Nomura Asset Management Co. Ltd. Has $60.32 Million Position in Intuit Inc. (NASDAQ:INTU)

Nomura Asset Management Co. Ltd. lifted its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 7.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 97,131 shares of the software maker's stock after purchasing an additional 6,353 shares during the period. Nomura Asset Management Co. Ltd.'s holdings in Intuit were worth $60,318,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of INTU. LGT Financial Advisors LLC bought a new stake in shares of Intuit during the 2nd quarter worth $25,000. Cultivar Capital Inc. bought a new stake in Intuit during the second quarter valued at about $26,000. Fairway Wealth LLC acquired a new stake in shares of Intuit in the second quarter valued at about $26,000. Northwest Investment Counselors LLC bought a new position in shares of Intuit in the third quarter worth about $27,000. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Intuit during the 2nd quarter worth about $35,000. 83.66% of the stock is currently owned by institutional investors.

Intuit Price Performance

NASDAQ:INTU traded up $0.49 on Tuesday, reaching $647.07. The stock had a trading volume of 1,485,528 shares, compared to its average volume of 1,363,533. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $181.13 billion, a P/E ratio of 62.82, a price-to-earnings-growth ratio of 3.19 and a beta of 1.25. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78. The stock has a fifty day moving average price of $635.59 and a 200-day moving average price of $630.43.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping analysts' consensus estimates of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same period in the prior year, the company earned $1.14 EPS. Intuit's revenue for the quarter was up 10.2% on a year-over-year basis. Research analysts forecast that Intuit Inc. will post 14.07 EPS for the current year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.64%. The ex-dividend date is Thursday, January 9th. Intuit's payout ratio is presently 40.39%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Jefferies Financial Group lifted their price target on Intuit from $790.00 to $800.00 and gave the stock a "buy" rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. boosted their target price on shares of Intuit from $600.00 to $640.00 and gave the stock a "neutral" rating in a research report on Friday, November 22nd. Scotiabank began coverage on shares of Intuit in a research note on Monday, November 18th. They set a "sector perform" rating and a $700.00 target price for the company. Stifel Nicolaus decreased their price target on shares of Intuit from $795.00 to $725.00 and set a "buy" rating on the stock in a research report on Friday, November 22nd. Finally, BMO Capital Markets upped their price objective on shares of Intuit from $700.00 to $760.00 and gave the company an "outperform" rating in a research report on Friday, August 23rd. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $737.44.

Insider Buying and Selling

In other Intuit news, 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 completion of the sale, the insider now directly owns 6,453,105 shares of the company's stock, valued at approximately $4,111,853,974.95. The trade was a 0.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Sandeep Aujla sold 775 shares of the firm's stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total transaction of $466,015.25. Following the completion of the transaction, the chief financial officer now directly owns 4,451 shares in the company, valued at $2,676,430.81. This trade represents a 14.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 119,032 shares of company stock worth $76,314,242 in the last quarter. Insiders own 2.68% of the company's stock.

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.