Northwestern Mutual Investment Management Company LLC boosted its stake in Intuit Inc. (NASDAQ:INTU) by 601.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 344,485 shares of the software maker’s stock after purchasing an additional 295,366 shares during the period. Intuit makes up about 0.8% of Northwestern Mutual Investment Management Company LLC’s investment portfolio, making the stock its 26th biggest holding. Northwestern Mutual Investment Management Company LLC owned approximately 0.13% of Intuit worth $38,448,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in INTU. BlackRock Inc. grew its stake in shares of Intuit by 1,542.9% during the first quarter. BlackRock Inc. now owns 17,363,857 shares of the software maker’s stock valued at $2,014,036,000 after acquiring an additional 16,306,976 shares in the last quarter. Morgan Stanley grew its stake in shares of Intuit by 38.5% during the first quarter. Morgan Stanley now owns 3,478,799 shares of the software maker’s stock valued at $403,505,000 after acquiring an additional 966,936 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Intuit by 249.1% during the first quarter. Renaissance Technologies LLC now owns 1,296,148 shares of the software maker’s stock valued at $150,340,000 after acquiring an additional 924,900 shares in the last quarter. Harbour Capital Advisors LLC grew its stake in shares of Intuit by 21,749.4% during the second quarter. Harbour Capital Advisors LLC now owns 887,304 shares of the software maker’s stock valued at $6,681,000 after acquiring an additional 883,243 shares in the last quarter. Finally, MARSHALL WACE ASIA Ltd acquired a new stake in shares of Intuit during the first quarter valued at about $99,589,000. Hedge funds and other institutional investors own 85.63% of the company’s stock.

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Several analysts have recently weighed in on INTU shares. Royal Bank Of Canada raised their target price on Intuit from $126.00 to $140.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 24th. Stifel Nicolaus raised their target price on Intuit from $115.00 to $132.00 and gave the company a “hold” rating in a research note on Wednesday, May 24th. Deutsche Bank AG raised their target price on Intuit from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, May 25th. Bank of America Corporation raised their target price on Intuit from $130.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, May 25th. Finally, Citigroup Inc. raised their target price on Intuit from $128.00 to $148.00 and gave the company a “buy” rating in a research note on Thursday, May 25th. One analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $137.59.

In other Intuit news, EVP Henry Tayloe Stansbury sold 5,350 shares of the business’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $140.25, for a total value of $750,337.50. Following the transaction, the executive vice president now directly owns 6,242 shares in the company, valued at $875,440.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Daniel A. Wernikoff sold 15,684 shares of the business’s stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $140.50, for a total transaction of $2,203,602.00. The disclosure for this sale can be found here. In the last three months, insiders sold 487,177 shares of company stock worth $65,982,286. 5.70% of the stock is currently owned by insiders.

Shares of Intuit Inc. (INTU) traded up 0.32% during trading on Monday, reaching $141.90. 1,074,863 shares of the company’s stock were exchanged. Intuit Inc. has a 52-week low of $103.22 and a 52-week high of $143.81. The company has a 50 day moving average price of $136.63 and a 200-day moving average price of $129.85. The company has a market capitalization of $36.47 billion, a PE ratio of 38.15 and a beta of 1.15.

Intuit (NASDAQ:INTU) last posted its earnings results on Tuesday, August 22nd. The software maker reported $0.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.03. The business had revenue of $842 million for the quarter, compared to analysts’ expectations of $808.82 million. Intuit had a net margin of 18.76% and a return on equity of 82.43%. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.08 earnings per share. On average, equities analysts forecast that Intuit Inc. will post $4.95 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 18th. Investors of record on Tuesday, October 10th will be paid a $0.39 dividend. The ex-dividend date is Friday, October 6th. This represents a $1.56 dividend on an annualized basis and a yield of 1.10%. This is a boost from Intuit’s previous quarterly dividend of $0.34. Intuit’s payout ratio is presently 36.56%.

Intuit Profile

Intuit Inc is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. The Company operates through three segments: Small Business, Consumer Tax and ProConnect. The Small Business segment serves and advises small businesses and the accounting professionals, and includes QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions.

Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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