Intuit Inc. (NASDAQ:INTU) Shares Sold by Custom Index Systems LLC

Custom Index Systems LLC lessened its stake in shares of Intuit Inc. (NASDAQ:INTU) by 28.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 508 shares of the software maker’s stock after selling 203 shares during the quarter. Custom Index Systems LLC’s holdings in Intuit were worth $315,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Fortitude Family Office LLC increased its position in 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 in the last quarter. WASHINGTON TRUST Co raised its position in shares of Intuit by 10.5% in the second quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker’s stock valued at $110,000 after buying an additional 16 shares during the last quarter. Gemmer Asset Management LLC lifted its stake in shares of Intuit by 3.7% during the second quarter. Gemmer Asset Management LLC now owns 448 shares of the software maker’s stock valued at $294,000 after buying an additional 16 shares during the period. Capital Advisors Ltd. LLC lifted its stake in shares of Intuit by 2.6% during the first quarter. Capital Advisors Ltd. LLC now owns 659 shares of the software maker’s stock valued at $429,000 after buying an additional 17 shares during the period. Finally, Stonebrook Private Inc. boosted its position in Intuit by 4.5% during the first quarter. Stonebrook Private Inc. now owns 398 shares of the software maker’s stock worth $259,000 after acquiring an additional 17 shares during the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Intuit news, CFO Sandeep Aujla sold 862 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total transaction of $535,327.86. Following the sale, the chief financial officer now directly owns 3,840 shares of the company’s stock, valued at approximately $2,384,755.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Kerry J. Mclean sold 11,079 shares of the company’s stock in a transaction 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 in the company, valued at $15,752,985.01. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sandeep Aujla sold 862 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total value of $535,327.86. Following the completion of the sale, the chief financial officer now owns 3,840 shares in the company, valued at $2,384,755.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,297 shares of company stock worth $35,220,046 over the last ninety days. 2.90% of the stock is owned by insiders.

Intuit Stock Performance

Intuit stock opened at $609.27 on Monday. Intuit Inc. has a 52 week low of $473.56 and a 52 week high of $676.62. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The stock has a market cap of $170.32 billion, a P/E ratio of 56.21, a price-to-earnings-growth ratio of 2.98 and a beta of 1.24. The stock has a 50 day moving average of $626.86 and a 200-day moving average of $626.62.

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

Intuit Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Thursday, October 10th were paid a dividend of $1.04 per share. The ex-dividend date of this dividend was Thursday, October 10th. This is a boost from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 0.68%. Intuit’s dividend payout ratio (DPR) is 38.38%.

Analysts Set New Price Targets

A number of brokerages have weighed in on INTU. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research note on Monday, September 30th. Barclays reduced their target price on Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. 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 target for the company. JPMorgan Chase & Co. upped their price objective on shares of Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Finally, Susquehanna reissued a “positive” rating and issued a $757.00 target price on shares of Intuit in a research report on Friday, August 16th. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and an average target price of $735.71.

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.