Vicus Capital Invests $225,000 in Intuit Inc. (NASDAQ:INTU)

Vicus Capital purchased a new position in shares of Intuit Inc. (NASDAQ:INTU) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 347 shares of the software maker’s stock, valued at approximately $225,000.

Several other institutional investors and hedge funds have also modified their holdings of INTU. DiNuzzo Private Wealth Inc. purchased a new position in shares of Intuit during the 4th quarter worth $25,000. MCF Advisors LLC lifted its stake in shares of Intuit by 119.0% during the 4th quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock valued at $29,000 after buying an additional 25 shares in the last quarter. Wetzel Investment Advisors Inc. purchased a new position in shares of Intuit during the 4th quarter valued at $38,000. Sachetta LLC purchased a new position in shares of Intuit during the 4th quarter valued at $39,000. Finally, Webster Bank N. A. purchased a new position in shares of Intuit during the 4th quarter valued at $41,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

INTU has been the topic of a number of analyst reports. KeyCorp lifted their target price on shares of Intuit from $720.00 to $740.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Morgan Stanley lifted their target price on shares of Intuit from $680.00 to $740.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. Susquehanna lowered their target price on shares of Intuit from $775.00 to $757.00 and set a “positive” rating on the stock in a research note on Friday, May 24th. Stifel Nicolaus lowered their target price on shares of Intuit from $720.00 to $690.00 and set a “buy” rating on the stock in a research note on Friday, May 24th. Finally, Citigroup lifted their price target on shares of Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a report on Friday. Five equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $683.91.

Intuit Stock Performance

Intuit stock opened at $657.21 on Friday. The company’s 50-day moving average price is $618.61 and its 200-day moving average price is $628.16. Intuit Inc. has a twelve month low of $444.19 and a twelve month high of $676.62. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.32. The company has a market cap of $183.72 billion, a PE ratio of 60.63, a price-to-earnings-growth ratio of 3.76 and a beta of 1.21.

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

Intuit Announces Dividend

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

Insider Activity at Intuit

In related news, CFO Sandeep Aujla sold 1,415 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were 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 in the company, valued at approximately $1,409,880.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Intuit news, insider Scott D. Cook sold 14,748 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $567.40, for a total value of $8,368,015.20. Following the completion of the sale, the insider now directly owns 6,701,721 shares of the company’s stock, valued at approximately $3,802,556,495.40. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Sandeep Aujla sold 1,415 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total transaction of $855,480.70. Following the completion of the sale, the chief financial officer now directly owns 2,332 shares of the company’s stock, valued at $1,409,880.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 193,937 shares of company stock worth $113,123,232. Insiders own 2.90% of the company’s stock.

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.