Geneva Partners LLC Makes New Investment in Intuit Inc. (NASDAQ:INTU)

Geneva Partners LLC acquired a new stake in Intuit Inc. (NASDAQ:INTU) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 576 shares of the software maker’s stock, valued at approximately $360,000.

A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Intuit by 0.5% in the third quarter. Vanguard Group Inc. now owns 25,331,318 shares of the software maker’s stock valued at $12,942,784,000 after acquiring an additional 117,478 shares during the period. State Street Corp boosted its holdings in Intuit by 1.9% during the first quarter. State Street Corp now owns 11,099,653 shares of the software maker’s stock worth $4,948,558,000 after buying an additional 210,246 shares in the last quarter. FMR LLC grew its position in Intuit by 5.0% during the third quarter. FMR LLC now owns 5,636,635 shares of the software maker’s stock valued at $2,879,982,000 after buying an additional 266,803 shares during the period. Morgan Stanley increased its holdings in Intuit by 3.7% in the third quarter. Morgan Stanley now owns 3,848,401 shares of the software maker’s stock valued at $1,966,304,000 after buying an additional 137,198 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of Intuit by 5.2% in the third quarter. Northern Trust Corp now owns 3,212,771 shares of the software maker’s stock worth $1,641,533,000 after acquiring an additional 160,229 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Trading Down 0.5 %

NASDAQ INTU traded down $3.21 on Friday, reaching $605.17. 1,607,538 shares of the company were exchanged, compared to its average volume of 1,248,751. Intuit Inc. has a fifty-two week low of $400.22 and a fifty-two week high of $671.01. The stock has a market capitalization of $169.45 billion, a P/E ratio of 61.75, a price-to-earnings-growth ratio of 3.73 and a beta of 1.21. The business’s fifty day moving average price is $642.93 and its 200 day moving average price is $599.06. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.33. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The firm had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.39 billion. During the same quarter in the prior year, the firm posted $1.05 earnings per share. Intuit’s quarterly revenue was up 11.3% on a year-over-year basis. 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. Investors 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 annualized dividend and a yield of 0.59%. Intuit’s payout ratio is 36.73%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on INTU shares. Evercore ISI raised their target price on Intuit from $670.00 to $725.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. KeyCorp boosted their price objective on Intuit from $700.00 to $720.00 and gave the company an “overweight” rating in a research report on Wednesday, March 27th. Oppenheimer increased their target price on Intuit from $678.00 to $712.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. Barclays lifted their price target on shares of Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Finally, BMO Capital Markets restated an “outperform” rating and set a $700.00 price objective on shares of Intuit in a research report on Tuesday, March 26th. Four analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $645.00.

Insiders Place Their Bets

In related news, EVP Alex G. Balazs sold 280 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Alex G. Balazs sold 280 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Lauren D. Hotz sold 745 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $655.13, for a total value of $488,071.85. Following the completion of the sale, the chief accounting officer now directly owns 3,180 shares in the company, valued at approximately $2,083,313.40. The disclosure for this sale can be found here. Insiders sold a total of 4,717 shares of company stock valued at $3,117,156 over the last quarter. 2.90% of the stock is owned by 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.