Nippon Life Global Investors Americas Inc. Purchases 5,740 Shares of Intuit Inc. (NASDAQ:INTU)

Nippon Life Global Investors Americas Inc. lifted its position in shares of Intuit Inc. (NASDAQ:INTU – Get Rating) by 39.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,430 shares of the software maker’s stock after acquiring an additional 5,740 shares during the quarter. Nippon Life Global Investors Americas Inc.’s holdings in Intuit were worth $13,141,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. JNBA Financial Advisors bought a new stake in shares of Intuit during the fourth quarter worth $25,000. Mascoma Wealth Management LLC grew its stake in shares of Intuit by 3,900.0% during the fourth quarter. Mascoma Wealth Management LLC now owns 40 shares of the software maker’s stock worth $26,000 after purchasing an additional 39 shares during the period. Baillie Gifford & Co. acquired a new stake in shares of Intuit during the fourth quarter worth $30,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Intuit during the fourth quarter worth $54,000. Finally, Archer Investment Corp acquired a new stake in shares of Intuit during the fourth quarter worth $66,000. Institutional investors own 83.42% of the company’s stock.

A number of equities research analysts recently commented on INTU shares. KeyCorp decreased their price objective on Intuit from $700.00 to $600.00 and set an “overweight” rating for the company in a research note on Monday, February 28th. Deutsche Bank Aktiengesellschaft decreased their price objective on Intuit from $700.00 to $650.00 and set a “buy” rating for the company in a research note on Friday, February 25th. Edward Jones raised Intuit from a “hold” rating to a “buy” rating in a research note on Friday, March 11th. Evercore ISI lowered their price target on Intuit from $720.00 to $645.00 and set an “outperform” rating for the company in a report on Friday, February 25th. Finally, JPMorgan Chase & Co. cut their price objective on Intuit from $750.00 to $640.00 and set an “overweight” rating on the stock in a report on Friday, February 25th. Three investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $595.95.

In related news, EVP Laura A. Fennell sold 59,286 shares of the business’s stock in a transaction dated Wednesday, March 2nd. The stock was sold at an average price of $475.03, for a total value of $28,162,628.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James Alexander Chriss sold 368 shares of the business’s stock in a transaction dated Monday, February 28th. The shares were sold at an average price of $478.84, for a total value of $176,213.12. The disclosure for this sale can be found here. 3.27% of the stock is currently owned by company insiders.

INTU stock traded up $5.45 during midday trading on Friday, reaching $367.78. 1,921,565 shares of the company were exchanged, compared to its average volume of 2,046,952. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.18 and a quick ratio of 1.18. The business has a 50-day moving average price of $442.18 and a two-hundred day moving average price of $531.00. Intuit Inc. has a one year low of $339.36 and a one year high of $716.86. The firm has a market capitalization of $104.01 billion, a price-to-earnings ratio of 46.91, a price-to-earnings-growth ratio of 2.89 and a beta of 1.16.

Intuit (NASDAQ:INTU – Get Rating) last released its quarterly earnings data on Thursday, February 24th. The software maker reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.26). Intuit had a return on equity of 20.37% and a net margin of 19.03%. The company had revenue of $2.67 billion for the quarter, compared to the consensus estimate of $2.72 billion. During the same period last year, the firm earned $0.16 earnings per share. The company’s revenue for the quarter was up 69.6% compared to the same quarter last year. As a group, analysts anticipate that Intuit Inc. will post 8.14 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, April 18th. Stockholders of record on Monday, April 11th were issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date was Friday, April 8th. Intuit’s dividend payout ratio is currently 34.69%.

About Intuit (Get Rating)

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 ProConnect.

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