Mawer Investment Management Ltd. Decreases Position in Intuit Inc. (INTU)

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Mawer Investment Management Ltd. reduced its stake in shares of Intuit Inc. (NASDAQ:INTU) by 2.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 400,524 shares of the software maker’s stock after selling 10,204 shares during the quarter. Mawer Investment Management Ltd.’s holdings in Intuit were worth $104,706,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc boosted its holdings in shares of Intuit by 3.9% in the third quarter. Vanguard Group Inc now owns 18,997,220 shares of the software maker’s stock worth $4,319,968,000 after buying an additional 704,771 shares during the period. We Are One Seven LLC acquired a new position in shares of Intuit in the fourth quarter worth about $33,000. Eqis Capital Management Inc. boosted its holdings in shares of Intuit by 35.7% in the fourth quarter. Eqis Capital Management Inc. now owns 5,224 shares of the software maker’s stock worth $1,028,000 after buying an additional 1,375 shares during the period. CWM LLC boosted its holdings in shares of Intuit by 20.0% in the fourth quarter. CWM LLC now owns 336 shares of the software maker’s stock worth $66,000 after buying an additional 56 shares during the period. Finally, Private Capital Group LLC boosted its holdings in shares of Intuit by 95.4% in the fourth quarter. Private Capital Group LLC now owns 385 shares of the software maker’s stock worth $76,000 after buying an additional 188 shares during the period. Institutional investors and hedge funds own 88.04% of the company’s stock.

Several brokerages have commented on INTU. Guggenheim raised their target price on shares of Intuit from $260.00 to $310.00 in a report on Thursday, April 11th. BNP Paribas assumed coverage on shares of Intuit in a report on Friday, March 29th. They set an “underperform” rating and a $200.00 price target for the company. Deutsche Bank raised their price target on shares of Intuit from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Bank of America reaffirmed a “buy” rating and set a $264.00 price objective (up previously from $252.00) on shares of Intuit in a research report on Wednesday, March 6th. Finally, Goldman Sachs Group reaffirmed a “neutral” rating and set a $212.00 price objective on shares of Intuit in a research report on Friday, February 1st. Three analysts have rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $253.40.

Shares of NASDAQ:INTU traded up $16.17 during trading on Monday, reaching $257.48. The stock had a trading volume of 2,702,983 shares, compared to its average volume of 1,435,974. Intuit Inc. has a 52 week low of $182.61 and a 52 week high of $272.14. The firm has a market cap of $66.75 billion, a price-to-earnings ratio of 56.84, a P/E/G ratio of 2.99 and a beta of 1.14. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.10.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, May 23rd. The software maker reported $5.55 EPS for the quarter, beating the Zacks’ consensus estimate of $5.12 by $0.43. Intuit had a net margin of 24.34% and a return on equity of 52.65%. The company had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.23 billion. During the same quarter last year, the firm posted $4.82 earnings per share. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. Research analysts predict that Intuit Inc. will post 5.32 EPS for the current fiscal year.

In other news, SVP Kerry J. Mclean sold 12,176 shares of Intuit stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $250.74, for a total value of $3,053,010.24. Following the transaction, the senior vice president now owns 14,710 shares of the company’s stock, valued at $3,688,385.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Mark J. Flournoy sold 5,939 shares of Intuit stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $251.18, for a total transaction of $1,491,758.02. Following the completion of the transaction, the vice president now directly owns 3,626 shares in the company, valued at approximately $910,778.68. The disclosure for this sale can be found here. In the last three months, insiders sold 89,686 shares of company stock worth $22,529,780. Insiders own 4.60% of the company’s stock.

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About Intuit

Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.

Further Reading: Why do companies issue stock splits?

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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