Axxcess Wealth Management LLC Purchases 5,554 Shares of Intuit Inc. (NASDAQ:INTU)

Axxcess Wealth Management LLC raised its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 85.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,062 shares of the software maker’s stock after purchasing an additional 5,554 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Intuit were worth $7,927,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in INTU. Aveo Capital Partners LLC bought a new position in Intuit in the fourth quarter worth approximately $203,000. 9258 Wealth Management LLC grew its position in shares of Intuit by 29.0% during the 4th quarter. 9258 Wealth Management LLC now owns 650 shares of the software maker’s stock worth $406,000 after buying an additional 146 shares in the last quarter. Gryphon Financial Partners LLC increased its stake in shares of Intuit by 31.6% during the fourth quarter. Gryphon Financial Partners LLC now owns 1,635 shares of the software maker’s stock valued at $1,022,000 after buying an additional 393 shares during the period. Kingsview Wealth Management LLC raised its holdings in shares of Intuit by 8.7% in the fourth quarter. Kingsview Wealth Management LLC now owns 1,147 shares of the software maker’s stock valued at $717,000 after acquiring an additional 92 shares in the last quarter. Finally, Great Lakes Advisors LLC lifted its stake in Intuit by 61.4% in the fourth quarter. Great Lakes Advisors LLC now owns 2,363 shares of the software maker’s stock worth $1,477,000 after acquiring an additional 899 shares during the period. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on INTU shares. Bank of America raised their target price on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Susquehanna restated a “positive” rating and set a $757.00 target price on shares of Intuit in a report on Friday, August 16th. Citigroup upped their price objective on Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Wells Fargo & Company lifted their target price on Intuit from $725.00 to $750.00 and gave the company an “overweight” rating in a research note on Tuesday, May 21st. Finally, StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research report on Saturday, August 31st. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $720.37.

Insider Buying and Selling at Intuit

In other news, CFO Sandeep Aujla sold 1,061 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $651.27, for a total value of $690,997.47. Following the completion of the transaction, the chief financial officer now owns 3,333 shares of the company’s stock, valued at approximately $2,170,682.91. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Alex G. Balazs sold 2,941 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the sale, the executive vice president now owns 20 shares in the company, valued at $12,575.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Sandeep Aujla sold 1,061 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $651.27, for a total transaction of $690,997.47. Following the completion of the transaction, the chief financial officer now owns 3,333 shares of the company’s stock, valued at approximately $2,170,682.91. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,940 shares of company stock valued at $10,721,252. 2.90% of the stock is owned by insiders.

Intuit Stock Down 1.4 %

Intuit stock opened at $646.25 on Tuesday. The business’s 50-day simple moving average is $636.37 and its two-hundred day simple moving average is $631.44. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The company has a market cap of $180.66 billion, a PE ratio of 59.62, a PEG ratio of 3.14 and a beta of 1.24. Intuit Inc. has a fifty-two week low of $473.56 and a fifty-two week high of $676.62.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the prior year, the firm earned $0.40 earnings per share. Intuit’s revenue for the quarter was up 17.4% on a year-over-year basis. Equities analysts anticipate that Intuit Inc. will post 14.06 EPS for the current year.

Intuit Increases Dividend

The firm also recently announced 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. The ex-dividend date is Thursday, October 10th. This is an increase from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a yield of 0.64%. Intuit’s payout ratio is currently 38.38%.

About Intuit

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.