Raymond James & Associates Boosts Position in Intuit Inc. (NASDAQ:INTU)

Raymond James & Associates raised its stake in shares of Intuit Inc. (NASDAQ:INTU) by 1.7% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 455,881 shares of the software maker’s stock after purchasing an additional 7,719 shares during the period. Raymond James & Associates owned 0.16% of Intuit worth $296,323,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Edge Financial Advisors LLC bought a new stake in Intuit during the first quarter valued at about $495,000. Ashton Thomas Private Wealth LLC grew its holdings in Intuit by 17.0% during the first quarter. Ashton Thomas Private Wealth LLC now owns 5,708 shares of the software maker’s stock valued at $3,710,000 after purchasing an additional 829 shares during the period. Maryland State Retirement & Pension System grew its holdings in Intuit by 0.4% during the first quarter. Maryland State Retirement & Pension System now owns 21,350 shares of the software maker’s stock valued at $13,077,000 after purchasing an additional 82 shares during the period. Cohen Investment Advisors LLC grew its holdings in Intuit by 11.0% during the first quarter. Cohen Investment Advisors LLC now owns 6,245 shares of the software maker’s stock valued at $4,059,000 after purchasing an additional 621 shares during the period. Finally, Teamwork Financial Advisors LLC bought a new stake in Intuit during the first quarter valued at about $8,533,000. Institutional investors own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

INTU has been the subject of a number of recent analyst reports. StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a research note on Monday, April 22nd. Mizuho upped their price objective on Intuit from $670.00 to $725.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Barclays upped their price objective on Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Susquehanna upped their price objective on Intuit from $700.00 to $775.00 and gave the stock a “positive” rating in a research note on Friday, February 23rd. Finally, Oppenheimer upped their price objective on Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Five equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, Intuit has a consensus rating of “Moderate Buy” and a consensus target price of $650.23.

Intuit Stock Up 1.6 %

NASDAQ INTU traded up $10.16 during midday trading on Friday, hitting $636.55. 1,192,496 shares of the company traded hands, compared to its average volume of 1,208,945. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. The company has a market cap of $178.23 billion, a PE ratio of 64.95, a price-to-earnings-growth ratio of 3.88 and a beta of 1.21. Intuit Inc. has a 52 week low of $400.22 and a 52 week high of $671.01. The company’s 50-day simple moving average is $640.26 and its 200-day simple moving average is $603.61.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.33. The firm had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The business’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.05 EPS. As a group, equities research analysts forecast that Intuit Inc. will post 11.27 earnings per share for the current year.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th were given a $0.90 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.57%. Intuit’s payout ratio is 36.73%.

Insider Transactions at Intuit

In related news, EVP Kerry J. Mclean sold 3,692 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the completion of the transaction, the executive vice president now owns 22,948 shares in the company, valued at approximately $15,233,800.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Kerry J. Mclean sold 3,692 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the completion of the transaction, the executive vice president now owns 22,948 shares in the company, valued at approximately $15,233,800.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Lauren D. Hotz sold 745 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $655.13, for a total value of $488,071.85. Following the completion of the transaction, the chief accounting officer now owns 3,180 shares of the company’s stock, valued at approximately $2,083,313.40. The disclosure for this sale can be found here. Insiders sold 4,717 shares of company stock valued at $3,117,156 in the last quarter. 2.90% of the stock is currently owned by corporate insiders.

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.