Price T Rowe Associates Inc. MD Has $5.54 Billion Holdings in Intuit Inc. $INTU

Price T Rowe Associates Inc. MD grew its stake in Intuit Inc. (NASDAQ:INTU) by 7.8% during the 1st quarter, HoldingsChannel.com reports. The firm owned 9,018,770 shares of the software maker’s stock after buying an additional 649,212 shares during the period. Intuit accounts for about 0.7% of Price T Rowe Associates Inc. MD’s holdings, making the stock its 21st largest position. Price T Rowe Associates Inc. MD’s holdings in Intuit were worth $5,537,435,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in INTU. GAMMA Investing LLC lifted its position in shares of Intuit by 69,701.9% in the 1st quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker’s stock worth $17,348,790,000 after acquiring an additional 2,821,534 shares during the period. Nuveen LLC acquired a new stake in Intuit during the first quarter worth $882,031,000. Nicholas Hoffman & Company LLC. bought a new position in shares of Intuit during the 1st quarter worth about $785,564,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Intuit by 33.5% during the 4th 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 valued at $1,930,765,000 after acquiring an additional 771,232 shares in the last quarter. Finally, Unisphere Establishment increased its stake in Intuit by 50.0% in the fourth quarter. Unisphere Establishment now owns 1,500,000 shares of the software maker’s stock valued at $942,750,000 after acquiring an additional 500,000 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on INTU shares. Royal Bank Of Canada restated an “outperform” rating and set a $850.00 price target (up previously from $760.00) on shares of Intuit in a research note on Friday, May 23rd. Jefferies Financial Group set a $850.00 target price on Intuit and gave the stock a “buy” rating in a research report on Friday, May 23rd. Oppenheimer boosted their price target on Intuit from $742.00 to $868.00 and gave the company an “outperform” rating in a research note on Monday, July 28th. JPMorgan Chase & Co. increased their price objective on Intuit from $660.00 to $770.00 and gave the stock an “overweight” rating in a research note on Friday, May 23rd. Finally, CLSA initiated coverage on Intuit in a report on Thursday, June 26th. They set an “outperform” rating and a $900.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $809.86.

Insider Activity

In other news, Director Richard L. Dalzell sold 333 shares of the stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $768.43, for a total transaction of $255,887.19. Following the sale, the director directly owned 15,474 shares of the company’s stock, valued at $11,890,685.82. This represents a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Mark P. Notarainni sold 1,147 shares of the firm’s stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $773.90, for a total transaction of $887,663.30. Following the completion of the sale, the executive vice president directly owned 19 shares of the company’s stock, valued at approximately $14,704.10. This represents a 98.37% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 279,800 shares of company stock worth $209,725,054. 2.68% of the stock is currently owned by insiders.

Intuit Trading Down 0.3%

INTU stock opened at $699.15 on Thursday. The business has a fifty day moving average price of $760.28 and a 200 day moving average price of $673.19. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $813.70. The stock has a market capitalization of $195.03 billion, a price-to-earnings ratio of 56.75, a P/E/G ratio of 2.70 and a beta of 1.28.

Intuit (NASDAQ:INTU) last announced its 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 21.46% and a net margin of 19.07%.The company had revenue of $7.75 billion for 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 business’s revenue for the quarter was up 15.1% on a year-over-year basis. Analysts expect that Intuit Inc. will post 14.09 EPS for the current fiscal year.

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.