Great West Life Assurance Co. Can Acquires 7,179 Shares of Intuit Inc. (NASDAQ:INTU)

Great West Life Assurance Co. Can increased its holdings in Intuit Inc. (NASDAQ:INTU) by 3.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 232,114 shares of the software maker’s stock after purchasing an additional 7,179 shares during the quarter. Great West Life Assurance Co. Can’s holdings in Intuit were worth $106,873,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of Intuit by 99,673.1% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 157,291,233 shares of the software maker’s stock worth $72,069,270,000 after purchasing an additional 157,133,584 shares during the last quarter. State Street Corp grew its stake in shares of Intuit by 1.9% in the first quarter. State Street Corp now owns 11,099,653 shares of the software maker’s stock worth $4,948,558,000 after purchasing an additional 210,246 shares during the last quarter. Geode Capital Management LLC boosted its position in Intuit by 1.4% during the first quarter. Geode Capital Management LLC now owns 5,183,078 shares of the software maker’s stock valued at $2,305,151,000 after acquiring an additional 73,118 shares during the last quarter. Brown Advisory Inc. boosted its position in Intuit by 3.0% during the second quarter. Brown Advisory Inc. now owns 3,536,542 shares of the software maker’s stock valued at $1,620,408,000 after acquiring an additional 101,643 shares during the last quarter. Finally, Morgan Stanley boosted its position in Intuit by 42.5% during the fourth quarter. Morgan Stanley now owns 3,444,913 shares of the software maker’s stock valued at $1,340,830,000 after acquiring an additional 1,027,752 shares during the last quarter. Institutional investors own 82.63% of the company’s stock.

Insider Buying and Selling at Intuit

In other Intuit news, CFO Sandeep Aujla sold 10,732 shares of the stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $531.01, for a total value of $5,698,799.32. Following the completion of the sale, the chief financial officer now owns 235 shares in the company, valued at approximately $124,787.35. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Mark P. Notarainni sold 358 shares of the stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $511.29, for a total transaction of $183,041.82. Following the completion of the transaction, the executive vice president now directly owns 869 shares of the company’s stock, valued at approximately $444,311.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sandeep Aujla sold 10,732 shares of the stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $531.01, for a total transaction of $5,698,799.32. Following the transaction, the chief financial officer now directly owns 235 shares of the company’s stock, valued at $124,787.35. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,073 shares of company stock worth $22,091,651. Insiders own 3.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on INTU. Citigroup upped their price target on shares of Intuit from $495.00 to $565.00 and gave the company a “buy” rating in a research report on Monday, August 28th. Evercore ISI upped their price target on shares of Intuit from $505.00 to $530.00 and gave the company an “outperform” rating in a research report on Friday, August 25th. Stifel Nicolaus upped their price target on shares of Intuit from $475.00 to $550.00 and gave the company a “buy” rating in a research report on Friday, August 25th. Barclays upped their price target on shares of Intuit from $495.00 to $570.00 and gave the company an “overweight” rating in a research report on Friday, August 18th. Finally, Oppenheimer upped their price target on shares of Intuit from $476.00 to $530.00 and gave the company an “outperform” rating in a research report on Friday, August 25th. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $567.41.

Intuit Stock Up 0.6 %

Shares of INTU traded up $3.21 on Friday, reaching $560.16. The company’s stock had a trading volume of 1,127,087 shares, compared to its average volume of 1,578,377. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $157.01 billion, a PE ratio of 66.37, a PEG ratio of 3.37 and a beta of 1.20. Intuit Inc. has a twelve month low of $369.94 and a twelve month high of $567.03. The firm has a fifty day moving average of $521.01 and a 200-day moving average of $488.62.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, August 24th. The software maker reported $1.65 EPS for the quarter, beating the consensus estimate of $1.43 by $0.22. The firm had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.64 billion. Intuit had a net margin of 16.59% and a return on equity of 16.61%. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter last year, the business posted $0.22 EPS. Equities analysts predict that Intuit Inc. will post 11.25 EPS for the current year.

Intuit Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 17th. Shareholders of record on Monday, October 9th were paid a $0.90 dividend. This is a positive change from Intuit’s previous quarterly dividend of $0.78. The ex-dividend date was Thursday, October 5th. This represents a $3.60 annualized dividend and a yield of 0.64%. Intuit’s dividend payout ratio (DPR) is 42.65%.

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.