Harvest Fund Management Co. Ltd Buys 2,077 Shares of Intuit Inc. (NASDAQ:INTU)

Harvest Fund Management Co. Ltd lifted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 12.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,551 shares of the software maker’s stock after acquiring an additional 2,077 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Intuit were worth $11,386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in INTU. Geode Capital Management LLC raised its holdings in Intuit by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker’s stock worth $3,833,720,000 after buying an additional 132,384 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Intuit by 13.3% during the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock worth $3,329,115,000 after acquiring an additional 620,559 shares in the last quarter. Brown Advisory Inc. raised its holdings in shares of Intuit by 7.9% in the 1st quarter. Brown Advisory Inc. now owns 3,444,600 shares of the software maker’s stock worth $2,114,950,000 after acquiring an additional 252,265 shares during the last quarter. Northern Trust Corp boosted its stake in Intuit by 17.3% during the 4th quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker’s stock valued at $2,118,682,000 after purchasing an additional 498,030 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Intuit by 33.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,072,021 shares of the software maker’s stock worth $1,930,765,000 after purchasing an additional 771,232 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Richard L. Dalzell sold 333 shares of Intuit stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $768.43, for a total transaction of $255,887.19. Following the sale, the director directly owned 15,474 shares in the company, valued at $11,890,685.82. The trade was a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Sandeep Aujla sold 2,591 shares of the company’s stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $782.22, for a total transaction of $2,026,732.02. Following the completion of the sale, the chief financial officer directly owned 768 shares in the company, valued at $600,744.96. This represents a 77.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 279,800 shares of company stock valued at $209,725,054 over the last quarter. 2.68% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. KeyCorp reiterated an “overweight” rating and set a $850.00 price target (up from $770.00) on shares of Intuit in a report on Friday, May 23rd. Citigroup reissued a “buy” rating and issued a $789.00 price target (up from $726.00) on shares of Intuit in a report on Friday, May 23rd. Evercore ISI raised their price objective on shares of Intuit from $685.00 to $785.00 and gave the stock an “outperform” rating in a report on Friday, May 23rd. UBS Group set a $750.00 price objective on shares of Intuit and gave the stock a “neutral” rating in a research report on Friday, May 23rd. Finally, JPMorgan Chase & Co. increased their target price on shares of Intuit from $660.00 to $770.00 and gave the company an “overweight” rating in a research report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $806.27.

Intuit Price Performance

Shares of Intuit stock opened at $798.73 on Tuesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $800.50. The company has a fifty day moving average of $757.95 and a 200-day moving average of $657.44. The stock has a market capitalization of $222.81 billion, a price-to-earnings ratio of 64.83, a price-to-earnings-growth ratio of 3.49 and a beta of 1.27.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data 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. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The firm had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the previous year, the company posted $9.88 earnings per share. The business’s revenue was up 15.1% on a year-over-year basis. Equities research analysts expect that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 10th were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.52%. The ex-dividend date was Thursday, July 10th. Intuit’s dividend payout ratio (DPR) is currently 33.77%.

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.