TimesSquare Capital Management LLC Grows Holdings in Intuit Inc. (NASDAQ:INTU)

TimesSquare Capital Management LLC grew its holdings in Intuit Inc. (NASDAQ:INTU) by 4.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,635 shares of the software maker’s stock after purchasing an additional 63 shares during the period. TimesSquare Capital Management LLC’s holdings in Intuit were worth $626,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Nvwm LLC grew its position in shares of Intuit by 0.8% during the 4th quarter. Nvwm LLC now owns 3,220 shares of the software maker’s stock worth $1,223,000 after buying an additional 26 shares in the last quarter. RiverFront Investment Group LLC grew its position in shares of Intuit by 4.6% during the 1st quarter. RiverFront Investment Group LLC now owns 587 shares of the software maker’s stock worth $225,000 after buying an additional 26 shares in the last quarter. Glassman Wealth Services grew its position in shares of Intuit by 16.8% during the 1st quarter. Glassman Wealth Services now owns 188 shares of the software maker’s stock worth $72,000 after buying an additional 27 shares in the last quarter. AdvisorNet Financial Inc grew its position in shares of Intuit by 4.2% during the 1st quarter. AdvisorNet Financial Inc now owns 695 shares of the software maker’s stock worth $266,000 after buying an additional 28 shares in the last quarter. Finally, JFS Wealth Advisors LLC grew its position in shares of Intuit by 2.1% during the 1st quarter. JFS Wealth Advisors LLC now owns 1,391 shares of the software maker’s stock worth $533,000 after buying an additional 28 shares in the last quarter. 83.82% of the stock is currently owned by institutional investors and hedge funds.

Shares of INTU stock opened at $471.33 on Friday. The firm’s 50 day moving average is $420.95. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.96 and a current ratio of 1.96. The stock has a market capitalization of $128.80 billion, a PE ratio of 60.43, a P/E/G ratio of 4.25 and a beta of 1.00. Intuit Inc. has a twelve month low of $274.19 and a twelve month high of $473.71.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Monday, May 24th. The software maker reported $6.07 earnings per share for the quarter, missing the consensus estimate of $6.19 by ($0.12). The company had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.27 billion. Intuit had a net margin of 23.93% and a return on equity of 28.76%. The firm’s revenue was up 39.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.49 earnings per share. Research analysts anticipate that Intuit Inc. will post 7.26 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 19th. Shareholders of record on Monday, July 12th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend is Friday, July 9th. Intuit’s payout ratio is currently 35.98%.

INTU has been the topic of a number of recent research reports. William Blair reissued an “outperform” rating on shares of Intuit in a research report on Wednesday, May 12th. KeyCorp raised their price objective on Intuit from $450.00 to $475.00 and gave the company an “overweight” rating in a research report on Wednesday, May 26th. Wolfe Research initiated coverage on Intuit in a research report on Thursday, April 22nd. They set an “outperform” rating and a $475.00 price objective on the stock. Morgan Stanley raised their price objective on Intuit from $470.00 to $511.00 and gave the company an “overweight” rating in a research report on Wednesday, May 26th. Finally, Citigroup raised their price objective on Intuit from $383.00 to $411.00 and gave the company a “neutral” rating in a research report on Friday, February 12th. Five analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. Intuit currently has a consensus rating of “Buy” and a consensus price target of $465.71.

In other Intuit news, Chairman Brad D. Smith sold 163,061 shares of the firm’s stock in a transaction that occurred on Thursday, May 27th. The stock was sold at an average price of $431.50, for a total value of $70,360,821.50. Following the sale, the chairman now directly owns 517,568 shares of the company’s stock, valued at $223,330,592. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Michelle M. Clatterbuck sold 414 shares of the firm’s stock in a transaction that occurred on Thursday, May 27th. The shares were sold at an average price of $436.21, for a total value of $180,590.94. Following the completion of the sale, the chief financial officer now directly owns 546 shares in the company, valued at $238,170.66. The disclosure for this sale can be found here. Over the last three months, insiders sold 168,912 shares of company stock worth $72,890,386. 3.38% of the stock is owned by corporate insiders.

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 three segments: Small Business & Self-Employed, Consumer, and Strategic Partner.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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