LLC bought a new stake in Intuit in the second quarter worth $26,000. Northwest Investment Counselors LLC purchased a new stake in Intuit during the third quarter valued at about $27,000. Finally, Hobbs Group Advisors LLC bought a new position in shares of Intuit during the second quarter valued at about $35,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Price Performance

Shares of INTU opened at $638.83 on Wednesday. The firm’s 50-day simple moving average is $634.46 and its two-hundred day simple moving average is $631.29. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The stock has a market cap of $178.90 billion, a PE ratio of 62.02, a price-to-earnings-growth ratio of 3.14 and a beta of 1.25. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

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

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Thursday, January 9th. Intuit’s payout ratio is 40.39%.

Insider Activity at Intuit

In related news, EVP Alex G. Balazs sold 2,941 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the sale, the executive vice president now directly owns 20 shares of the company’s stock, valued at $12,575.20. This trade represents a 99.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Sandeep Aujla sold 775 shares of the business’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total value of $466,015.25. Following the completion of the transaction, the chief financial officer now directly owns 4,451 shares of the company’s stock, valued at approximately $2,676,430.81. This trade represents a 14.83 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,265 shares of company stock valued at $35,200,125. 2.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

INTU has been the subject of a number of recent research reports. Jefferies Financial Group boosted their target price on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a research note on Friday, November 22nd. Morgan Stanley lifted their target price on shares of Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research note on Friday, November 22nd. Oppenheimer increased their price target on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $737.44.

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.