Mesirow Financial Investment Management Inc. Has $847,000 Holdings in Intuit Inc. (NASDAQ:INTU)

Mesirow Financial Investment Management Inc. decreased its position in Intuit Inc. (NASDAQ:INTU) by 7.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,286 shares of the software maker’s stock after selling 103 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Intuit were worth $847,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Intech Investment Management LLC boosted its position in shares of Intuit by 134.7% during the 1st quarter. Intech Investment Management LLC now owns 4,601 shares of the software maker’s stock valued at $2,991,000 after purchasing an additional 2,641 shares in the last quarter. Parnassus Investments LLC grew its position in shares of Intuit by 119.0% during the 4th quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock worth $836,377,000 after buying an additional 727,185 shares during the period. Public Employees Retirement System of Ohio increased its stake in shares of Intuit by 1.1% in the 4th quarter. Public Employees Retirement System of Ohio now owns 179,801 shares of the software maker’s stock valued at $112,381,000 after acquiring an additional 1,990 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Intuit by 173.0% during the 4th quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock valued at $2,304,850,000 after acquiring an additional 2,336,654 shares during the period. Finally, Cetera Advisors LLC boosted its stake in Intuit by 33.4% during the first quarter. Cetera Advisors LLC now owns 10,607 shares of the software maker’s stock worth $6,895,000 after acquiring an additional 2,655 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other Intuit news, CFO Sandeep Aujla sold 1,061 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were 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 in the company, valued at $2,170,682.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Intuit news, EVP Kerry J. Mclean sold 11,079 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total value 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 approximately $15,752,985.01. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 value of $690,997.47. Following the completion of the transaction, the chief financial officer now owns 3,333 shares in the company, valued at $2,170,682.91. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,940 shares of company stock valued at $10,721,252. Company insiders own 2.90% of the company’s stock.

Intuit Stock Performance

INTU stock opened at $646.25 on Tuesday. The business has a 50 day moving average of $636.37 and a 200-day moving average of $631.44. The firm has a market cap of $180.66 billion, a PE ratio of 59.62, a P/E/G ratio of 3.14 and a beta of 1.24. Intuit Inc. has a 12-month low of $473.56 and a 12-month high of $676.62. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30.

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

Intuit Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be given a dividend of $1.04 per share. 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 dividend yield of 0.64%. The ex-dividend date is Thursday, October 10th. Intuit’s dividend payout ratio is currently 38.38%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on INTU. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research report on Saturday, August 31st. Citigroup boosted their price objective on Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a report on Friday, June 28th. Jefferies Financial Group increased their target price on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Susquehanna restated a “positive” rating and set a $757.00 price target on shares of Intuit in a research note on Friday, August 16th. Finally, Royal Bank of Canada began coverage on shares of Intuit in a report on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, Intuit presently has an average rating of “Moderate Buy” and an average target price of $720.37.

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.