Crescent Sterling Ltd. Purchases 638 Shares of Intuit Inc. (NASDAQ:INTU)

Crescent Sterling Ltd. boosted its position in shares of Intuit Inc. (NASDAQ:INTU) by 111.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,211 shares of the software maker’s stock after buying an additional 638 shares during the quarter. Crescent Sterling Ltd.’s holdings in Intuit were worth $744,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in INTU. Copia Wealth Management bought a new position in Intuit during the 4th quarter valued at approximately $25,000. NewSquare Capital LLC raised its holdings in shares of Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after acquiring an additional 18 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of Intuit during the fourth quarter valued at approximately $28,000. Heck Capital Advisors LLC bought a new position in Intuit in the 4th quarter worth $28,000. Finally, VSM Wealth Advisory LLC bought a new position in Intuit in the 4th quarter worth $35,000. 83.66% of the stock is currently owned by institutional investors.

Intuit Stock Down 0.9%

NASDAQ:INTU opened at $764.38 on Tuesday. The firm has a market cap of $213.22 billion, a P/E ratio of 74.21, a P/E/G ratio of 2.85 and a beta of 1.28. 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 Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $773.45. The firm has a 50-day simple moving average of $649.11 and a two-hundred day simple moving average of $626.71.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, beating the consensus estimate of $10.89 by $0.76. The company had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter last year, the firm earned $9.88 earnings per share. Analysts predict that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 10th will be issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date is Thursday, July 10th. Intuit’s payout ratio is 33.77%.

Insiders Place Their Bets

In other news, EVP Marianna Tessel sold 34,329 shares of Intuit stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $760.84, for a total value of $26,118,876.36. Following the completion of the sale, the executive vice president now directly owns 40,767 shares in the company, valued at $31,017,164.28. The trade was a 45.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Alex G. Balazs sold 1,459 shares of Intuit stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $770.80, for a total transaction of $1,124,597.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 225,592 shares of company stock valued at $165,325,437. Corporate insiders own 2.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on INTU. The Goldman Sachs Group increased their price target on shares of Intuit from $750.00 to $860.00 and gave the stock a “buy” rating in a research note on Monday, May 19th. BMO Capital Markets reissued an “outperform” rating and issued a $820.00 target price (up previously from $714.00) on shares of Intuit in a research report on Friday, May 23rd. UBS Group set a $750.00 price objective on Intuit and gave the stock a “neutral” rating in a report on Friday, May 23rd. Susquehanna reiterated a “positive” rating on shares of Intuit in a report on Friday, May 23rd. Finally, Evercore ISI increased their price target on shares of Intuit from $685.00 to $785.00 and gave the stock an “outperform” rating in a research note on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $785.33.

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.