Intuit Inc. (NASDAQ:INTU) Shares Bought by Davidson Investment Advisors

Davidson Investment Advisors boosted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 0.1% in the second quarter, HoldingsChannel.com reports. The fund owned 36,329 shares of the software maker’s stock after buying an additional 44 shares during the quarter. Davidson Investment Advisors’ holdings in Intuit were worth $16,645,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in INTU. Fairfield Bush & CO. increased its position in Intuit by 39.6% during the first quarter. Fairfield Bush & CO. now owns 3,648 shares of the software maker’s stock worth $1,754,000 after purchasing an additional 1,035 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Intuit by 10.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 504,309 shares of the software maker’s stock worth $242,492,000 after acquiring an additional 48,196 shares in the last quarter. Cetera Investment Advisers grew its holdings in Intuit by 8.4% during the 1st quarter. Cetera Investment Advisers now owns 3,227 shares of the software maker’s stock worth $1,552,000 after acquiring an additional 249 shares in the last quarter. Baird Financial Group Inc. grew its holdings in Intuit by 7.1% during the 1st quarter. Baird Financial Group Inc. now owns 53,691 shares of the software maker’s stock worth $25,825,000 after acquiring an additional 3,576 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its position in shares of Intuit by 6.6% in the 1st quarter. Mackenzie Financial Corp now owns 34,207 shares of the software maker’s stock worth $16,448,000 after buying an additional 2,127 shares during the last quarter. Institutional investors and hedge funds own 82.63% of the company’s stock.

Intuit Stock Performance

NASDAQ:INTU traded up $4.57 during trading on Monday, reaching $564.73. The company’s stock had a trading volume of 394,451 shares, compared to its average volume of 1,572,926. The firm has a market cap of $158.29 billion, a price-to-earnings ratio of 66.37, a price-to-earnings-growth ratio of 3.37 and a beta of 1.20. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.47 and a current ratio of 1.47. The firm has a 50 day moving average of $521.01 and a 200-day moving average of $489.03. Intuit Inc. has a 12 month low of $370.62 and a 12 month high of $567.03.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, August 24th. The software maker reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.22. The business had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.64 billion. Intuit had a return on equity of 16.61% and a net margin of 16.59%. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.22 EPS. Research analysts expect that Intuit Inc. will post 11.25 EPS for the current fiscal year.

Intuit Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 17th. Investors of record on Monday, October 9th were issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.64%. This is a boost from Intuit’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Thursday, October 5th. Intuit’s dividend payout ratio (DPR) is currently 42.65%.

Insiders Place Their Bets

In other news, CFO Sandeep Aujla sold 10,732 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $531.01, for a total transaction of $5,698,799.32. Following the transaction, the chief financial officer now directly owns 235 shares of the company’s stock, valued at $124,787.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Sandeep Aujla sold 10,732 shares of the business’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $531.01, for a total value of $5,698,799.32. Following the completion of the transaction, the chief financial officer now owns 235 shares in the company, valued at $124,787.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Marianna Tessel sold 8,702 shares of the company’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $552.63, for a total value of $4,808,986.26. Following the sale, the executive vice president now owns 32,171 shares of the company’s stock, valued at approximately $17,778,659.73. The disclosure for this sale can be found here. Insiders have sold 41,073 shares of company stock valued at $22,091,651 in the last ninety days. Company insiders own 3.18% of the company’s stock.

Analyst Ratings Changes

INTU has been the topic of several recent research reports. Argus lifted their price objective on shares of Intuit from $580.00 to $640.00 and gave the company a “buy” rating in a research report on Wednesday, September 6th. StockNews.com initiated coverage on shares of Intuit in a research note on Thursday, October 5th. They issued a “buy” rating on the stock. Evercore ISI lifted their price objective on shares of Intuit from $505.00 to $530.00 and gave the stock an “outperform” rating in a research note on Friday, August 25th. Wells Fargo & Company lifted their target price on shares of Intuit from $550.00 to $575.00 and gave the stock an “overweight” rating in a research report on Friday, September 29th. Finally, Wolfe Research raised their price target on shares of Intuit from $600.00 to $660.00 and gave the stock an “outperform” rating in a report on Friday, September 29th. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $567.41.

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.