Vinva Investment Management Ltd Acquires 328 Shares of Intuit Inc. (NASDAQ:INTU)

Vinva Investment Management Ltd boosted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 2.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,741 shares of the software maker’s stock after buying an additional 328 shares during the quarter. Vinva Investment Management Ltd’s holdings in Intuit were worth $7,268,000 as of its most recent SEC filing.

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

Intuit Price Performance

INTU stock opened at $636.17 on Thursday. The stock’s fifty day simple moving average is $634.52 and its 200-day simple moving average is $631.32. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78. The stock has a market capitalization of $178.15 billion, a price-to-earnings ratio of 61.76, a price-to-earnings-growth 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. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. Intuit’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.14 earnings per share. Equities research analysts expect that Intuit Inc. will post 14.05 EPS for the current year.

Intuit Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Scotiabank initiated coverage on shares of Intuit in a report on Monday, November 18th. They set a “sector perform” rating and a $700.00 target price on the stock. Jefferies Financial Group raised their price objective on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Stifel Nicolaus cut their price objective on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Bank of America raised their price target on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Finally, Morgan Stanley raised 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. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $737.44.

Insider Buying and Selling

In other news, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction on Monday, November 25th. The stock was sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the transaction, the insider now owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. The trade was a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Laura A. Fennell sold 30,159 shares of Intuit stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the completion of the sale, the executive vice president now owns 52,038 shares of the company’s stock, valued at $33,427,129.68. This trade represents a 36.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 130,265 shares of company stock valued at $83,336,625 in the last quarter. Company insiders own 2.90% of the company’s stock.

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.