Congress Park Capital LLC Lowers Position in Intuit Inc. (NASDAQ:INTU)

Congress Park Capital LLC cut its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 12.8% during the first quarter, Holdings Channel.com reports. The fund owned 850 shares of the software maker’s stock after selling 125 shares during the period. Congress Park Capital LLC’s holdings in Intuit were worth $552,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. DiNuzzo Private Wealth Inc. bought a new stake in shares of Intuit in the fourth quarter worth about $25,000. MCF Advisors LLC increased its holdings in shares of Intuit by 119.0% in the fourth quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock worth $29,000 after purchasing an additional 25 shares during the last quarter. Wetzel Investment Advisors Inc. bought a new stake in shares of Intuit in the fourth quarter worth about $38,000. Sachetta LLC bought a new stake in shares of Intuit in the fourth quarter worth about $39,000. Finally, Webster Bank N. A. bought a new stake in Intuit during the fourth quarter worth approximately $41,000. 83.66% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Sandeep Aujla sold 1,415 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total transaction of $855,480.70. Following the transaction, the chief financial officer now directly owns 2,332 shares of the company’s stock, valued at $1,409,880.56. 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 1,415 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total transaction of $855,480.70. Following the transaction, the chief financial officer now directly owns 2,332 shares of the company’s stock, valued at $1,409,880.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Mark P. Notarainni sold 465 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total value of $281,129.70. Following the completion of the transaction, the executive vice president now directly owns 869 shares in the company, valued at approximately $525,380.02. The disclosure for this sale can be found here. Insiders have sold 193,937 shares of company stock valued at $113,123,232 in the last ninety days. Company insiders own 2.90% of the company’s stock.

Intuit Stock Up 1.2 %

NASDAQ:INTU traded up $7.96 during trading hours on Friday, hitting $659.40. 600,661 shares of the company traded hands, compared to its average volume of 1,341,803. Intuit Inc. has a one year low of $444.19 and a one year high of $676.62. The company has a market cap of $184.34 billion, a PE ratio of 60.10, a PEG ratio of 3.66 and a beta of 1.21. The firm’s 50-day simple moving average is $616.71 and its 200-day simple moving average is $627.26. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.32.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, May 23rd. The software maker reported $9.88 earnings per share for the quarter, topping the consensus estimate of $8.12 by $1.76. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The company had revenue of $6.74 billion during the quarter, compared to analyst estimates of $6.65 billion. During the same quarter last year, the firm posted $7.80 EPS. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. Equities analysts predict that Intuit Inc. will post 11.72 earnings per share for the current year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Wednesday, July 10th will be given a $0.90 dividend. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $3.60 dividend on an annualized basis and a yield of 0.55%. Intuit’s payout ratio is 33.21%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Stifel Nicolaus dropped their target price on Intuit from $720.00 to $690.00 and set a “buy” rating for the company in a research report on Friday, May 24th. Jefferies Financial Group reiterated a “buy” rating and set a $770.00 price objective on shares of Intuit in a report on Thursday, June 13th. Piper Sandler raised their target price on Intuit from $750.00 to $760.00 and gave the stock an “overweight” rating in a research note on Friday, May 24th. Susquehanna cut their price target on Intuit from $775.00 to $757.00 and set a “positive” rating on the stock in a research report on Friday, May 24th. Finally, Wells Fargo & Company raised their target price on Intuit from $725.00 to $750.00 and gave the company an “overweight” rating in a research report on Tuesday, May 21st. Five investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $679.41.

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.