Sei Investments Co. Has $422.05 Million Stock Position in Intuit Inc. (NASDAQ:INTU)

Sei Investments Co. raised its stake in Intuit Inc. (NASDAQ:INTU) by 12.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 642,187 shares of the software maker’s stock after buying an additional 69,656 shares during the period. Intuit accounts for 0.6% of Sei Investments Co.’s holdings, making the stock its 25th largest holding. Sei Investments Co. owned approximately 0.23% of Intuit worth $422,050,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the business. EverSource Wealth Advisors LLC lifted its holdings in shares of Intuit by 3.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 449 shares of the software maker’s stock worth $281,000 after purchasing an additional 16 shares during the period. Fortitude Family Office LLC lifted its holdings in shares of Intuit by 2.8% during the second quarter. Fortitude Family Office LLC now owns 582 shares of the software maker’s stock worth $382,000 after purchasing an additional 16 shares during the period. WASHINGTON TRUST Co lifted its holdings in shares of Intuit by 10.5% during the second quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker’s stock worth $110,000 after purchasing an additional 16 shares during the period. Gemmer Asset Management LLC lifted its holdings in shares of Intuit by 3.7% during the second quarter. Gemmer Asset Management LLC now owns 448 shares of the software maker’s stock worth $294,000 after purchasing an additional 16 shares during the period. Finally, Capital Advisors Ltd. LLC lifted its holdings in shares of Intuit by 2.6% during the first quarter. Capital Advisors Ltd. LLC now owns 659 shares of the software maker’s stock worth $429,000 after purchasing an additional 17 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Activity

In related news, CFO Sandeep Aujla sold 1,061 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $651.27, for a total transaction of $690,997.47. Following the transaction, the chief financial officer now directly owns 3,333 shares in the company, valued at $2,170,682.91. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Sandeep Aujla sold 1,061 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $651.27, for a total transaction of $690,997.47. Following the transaction, the chief financial officer now directly owns 3,333 shares in the company, valued at $2,170,682.91. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Scott D. Cook sold 2,461 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the transaction, the insider now owns 6,453,105 shares in the company, valued at $4,111,853,974.95. The disclosure for this sale can be found here. Insiders sold 22,389 shares of company stock worth $14,231,188 over the last three months. 2.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on INTU shares. Royal Bank of Canada started coverage on shares of Intuit in a report on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 price target on the stock. Erste Group Bank reissued a “hold” rating on shares of Intuit in a research note on Friday, June 14th. BMO Capital Markets lifted their target price on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. 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. Finally, Jefferies Financial Group lifted their target price on shares of Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $720.37.

Intuit Stock Down 1.4 %

Shares of NASDAQ INTU opened at $644.99 on Friday. The stock has a market capitalization of $180.31 billion, a P/E ratio of 59.50, a P/E/G ratio of 3.14 and a beta of 1.24. The company has a 50-day moving average price of $636.82 and a 200-day moving average price of $631.30. Intuit Inc. has a 1 year low of $473.56 and a 1 year high of $676.62. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. The firm had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The business’s revenue was up 17.4% on a year-over-year basis. During the same period last year, the company earned $0.40 earnings per share. On average, equities research analysts forecast that Intuit Inc. will post 14.06 EPS for the current fiscal year.

Intuit Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be issued a dividend of $1.04 per share. This is a boost from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend is Thursday, October 10th. Intuit’s dividend payout ratio (DPR) is currently 38.38%.

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.