Stanley Laman Group Ltd. Increases Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Stanley Laman Group Ltd. increased its stake in shares of Intuit Inc. (NASDAQ:INTU) by 502.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 8,669 shares of the software maker’s stock after purchasing an additional 7,229 shares during the quarter. Intuit accounts for 0.8% of Stanley Laman Group Ltd.’s holdings, making the stock its 27th biggest holding. Stanley Laman Group Ltd.’s holdings in Intuit were worth $5,323,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Brighton Jones LLC lifted its position in shares of Intuit by 61.3% during the fourth quarter. Brighton Jones LLC now owns 3,552 shares of the software maker’s stock worth $2,233,000 after purchasing an additional 1,350 shares during the last quarter. Union Bancaire Privee UBP SA bought a new stake in shares of Intuit in the 4th quarter valued at about $104,278,000. Revolve Wealth Partners LLC raised its stake in Intuit by 145.6% in the fourth quarter. Revolve Wealth Partners LLC now owns 813 shares of the software maker’s stock worth $511,000 after buying an additional 482 shares in the last quarter. Savant Capital LLC lifted its stake in shares of Intuit by 13.4% during the 4th quarter. Savant Capital LLC now owns 3,394 shares of the software maker’s stock worth $2,133,000 after purchasing an additional 401 shares during the last quarter. Finally, Sovran Advisors LLC purchased a new stake in shares of Intuit during the fourth quarter valued at about $250,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Transactions at Intuit

In related news, insider Scott D. Cook sold 72,442 shares of the firm’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $741.29, for a total transaction of $53,700,530.18. Following the completion of the sale, the insider now directly owns 6,063,495 shares in the company, valued at approximately $4,494,808,208.55. This trade represents a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 shares were 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. Insiders have sold 288,408 shares of company stock valued at $213,441,865 over the last ninety days. Insiders own 2.68% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on INTU. UBS Group set a $750.00 price objective on Intuit and gave the company a “neutral” rating in a report on Friday, May 23rd. HSBC upgraded shares of Intuit from a “hold” rating to a “buy” rating and set a $699.00 price target on the stock in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. raised their price target on shares of Intuit from $660.00 to $770.00 and gave the stock an “overweight” rating in a report on Friday, May 23rd. Morgan Stanley reiterated an “overweight” rating and set a $785.00 price objective (up from $720.00) on shares of Intuit in a research note on Friday, May 23rd. Finally, Jefferies Financial Group set a $850.00 target price on Intuit and gave the company a “buy” rating in a research report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $785.33.

Intuit Stock Performance

INTU opened at $766.21 on Friday. The firm has a fifty day moving average price of $660.65 and a 200 day moving average price of $629.50. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $773.45. The stock has a market cap of $213.73 billion, a P/E ratio of 74.39, 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 current ratio of 1.24 and a quick ratio of 1.24.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.89 by $0.76. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the prior year, the business posted $9.88 earnings per share. Intuit’s revenue for the quarter was up 15.1% on a year-over-year basis. Equities research analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

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