Thematics Asset Management Trims Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Thematics Asset Management lessened its stake in shares of Intuit Inc. (NASDAQ:INTU) by 20.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,478 shares of the software maker’s stock after selling 3,033 shares during the quarter. Thematics Asset Management’s holdings in Intuit were worth $7,128,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Fortitude Family Office LLC lifted its stake in shares of Intuit by 2.8% during the 2nd quarter. Fortitude Family Office LLC now owns 582 shares of the software maker’s stock worth $382,000 after purchasing an additional 16 shares during the period. WASHINGTON TRUST Co increased its position in Intuit by 10.5% during the second quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker’s stock worth $110,000 after purchasing an additional 16 shares during the last quarter. Gemmer Asset Management LLC raised its stake in Intuit by 3.7% during the second quarter. Gemmer Asset Management LLC now owns 448 shares of the software maker’s stock worth $294,000 after purchasing an additional 16 shares during the period. Truvestments Capital LLC boosted its holdings in shares of Intuit by 1.5% in the 3rd quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock valued at $669,000 after purchasing an additional 16 shares during the last quarter. Finally, PFG Investments LLC grew its stake in shares of Intuit by 1.1% during the 2nd quarter. PFG Investments LLC now owns 1,558 shares of the software maker’s stock valued at $1,024,000 after buying an additional 17 shares during the period. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on INTU. Scotiabank began coverage on Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target for the company. Susquehanna reissued a “positive” rating and set a $757.00 target price on shares of Intuit in a research report on Friday, August 16th. Barclays decreased their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research report on Friday. Morgan Stanley increased their target price on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, Bank of America lifted their price target on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $737.44.

Intuit Stock Performance

Shares of NASDAQ:INTU traded down $0.49 on Tuesday, reaching $634.13. 179,831 shares of the company’s stock were exchanged, compared to its average volume of 1,359,076. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The business’s 50-day moving average is $634.58 and its two-hundred day moving average is $631.24. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $177.63 billion, a price-to-earnings ratio of 61.61, a PEG ratio of 3.13 and a beta of 1.25.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.14. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period last year, the company earned $1.14 earnings per share. As a group, equities research analysts forecast that Intuit Inc. will post 14.05 EPS for the current year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.66%. The ex-dividend date is Thursday, January 9th. Intuit’s payout ratio is currently 40.39%.

Insider Buying and Selling at Intuit

In other Intuit news, CFO Sandeep Aujla sold 4,000 shares of the firm’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $617.28, for a total value of $2,469,120.00. Following the completion of the transaction, the chief financial officer now directly owns 452 shares in the company, valued at $279,010.56. This trade represents a 89.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Kerry J. Mclean sold 11,079 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the completion of the transaction, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at $15,752,985.01. This represents a 30.76 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,265 shares of company stock valued at $35,200,125. 2.90% of the stock is owned by corporate insiders.

Intuit 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.