Cambridge Investment Research Advisors Inc. decreased its position in Intuit Inc. (NASDAQ:INTU – Get Rating) by 5.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 14,332 shares of the software maker's stock after selling 758 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in Intuit were worth $5,524,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. AGF Investments LLC grew its holdings in shares of Intuit by 167.4% in the 1st quarter. AGF Investments LLC now owns 1,158 shares of the software maker's stock worth $557,000 after purchasing an additional 725 shares during the last quarter. Covestor Ltd grew its holdings in shares of Intuit by 12.4% in the 1st quarter. Covestor Ltd now owns 508 shares of the software maker's stock worth $245,000 after purchasing an additional 56 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in Intuit by 12.9% during the 1st quarter. Daiwa Securities Group Inc. now owns 30,114 shares of the software maker's stock worth $14,480,000 after buying an additional 3,440 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in Intuit by 10.4% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 20,547 shares of the software maker's stock worth $9,880,000 after buying an additional 1,935 shares in the last quarter. Finally, Bartlett & Co. LLC lifted its position in Intuit by 55.3% during the 4th quarter. Bartlett & Co. LLC now owns 1,165 shares of the software maker's stock worth $749,000 after buying an additional 415 shares in the last quarter. Institutional investors own 83.31% of the company's stock.
Get Intuit alerts:Insider Transactions at Intuit
In other news, CFO Michelle M. Clatterbuck sold 1,791 shares of the stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $462.12, for a total value of $827,656.92. Following the completion of the sale, the chief financial officer now owns 1,350 shares of the company's stock, valued at approximately $623,862. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Michelle M. Clatterbuck sold 1,791 shares of the stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $462.12, for a total value of $827,656.92. Following the completion of the sale, the chief financial officer now owns 1,350 shares of the company's stock, valued at approximately $623,862. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP James Alexander Chriss sold 1,071 shares of the stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $462.09, for a total value of $494,898.39. Following the completion of the sale, the executive vice president now directly owns 1,003 shares of the company's stock, valued at approximately $463,476.27. The disclosure for this sale can be found here. Insiders sold 39,318 shares of company stock valued at $18,027,628 in the last ninety days. 3.27% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
INTU has been the topic of several research reports. Moffett Nathanson initiated coverage on shares of Intuit in a research report on Thursday. They set an "outperform" rating and a $500.00 price target on the stock. KeyCorp upped their price target on shares of Intuit from $475.00 to $525.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 24th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Intuit from $525.00 to $560.00 in a research report on Wednesday, August 24th. Evercore ISI upped their target price on shares of Intuit from $500.00 to $601.00 and gave the company an "outperform" rating in a research report on Wednesday, August 24th. Finally, Stifel Nicolaus upped their target price on shares of Intuit from $465.00 to $525.00 and gave the company a "buy" rating in a research report on Thursday, August 18th. Two investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company's stock. According to data from MarketBeat, Intuit presently has an average rating of "Moderate Buy" and an average target price of $566.89.Intuit Price Performance
NASDAQ INTU opened at $393.97 on Monday. The business has a 50 day simple moving average of $442.41 and a 200 day simple moving average of $428.43. Intuit Inc. has a 52-week low of $339.36 and a 52-week high of $716.86. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.39 and a current ratio of 1.39. The stock has a market cap of $111.05 billion, a price-to-earnings ratio of 54.34, a PEG ratio of 2.70 and a beta of 1.19.
Intuit (NASDAQ:INTU – Get Rating) last posted its earnings results on Tuesday, August 23rd. The software maker reported $1.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.12. Intuit had a return on equity of 16.47% and a net margin of 16.23%. During the same quarter in the previous year, the business posted $1.28 earnings per share. Analysts anticipate that Intuit Inc. will post 9.13 earnings per share for the current fiscal year.
Intuit Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 18th. Stockholders of record on Monday, October 10th will be paid a dividend of $0.78 per share. This is a boost from Intuit's previous quarterly dividend of $0.68. This represents a $3.12 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend is Thursday, October 6th. Intuit's dividend payout ratio (DPR) is currently 37.52%.
Intuit Company Profile
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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 ProConnect.
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