Planned Solutions Inc. Takes Position in Intuit Inc. (NASDAQ:INTU)

Planned Solutions Inc. acquired a new position in Intuit Inc. (NASDAQ:INTU) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 672 shares of the software maker’s stock, valued at approximately $420,000.

A number of other large investors have also recently bought and sold shares of INTU. Fairfield Bush & CO. increased its stake in Intuit by 39.6% in the 1st quarter. Fairfield Bush & CO. now owns 3,648 shares of the software maker’s stock valued at $1,754,000 after buying an additional 1,035 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Intuit by 10.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 504,309 shares of the software maker’s stock worth $242,492,000 after buying an additional 48,196 shares during the period. Cetera Investment Advisers boosted its holdings in shares of Intuit by 8.4% during the 1st quarter. Cetera Investment Advisers now owns 3,227 shares of the software maker’s stock worth $1,552,000 after buying an additional 249 shares during the period. Baird Financial Group Inc. boosted its holdings in shares of Intuit by 7.1% during the 1st quarter. Baird Financial Group Inc. now owns 53,691 shares of the software maker’s stock worth $25,825,000 after buying an additional 3,576 shares during the period. Finally, Mackenzie Financial Corp increased its holdings in shares of Intuit by 6.6% during the first quarter. Mackenzie Financial Corp now owns 34,207 shares of the software maker’s stock worth $16,448,000 after purchasing an additional 2,127 shares during the period. 83.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Laura A. Fennell sold 14,772 shares of Intuit stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $598.52, for a total transaction of $8,841,337.44. Following the transaction, the executive vice president now directly owns 50,030 shares of the company’s stock, valued at $29,943,955.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the completion of the sale, the executive vice president now directly owns 22,948 shares in the company, valued at $15,233,800.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Laura A. Fennell sold 14,772 shares of the business’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $598.52, for a total transaction of $8,841,337.44. Following the transaction, the executive vice president now owns 50,030 shares of the company’s stock, valued at $29,943,955.60. The disclosure for this sale can be found here. Insiders have sold 34,260 shares of company stock valued at $20,667,475 in the last ninety days. 2.90% of the stock is owned by company insiders.

Intuit Stock Up 1.4 %

Shares of NASDAQ:INTU opened at $648.74 on Thursday. The stock’s 50-day moving average is $645.76 and its 200 day moving average is $586.88. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. The company has a market cap of $181.65 billion, a PE ratio of 66.20, a P/E/G ratio of 3.90 and a beta of 1.22. Intuit Inc. has a 1 year low of $400.22 and a 1 year high of $671.01.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.33. The firm had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.05 EPS. Sell-side analysts anticipate that Intuit Inc. will post 11.27 EPS for the current year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Wednesday, April 10th will be issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Tuesday, April 9th. Intuit’s payout ratio is 36.73%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on INTU. BMO Capital Markets reiterated an “outperform” rating and set a $700.00 target price on shares of Intuit in a research report on Tuesday. Wells Fargo & Company boosted their price target on Intuit from $615.00 to $710.00 and gave the stock an “overweight” rating in a report on Wednesday, February 21st. Susquehanna upped their target price on Intuit from $700.00 to $775.00 and gave the stock a “positive” rating in a report on Friday, February 23rd. Oppenheimer upped their target price on Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Finally, Citigroup upped their target price on Intuit from $565.00 to $651.00 and gave the stock a “buy” rating in a report on Wednesday, November 29th. Four equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $645.00.

Intuit Company Profile

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.