Intuit Inc. (INTU) Shares Bought by Putnam Investments LLC

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Putnam Investments LLC raised its stake in Intuit Inc. (NASDAQ:INTU) by 1.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 282,753 shares of the software maker’s stock after acquiring an additional 4,826 shares during the quarter. Putnam Investments LLC’s holdings in Intuit were worth $57,767,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in INTU. FMR LLC boosted its stake in Intuit by 14.3% in the second quarter. FMR LLC now owns 10,343,136 shares of the software maker’s stock valued at $2,113,155,000 after acquiring an additional 1,290,503 shares during the last quarter. BlackRock Inc. boosted its stake in Intuit by 5.2% in the second quarter. BlackRock Inc. now owns 17,394,902 shares of the software maker’s stock valued at $3,553,866,000 after acquiring an additional 866,776 shares during the last quarter. Morgan Stanley boosted its stake in Intuit by 25.1% in the second quarter. Morgan Stanley now owns 2,623,888 shares of the software maker’s stock valued at $536,074,000 after acquiring an additional 525,743 shares during the last quarter. Millennium Management LLC boosted its stake in Intuit by 287.7% in the second quarter. Millennium Management LLC now owns 639,961 shares of the software maker’s stock valued at $130,747,000 after acquiring an additional 474,879 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its stake in Intuit by 100.5% in the second quarter. Acadian Asset Management LLC now owns 894,640 shares of the software maker’s stock valued at $182,782,000 after acquiring an additional 448,512 shares during the last quarter. Hedge funds and other institutional investors own 87.02% of the company’s stock.

Shares of INTU stock opened at $227.54 on Friday. The company has a market cap of $58.38 billion, a P/E ratio of 49.71, a price-to-earnings-growth ratio of 2.39 and a beta of 1.21. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.14 and a current ratio of 1.14. Intuit Inc. has a 12 month low of $140.21 and a 12 month high of $229.86.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, August 23rd. The software maker reported $0.32 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.09. The company had revenue of $988.00 million for the quarter, compared to analysts’ expectations of $952.67 million. Intuit had a net margin of 20.31% and a return on equity of 67.39%. Intuit’s revenue was up 17.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.20 EPS. research analysts forecast that Intuit Inc. will post 5.23 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 18th. Investors of record on Wednesday, October 10th will be paid a dividend of $0.47 per share. This is a boost from Intuit’s previous quarterly dividend of $0.39. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Tuesday, October 9th. Intuit’s dividend payout ratio is presently 34.44%.

A number of research analysts have weighed in on the stock. Oppenheimer boosted their target price on shares of Intuit from $181.00 to $206.00 and gave the company an “outperform” rating in a research note on Wednesday, May 23rd. Barclays reiterated a “hold” rating and issued a $190.00 target price on shares of Intuit in a research note on Sunday, May 20th. Zacks Investment Research upgraded shares of Intuit from a “hold” rating to a “buy” rating and set a $243.00 target price on the stock in a research note on Tuesday, August 28th. Citigroup boosted their target price on shares of Intuit from $221.00 to $224.00 and gave the company an “outperform” rating in a research note on Friday, August 24th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Intuit from $176.00 to $185.00 and gave the company a “neutral” rating in a research note on Wednesday, May 23rd. Three research analysts have rated the stock with a sell rating, five have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $216.94.

In related news, Director Dennis D. Powell sold 4,554 shares of the company’s stock in a transaction that occurred on Tuesday, August 28th. The shares were sold at an average price of $215.05, for a total transaction of $979,337.70. Following the sale, the director now owns 4,083 shares of the company’s stock, valued at approximately $878,049.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Scott D. Cook sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $220.30, for a total transaction of $22,030,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 368,201 shares of company stock worth $78,754,509 over the last 90 days. 5.59% of the stock is currently owned by corporate insiders.

Intuit Profile

Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States and internationally. The company's Small Business segment provides small business payroll products and services, including QuickBooks Desktop software products, such as Desktop Pro, Desktop for Mac, Desktop Premier, and Enterprise; QuickBooks Basic Payroll and QuickBooks Enhanced Payroll; QuickBooks Point of Sale solutions; ProAdvisor Program memberships for accounting professionals; and financial supplies.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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