Impax Asset Management Group plc Has $13.82 Million Stake in Intuit Inc. (NASDAQ:INTU)

Impax Asset Management Group plc raised its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 27.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,248 shares of the software maker's stock after acquiring an additional 4,759 shares during the period. Impax Asset Management Group plc's holdings in Intuit were worth $13,816,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Intech Investment Management LLC grew its holdings in Intuit by 134.7% in the 1st quarter. Intech Investment Management LLC now owns 4,601 shares of the software maker's stock worth $2,991,000 after buying an additional 2,641 shares in the last quarter. Harvest Portfolios Group Inc. grew its stake in shares of Intuit by 5.4% in the third quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker's stock worth $22,295,000 after purchasing an additional 1,853 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Intuit by 33.7% during the third quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker's stock valued at $2,383,000 after purchasing an additional 968 shares during the period. Cetera Advisors LLC raised its stake in shares of Intuit by 33.4% during the first quarter. Cetera Advisors LLC now owns 10,607 shares of the software maker's stock valued at $6,895,000 after purchasing an additional 2,655 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its holdings in Intuit by 13.4% in the second quarter. Park Avenue Securities LLC now owns 11,257 shares of the software maker's stock worth $7,398,000 after purchasing an additional 1,328 shares during the period. 83.66% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Intuit news, Director Eve B. Burton sold 2,988 shares of the firm's stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $649.87, for a total value of $1,941,811.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 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 approximately $4,111,853,974.95. The trade was a 0.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,297 shares of company stock valued at $35,220,046 in the last quarter. Insiders own 2.90% of the company's stock.

Intuit Stock Down 1.8 %

NASDAQ:INTU traded down $12.89 during mid-day trading on Friday, reaching $687.87. The stock had a trading volume of 1,799,379 shares, compared to its average volume of 1,335,732. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a market cap of $192.80 billion, a P/E ratio of 65.82, a PEG ratio of 3.45 and a beta of 1.25. Intuit Inc. has a fifty-two week low of $552.68 and a fifty-two week high of $714.78. The business's 50 day moving average is $633.08 and its 200 day moving average is $630.06.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the prior year, the company posted $0.40 EPS. The firm's revenue was up 17.4% on a year-over-year basis. As a group, sell-side analysts predict that Intuit Inc. will post 14.04 earnings per share for the current year.

Intuit Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Thursday, October 10th were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.60%. The ex-dividend date was Thursday, October 10th. This is an increase from Intuit's previous quarterly dividend of $0.90. Intuit's dividend payout ratio (DPR) is 39.81%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Bank of America increased their price objective on shares of Intuit from $730.00 to $780.00 and gave the company a "buy" rating in a report on Friday, August 23rd. Susquehanna restated a "positive" rating and set a $757.00 price objective on shares of Intuit in a research report on Friday, August 16th. Morgan Stanley cut shares of Intuit from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $750.00 to $685.00 in a report on Wednesday, August 14th. StockNews.com upgraded Intuit from a "hold" rating to a "buy" rating in a report on Monday, September 30th. Finally, Barclays boosted their price objective on Intuit from $740.00 to $800.00 and gave the stock an "overweight" rating in a report on Friday. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Intuit currently has a consensus rating of "Moderate Buy" and an average price target of $739.24.

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.