Jackson Square Partners LLC Reduces Position in Intuit Inc. (INTU)

Jackson Square Partners LLC cut its position in shares of Intuit Inc. (NASDAQ:INTU) by 14.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,384,229 shares of the company’s stock after selling 569,298 shares during the period. Intuit makes up about 1.7% of Jackson Square Partners LLC’s holdings, making the stock its 21st largest position. Jackson Square Partners LLC owned approximately 1.31% of Intuit worth $372,299,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the stock. Capital World Investors boosted its stake in shares of Intuit by 6.3% in the second quarter. Capital World Investors now owns 25,318,000 shares of the company’s stock worth $2,825,742,000 after buying an additional 1,498,606 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Intuit by 0.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 7,489,258 shares of the company’s stock worth $835,876,000 after buying an additional 21,417 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Intuit by 4.5% in the second quarter. Bank of New York Mellon Corp now owns 6,181,276 shares of the company’s stock worth $689,891,000 after buying an additional 265,334 shares during the last quarter. BlackRock Group LTD boosted its stake in shares of Intuit by 2.0% in the third quarter. BlackRock Group LTD now owns 3,008,036 shares of the company’s stock worth $330,914,000 after buying an additional 58,623 shares during the last quarter. Finally, Morgan Stanley boosted its stake in shares of Intuit by 17.2% in the third quarter. Morgan Stanley now owns 2,839,870 shares of the company’s stock worth $312,415,000 after buying an additional 417,440 shares during the last quarter. 85.89% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

Intuit Inc. (NASDAQ:INTU) opened at 117.53 on Friday. The stock has a market cap of $30.16 billion, a P/E ratio of 31.44 and a beta of 1.06. The company’s 50 day moving average is $116.93 and its 200 day moving average is $112.66. Intuit Inc. has a 52 week low of $93.68 and a 52 week high of $120.55.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, November 17th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. Intuit had a net margin of 20.59% and a return on equity of 82.77%. The company had revenue of $778 million for the quarter, compared to the consensus estimate of $754.36 million. During the same period in the previous year, the firm earned $0.09 EPS. Intuit’s revenue was up 9.1% on a year-over-year basis. Equities analysts predict that Intuit Inc. will post $4.35 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 18th. Shareholders of record on Tuesday, January 10th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, January 6th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.16%. Intuit’s dividend payout ratio (DPR) is 36.27%.

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Several research analysts recently issued reports on INTU shares. Brean Capital reissued a “buy” rating and set a $135.00 price target on shares of Intuit in a report on Wednesday, December 28th. Deutsche Bank AG reissued a “buy” rating and set a $130.00 price target on shares of Intuit in a report on Friday, November 18th. Zacks Investment Research raised shares of Intuit from a “sell” rating to a “hold” rating in a report on Wednesday, January 18th. J P Morgan Chase & Co reissued a “hold” rating and set a $114.00 price target on shares of Intuit in a report on Thursday, November 17th. Finally, Evercore ISI started coverage on shares of Intuit in a report on Wednesday, November 16th. They set a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $200.83.

In other Intuit news, EVP Henry Tayloe Stansbury sold 1,871 shares of the business’s stock in a transaction dated Wednesday, December 28th. The shares were sold at an average price of $116.88, for a total transaction of $218,682.48. Following the sale, the executive vice president now directly owns 2,541 shares in the company, valued at approximately $296,992.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Mark J. Flournoy sold 1,892 shares of the business’s stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $115.47, for a total transaction of $218,469.24. The disclosure for this sale can be found here. Insiders have sold a total of 33,694 shares of company stock worth $3,896,876 over the last 90 days. 5.70% of the stock is owned by insiders.

Intuit Company 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.

5 Day Chart for NASDAQ:INTU

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