Healthcare of Ontario Pension Plan Trust Fund Acquires 42,685 Shares of Intuit Inc. (NASDAQ:INTU)

Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Intuit Inc. (NASDAQ:INTU) by 84.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 93,025 shares of the software maker’s stock after buying an additional 42,685 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Intuit were worth $61,137,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Wellington Management Group LLP grew its position in shares of Intuit by 173.0% in the 4th quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock worth $2,304,850,000 after buying an additional 2,336,654 shares during the last quarter. Lone Pine Capital LLC purchased a new position in Intuit in the fourth quarter worth $467,852,000. Capital World Investors increased its position in shares of Intuit by 54.7% during the fourth quarter. Capital World Investors now owns 1,176,711 shares of the software maker’s stock worth $735,480,000 after purchasing an additional 416,099 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Intuit by 940.4% during the 1st quarter. SG Americas Securities LLC now owns 315,670 shares of the software maker’s stock valued at $205,186,000 after purchasing an additional 285,328 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Intuit by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock worth $16,937,502,000 after purchasing an additional 283,291 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Trading Up 0.2 %

Intuit stock opened at $607.28 on Thursday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The firm has a market cap of $169.76 billion, a PE ratio of 56.02, a P/E/G ratio of 3.13 and a beta of 1.24. The stock’s 50 day simple moving average is $633.74 and its two-hundred day simple moving average is $629.91. Intuit Inc. has a 12 month low of $473.56 and a 12 month high of $676.62.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating the consensus estimate of $1.85 by $0.14. The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The firm’s revenue was up 17.4% on a year-over-year basis. During the same quarter last year, the business earned $0.40 earnings per share. Analysts anticipate that Intuit Inc. will post 14.07 earnings per share for the current year.

Intuit Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be given a dividend of $1.04 per share. The ex-dividend date is Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.69%. This is an increase from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio is currently 38.38%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Susquehanna reaffirmed a “positive” rating and set a $757.00 target price on shares of Intuit in a research report on Friday, August 16th. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a report on Monday. Barclays lowered their target price on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a research note on Friday, August 23rd. JPMorgan Chase & Co. upped their price target on shares of Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Finally, Stifel Nicolaus lifted their price objective on shares of Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $735.71.

Insider Buying and Selling at Intuit

In other news, CFO Sandeep Aujla sold 862 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total transaction of $535,327.86. Following the completion of the transaction, the chief financial officer now directly owns 3,840 shares of the company’s stock, valued at approximately $2,384,755.20. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Sandeep Aujla sold 862 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total transaction of $535,327.86. Following the completion of the sale, the chief financial officer now owns 3,840 shares of the company’s stock, valued at $2,384,755.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Alex G. Balazs sold 2,941 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the completion of the transaction, the executive vice president now directly owns 20 shares in the company, valued at $12,575.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,522 shares of company stock valued at $32,284,911. Company insiders own 2.90% of the company’s stock.

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.