Schechter Investment Advisors LLC grew its stake in Intuit Inc. (NASDAQ:INTU – Get Rating) by 22.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,697 shares of the software maker's stock after purchasing an additional 673 shares during the period. Schechter Investment Advisors LLC's holdings in Intuit were worth $1,432,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Victory Capital Management Inc. grew its position in Intuit by 35.5% in the 3rd quarter. Victory Capital Management Inc. now owns 269,085 shares of the software maker's stock worth $104,222,000 after purchasing an additional 70,425 shares during the last quarter. PDT Partners LLC acquired a new stake in Intuit in the 2nd quarter worth $2,049,000. Montag & Caldwell LLC acquired a new stake in shares of Intuit during the 2nd quarter valued at about $8,039,000. Bridges Investment Management Inc. boosted its position in shares of Intuit by 1.3% during the 3rd quarter. Bridges Investment Management Inc. now owns 3,410 shares of the software maker's stock valued at $1,321,000 after acquiring an additional 44 shares in the last quarter. Finally, AE Wealth Management LLC boosted its position in shares of Intuit by 34.9% during the 2nd quarter. AE Wealth Management LLC now owns 15,234 shares of the software maker's stock valued at $5,872,000 after acquiring an additional 3,938 shares in the last quarter. 82.65% of the stock is currently owned by institutional investors and hedge funds.
Get Intuit alerts:Wall Street Analyst Weigh In
INTU has been the topic of several recent research reports. Bank of America decreased their target price on shares of Intuit from $500.00 to $475.00 and set a "buy" rating on the stock in a research report on Wednesday, November 30th. Wells Fargo & Company decreased their target price on shares of Intuit from $525.00 to $475.00 and set an "overweight" rating on the stock in a research report on Wednesday, November 30th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Intuit from $560.00 to $525.00 and set a "buy" rating on the stock in a research report on Wednesday, November 30th. Evercore ISI decreased their target price on shares of Intuit from $601.00 to $505.00 in a research report on Friday, September 30th. Finally, StockNews.com started coverage on shares of Intuit in a report on Wednesday, October 12th. They set a "hold" rating for the company. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $499.21.
Insider Activity at Intuit
In related news, CAO Lauren D. Hotz sold 400 shares of the business's stock in a transaction that occurred on Thursday, December 1st. The shares were sold at an average price of $416.01, for a total transaction of $166,404.00. Following the completion of the transaction, the chief accounting officer now owns 2,067 shares in the company, valued at $859,892.67. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP James Alexander Chriss sold 597 shares of the business's stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $400.00, for a total transaction of $238,800.00. Following the completion of the transaction, the executive vice president now owns 344 shares in the company, valued at $137,600. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Lauren D. Hotz sold 400 shares of the business's stock in a transaction that occurred on Thursday, December 1st. The shares were sold at an average price of $416.01, for a total transaction of $166,404.00. Following the transaction, the chief accounting officer now owns 2,067 shares of the company's stock, valued at approximately $859,892.67. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,086 shares of company stock worth $1,258,434. 3.18% of the stock is currently owned by company insiders.Intuit Trading Down 2.1 %
INTU opened at $401.55 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.37 and a quick ratio of 1.37. The company has a market cap of $112.80 billion, a price-to-earnings ratio of 61.12, a price-to-earnings-growth ratio of 3.08 and a beta of 1.15. The firm has a 50 day simple moving average of $392.80 and a 200 day simple moving average of $411.89. Intuit Inc. has a fifty-two week low of $339.36 and a fifty-two week high of $579.96.
Intuit (NASDAQ:INTU – Get Rating) last posted its quarterly earnings results on Tuesday, November 29th. The software maker reported $0.57 earnings per share for the quarter, topping analysts' consensus estimates of $0.08 by $0.49. The business had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.50 billion. Intuit had a net margin of 14.10% and a return on equity of 14.31%. On average, sell-side analysts anticipate that Intuit Inc. will post 8.99 earnings per share for the current year.
Intuit Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 18th. Investors of record on Tuesday, January 10th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend was Monday, January 9th. Intuit's dividend payout ratio is currently 47.49%.
Intuit Profile
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Intuit, Inc engages in the provision of business and financial management solutions. It operates through the following segments: Small Business and Self-Employed, Consumer, Credit Karma, and ProConnect. The Small Business and Self-Employed segment offers QuickBooks financial and business management online services and desktop software, payroll solutions, payment processing solutions, and financing for small businesses.
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