Versor Investments LP Purchases Shares of 2,306 Intuit Inc. (NASDAQ:INTU)

Versor Investments LP acquired a new position in Intuit Inc. (NASDAQ:INTU) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,306 shares of the software maker’s stock, valued at approximately $1,516,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in INTU. Intech Investment Management LLC grew its stake in Intuit by 134.7% in the first quarter. Intech Investment Management LLC now owns 4,601 shares of the software maker’s stock worth $2,991,000 after purchasing an additional 2,641 shares during the period. Parnassus Investments LLC increased its stake in shares of Intuit by 119.0% in the 4th quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock worth $836,377,000 after acquiring an additional 727,185 shares in the last quarter. Maryland State Retirement & Pension System lifted its position in Intuit by 1.1% during the 4th quarter. Maryland State Retirement & Pension System now owns 21,268 shares of the software maker’s stock valued at $13,293,000 after acquiring an additional 226 shares during the period. Public Employees Retirement System of Ohio boosted its stake in Intuit by 1.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 179,801 shares of the software maker’s stock worth $112,381,000 after acquiring an additional 1,990 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in Intuit by 173.0% in the fourth quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock worth $2,304,850,000 after purchasing an additional 2,336,654 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Transactions at Intuit

In related news, EVP Mark P. Notarainni sold 965 shares of Intuit stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $651.00, for a total transaction of $628,215.00. Following the transaction, the executive vice president now directly owns 1,020 shares of the company’s stock, valued at $664,020. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Intuit news, EVP Mark P. Notarainni sold 965 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $651.00, for a total transaction of $628,215.00. Following the completion of the sale, the executive vice president now directly owns 1,020 shares of the company’s stock, valued at $664,020. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Sandeep Aujla sold 1,061 shares of Intuit stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $651.27, for a total transaction of $690,997.47. Following the completion of the transaction, the chief financial officer now directly owns 3,333 shares in the company, valued at approximately $2,170,682.91. The disclosure for this sale can be found here. In the last quarter, insiders sold 104,367 shares of company stock valued at $60,118,991. Company insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on INTU shares. Jefferies Financial Group boosted their price target on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. JPMorgan Chase & Co. increased their price objective on shares of Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Citigroup raised their price objective on shares of Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Erste Group Bank reiterated a “hold” rating on shares of Intuit in a research note on Friday, June 14th. Finally, Bank of America raised their price target on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Five analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and an average target price of $716.35.

Intuit Price Performance

Shares of NASDAQ INTU traded up $7.46 during mid-day trading on Monday, hitting $630.26. 2,069,400 shares of the company’s stock traded hands, compared to its average volume of 1,338,577. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.50. Intuit Inc. has a 1 year low of $473.56 and a 1 year high of $676.62. The company’s 50-day moving average is $640.13 and its two-hundred day moving average is $633.32. The company has a market capitalization of $176.19 billion, a P/E ratio of 58.14, a PEG ratio of 3.08 and a beta of 1.23.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The business had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter in the previous year, the business posted $0.40 earnings per share. The business’s revenue was up 17.4% compared to the same quarter last year. On average, equities analysts anticipate that Intuit Inc. will post 14.06 EPS for the current fiscal year.

Intuit Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be paid a $1.04 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This is a positive change from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a yield of 0.66%. Intuit’s dividend payout ratio is 38.38%.

About Intuit

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.