Intuit Inc. (NASDAQ:INTU) Shares Acquired by Orrstown Financial Services Inc.

Orrstown Financial Services Inc. lifted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 6.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 498 shares of the software maker’s stock after buying an additional 29 shares during the quarter. Orrstown Financial Services Inc.’s holdings in Intuit were worth $306,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in INTU. Norges Bank acquired a new position in shares of Intuit during the fourth quarter worth about $2,290,419,000. GAMMA Investing LLC grew its position in shares of Intuit by 69,701.9% during the first quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker’s stock worth $17,348,790,000 after buying an additional 2,821,534 shares in the last quarter. Proficio Capital Partners LLC grew its position in shares of Intuit by 112,233.1% during the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock worth $668,595,000 after buying an additional 1,062,847 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Intuit by 33.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,072,021 shares of the software maker’s stock worth $1,930,765,000 after buying an additional 771,232 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in Intuit by 13.3% in the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock valued at $3,329,115,000 after purchasing an additional 620,559 shares in the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on INTU. Mizuho upped their price target on Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a report on Monday, March 3rd. Hsbc Global Res raised Intuit from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 23rd. JPMorgan Chase & Co. upped their price target on Intuit from $660.00 to $770.00 and gave the company an “overweight” rating in a report on Friday, May 23rd. Scotiabank raised 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 report on Thursday, April 17th. Finally, Evercore ISI upped their price target on Intuit from $685.00 to $785.00 and gave the company an “outperform” rating in a report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $785.33.

Intuit Price Performance

Intuit stock opened at $771.58 on Friday. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $773.45. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The business has a 50 day simple moving average of $646.24 and a 200-day simple moving average of $626.21. The stock has a market capitalization of $215.23 billion, a PE ratio of 74.91, a price-to-earnings-growth ratio of 2.85 and a beta of 1.28.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, topping the consensus estimate of $10.89 by $0.76. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.56 billion. During the same quarter in the prior year, the business earned $9.88 earnings per share. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. Equities analysts predict that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit’s dividend payout ratio (DPR) is presently 33.77%.

Insider Transactions at Intuit

In other Intuit news, Director Eve B. Burton sold 1,702 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the completion of the transaction, the director now owns 8 shares in the company, valued at approximately $4,800. This represents a 99.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Scott D. Cook sold 72,442 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $741.29, for a total value of $53,700,530.18. Following the completion of the transaction, the insider now owns 6,063,495 shares of the company’s stock, valued at $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 sold 225,592 shares of company stock worth $165,325,437 over the last 90 days. 2.68% of the stock is currently 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.