Mitsubishi UFJ Asset Management UK Ltd. Has $2.21 Million Position in Intuit Inc. (NASDAQ:INTU)

Mitsubishi UFJ Asset Management UK Ltd. raised its stake in Intuit Inc. (NASDAQ:INTU) by 71.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,600 shares of the software maker’s stock after purchasing an additional 1,500 shares during the period. Intuit accounts for approximately 1.2% of Mitsubishi UFJ Asset Management UK Ltd.’s investment portfolio, making the stock its 20th biggest position. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in Intuit were worth $2,210,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Brighton Jones LLC grew its stake in Intuit by 61.3% during the fourth quarter. Brighton Jones LLC now owns 3,552 shares of the software maker’s stock worth $2,233,000 after buying an additional 1,350 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in Intuit by 145.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 813 shares of the software maker’s stock worth $511,000 after purchasing an additional 482 shares during the last quarter. Bank Pictet & Cie Europe AG raised its holdings in Intuit by 14.2% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 1,992 shares of the software maker’s stock worth $1,252,000 after purchasing an additional 248 shares during the last quarter. SageView Advisory Group LLC grew its position in shares of Intuit by 23.0% during the 4th quarter. SageView Advisory Group LLC now owns 518 shares of the software maker’s stock worth $326,000 after buying an additional 97 shares during the period. Finally, Main Street Financial Solutions LLC acquired a new stake in shares of Intuit during the 4th quarter worth approximately $255,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Intuit

In related news, EVP Laura A. Fennell sold 25,648 shares of the business’s stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $752.25, for a total transaction of $19,293,708.00. Following the completion of the transaction, the executive vice president owned 22,796 shares in the company, valued at $17,148,291. The trade was a 52.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Scott D. Cook sold 72,442 shares of the business’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $741.29, for a total value of $53,700,530.18. Following the transaction, the insider owned 6,063,495 shares of the company’s stock, valued at approximately $4,494,808,208.55. The trade was a 1.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 279,800 shares of company stock worth $209,725,054 over the last quarter. 2.68% of the stock is owned by insiders.

Analyst Ratings Changes

INTU has been the subject of several recent analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $850.00 price objective (up previously from $760.00) on shares of Intuit in a research report on Friday, May 23rd. BMO Capital Markets lifted their target price on Intuit from $820.00 to $870.00 and gave the stock an “outperform” rating in a research note on Thursday, July 10th. Scotiabank upgraded Intuit from a “sector perform” rating to a “sector outperform” rating and upped their price target for the company from $600.00 to $700.00 in a research report on Thursday, April 17th. Citigroup reaffirmed a “buy” rating and issued a $789.00 target price (up previously from $726.00) on shares of Intuit in a research note on Friday, May 23rd. Finally, Wall Street Zen upgraded Intuit from a “hold” rating to a “buy” rating in a report on Tuesday, April 29th. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $806.27.

Intuit Stock Performance

NASDAQ:INTU opened at $711.71 on Thursday. The company has a market cap of $198.53 billion, a price-to-earnings ratio of 57.77, a PEG ratio of 2.75 and a beta of 1.28. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45. The stock’s 50 day simple moving average is $765.97 and its two-hundred day simple moving average is $669.47. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $813.70.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, beating the consensus estimate of $10.89 by $0.76. The firm had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $9.88 EPS. As a group, equities analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 10th were issued a dividend of $1.04 per share. The ex-dividend date was Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.6%. Intuit’s payout ratio is presently 33.77%.

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.