Montag A & Associates Inc. boosted its position in shares of Intuit Inc. (NASDAQ:INTU) by 4.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,222 shares of the software maker’s stock after buying an additional 685 shares during the quarter. Montag A & Associates Inc.’s holdings in Intuit were worth $4,314,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Donaldson Capital Management LLC acquired a new stake in shares of Intuit in the third quarter valued at about $301,000. Appleton Partners Inc. MA lifted its stake in shares of Intuit by 2.3% in the third quarter. Appleton Partners Inc. MA now owns 43,133 shares of the software maker’s stock worth $11,471,000 after buying an additional 984 shares in the last quarter. Bartlett & Co. LLC lifted its stake in shares of Intuit by 38,233.3% in the third quarter. Bartlett & Co. LLC now owns 1,150 shares of the software maker’s stock worth $306,000 after buying an additional 1,147 shares in the last quarter. Fulcrum Capital LLC purchased a new position in shares of Intuit in the third quarter worth about $5,389,000. Finally, Abacus Planning Group Inc. lifted its stake in shares of Intuit by 20.4% in the third quarter. Abacus Planning Group Inc. now owns 3,394 shares of the software maker’s stock worth $903,000 after buying an additional 576 shares in the last quarter. Institutional investors own 87.20% of the company’s stock.
In other Intuit news, EVP Gregory N. Johnson sold 2,500 shares of Intuit stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $290.74, for a total transaction of $726,850.00. Following the completion of the sale, the executive vice president now directly owns 11,625 shares in the company, valued at $3,379,852.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Jeffrey David Ayers sold 39,689 shares of Intuit stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $17.15, for a total transaction of $680,666.35. Insiders have sold 285,279 shares of company stock worth $68,553,645 over the last ninety days. 4.60% of the stock is owned by insiders.
INTU has been the topic of several research reports. Peel Hunt reissued a “hold” rating on shares of Intuit in a research note on Tuesday, October 22nd. Stifel Nicolaus raised their price target on shares of Intuit from $290.00 to $315.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. KeyCorp raised their price target on shares of Intuit from $300.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Morgan Stanley raised their price target on shares of Intuit from $244.00 to $260.00 and gave the stock an “equal weight” rating in a research note on Monday, August 26th. Finally, Deutsche Bank downgraded shares of Intuit to a “sell” rating in a research note on Wednesday. Six investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. Intuit presently has an average rating of “Hold” and an average target price of $278.21.
INTU stock traded down $2.50 during trading on Friday, reaching $256.85. 1,357,200 shares of the stock were exchanged, compared to its average volume of 1,389,052. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.10. The business has a 50 day moving average price of $263.05 and a 200-day moving average price of $264.80. Intuit Inc. has a 1 year low of $182.61 and a 1 year high of $295.77. The firm has a market capitalization of $65.84 billion, a price-to-earnings ratio of 46.03, a P/E/G ratio of 2.47 and a beta of 1.10.
Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, August 22nd. The software maker reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.37. Intuit had a net margin of 22.95% and a return on equity of 43.86%. The company had revenue of $994.00 million for the quarter, compared to the consensus estimate of $964.02 million. During the same period in the previous year, the firm earned $0.32 earnings per share. Intuit’s quarterly revenue was up 15.0% compared to the same quarter last year. On average, research analysts anticipate that Intuit Inc. will post 6.3 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This is an increase from Intuit’s previous quarterly dividend of $0.47. This represents a $2.12 dividend on an annualized basis and a yield of 0.83%. Intuit’s payout ratio is 37.99%.
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.
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