Intuit Inc. (NASDAQ:INTU) Shares Acquired by Harbour Capital Advisors LLC

Harbour Capital Advisors LLC grew its position in shares of Intuit Inc. (NASDAQ:INTU) by 0.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,738 shares of the software maker’s stock after purchasing an additional 20 shares during the quarter. Intuit makes up about 1.3% of Harbour Capital Advisors LLC’s portfolio, making the stock its 18th biggest holding. Harbour Capital Advisors LLC’s holdings in Intuit were worth $5,432,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. LGT Financial Advisors LLC acquired a new position in shares of Intuit in the second quarter worth about $25,000. Cultivar Capital Inc. acquired a new position in Intuit in the 2nd quarter worth about $26,000. Fairway Wealth LLC purchased a new position in Intuit during the second quarter worth approximately $26,000. Hobbs Group Advisors LLC purchased a new position in Intuit during the second quarter worth approximately $35,000. Finally, Trifecta Capital Advisors LLC grew its holdings in Intuit by 145.8% in the second quarter. Trifecta Capital Advisors LLC now owns 59 shares of the software maker’s stock valued at $39,000 after purchasing an additional 35 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on INTU shares. Bank of America lifted their price target on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Stifel Nicolaus lifted their target price on shares of Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Morgan Stanley downgraded shares of Intuit from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $750.00 to $685.00 in a research report on Wednesday, August 14th. Royal Bank of Canada initiated coverage on Intuit in a report on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 price objective on the stock. Finally, Citigroup boosted 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. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $735.71.

Intuit Stock Performance

Intuit stock opened at $609.23 on Friday. The firm has a 50 day simple moving average of $630.74 and a 200-day simple moving average of $627.72. The stock has a market cap of $170.31 billion, a price-to-earnings ratio of 56.20, a price-to-earnings-growth ratio of 3.04 and a beta of 1.24. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. Intuit Inc. has a 1-year low of $473.56 and a 1-year high of $676.62.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. The firm had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.40 earnings per share. On average, analysts expect that Intuit Inc. will post 14.04 EPS for the current year.

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be issued a $1.04 dividend. This is a positive change from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Thursday, October 10th. Intuit’s payout ratio is 38.38%.

Insider Buying and Selling at Intuit

In other Intuit news, Director Eve B. Burton sold 2,988 shares of Intuit stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $649.87, for a total transaction of $1,941,811.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Eve B. Burton sold 2,988 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $649.87, for a total transaction of $1,941,811.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Laura A. Fennell sold 30,159 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $642.36, for a total value of $19,372,935.24. Following the completion of the sale, the executive vice president now directly owns 52,038 shares in the company, valued at approximately $33,427,129.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,297 shares of company stock valued at $35,220,046 over the last 90 days. 2.90% of the stock is owned by insiders.

Intuit Company 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.