Napean Trading & Investment Co Singapore PTE Ltd Has $6.14 Million Holdings in Intuit Inc. (NASDAQ:INTU)

Napean Trading & Investment Co Singapore PTE Ltd decreased its position in Intuit Inc. (NASDAQ:INTU) by 40.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 9,338 shares of the software maker’s stock after selling 6,347 shares during the period. Intuit makes up 1.5% of Napean Trading & Investment Co Singapore PTE Ltd’s investment portfolio, making the stock its 24th biggest holding. Napean Trading & Investment Co Singapore PTE Ltd’s holdings in Intuit were worth $6,137,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. JFS Wealth Advisors LLC raised its position in Intuit by 1.0% in the 4th quarter. JFS Wealth Advisors LLC now owns 1,564 shares of the software maker’s stock valued at $978,000 after buying an additional 16 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Intuit by 3.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 449 shares of the software maker’s stock valued at $281,000 after purchasing an additional 16 shares during the last quarter. Fortitude Family Office LLC lifted its position in shares of Intuit by 2.8% in the second quarter. Fortitude Family Office LLC now owns 582 shares of the software maker’s stock worth $382,000 after purchasing an additional 16 shares in the last quarter. WASHINGTON TRUST Co boosted its holdings in Intuit by 10.5% during the second quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker’s stock worth $110,000 after purchasing an additional 16 shares during the last quarter. Finally, Gemmer Asset Management LLC grew its position in Intuit by 3.7% in the second quarter. Gemmer Asset Management LLC now owns 448 shares of the software maker’s stock valued at $294,000 after purchasing an additional 16 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Intuit Trading Down 1.0 %

Shares of NASDAQ:INTU opened at $615.12 on Friday. Intuit Inc. has a 12-month low of $473.56 and a 12-month high of $676.62. The business has a 50 day moving average of $638.42 and a 200-day moving average of $632.34. The company has a quick ratio of 1.50, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The stock has a market cap of $171.95 billion, a PE ratio of 56.75, a P/E/G ratio of 3.08 and a beta of 1.24.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.14. The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.40 EPS. As a group, equities research analysts forecast that Intuit Inc. will post 14.06 earnings per share for the current year.

Intuit Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.68%. This is a positive change from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date is Thursday, October 10th. Intuit’s dividend payout ratio (DPR) is currently 38.38%.

Wall Street Analyst Weigh In

INTU has been the topic of several analyst reports. Susquehanna reissued a “positive” rating and set a $757.00 price target on shares of Intuit in a research report on Friday, August 16th. Wells Fargo & Company upped their target price on Intuit from $725.00 to $750.00 and gave the stock an “overweight” rating in a report on Tuesday, May 21st. Citigroup raised their price target on Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Morgan Stanley cut Intuit from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $750.00 to $685.00 in a research note on Wednesday, August 14th. Finally, Jefferies Financial Group increased their price objective on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and a consensus target price of $720.37.

Insiders Place Their Bets

In other Intuit news, CFO Sandeep Aujla sold 862 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total transaction of $535,327.86. Following the transaction, the chief financial officer now owns 3,840 shares in the company, valued at approximately $2,384,755.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Mark P. Notarainni sold 965 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $651.00, for a total transaction of $628,215.00. Following the completion of the sale, the executive vice president now owns 1,020 shares of the company’s stock, valued at $664,020. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sandeep Aujla sold 862 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total transaction of $535,327.86. Following the sale, the chief financial officer now owns 3,840 shares in the company, valued at $2,384,755.20. The disclosure for this sale can be found here. Insiders sold 116,308 shares of company stock worth $67,651,926 in the last quarter. 2.90% of the stock is currently owned by corporate insiders.

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.