Intuit Inc. (NASDAQ:INTU) Shares Sold by Versor Investments LP

Versor Investments LP lessened its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 8.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,111 shares of the software maker’s stock after selling 195 shares during the period. Versor Investments LP’s holdings in Intuit were worth $1,311,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. LGT Financial Advisors LLC acquired a new stake in Intuit in the second quarter valued at $25,000. Cultivar Capital Inc. acquired a new stake in Intuit in the second quarter valued at $26,000. Fairway Wealth LLC acquired a new stake in Intuit in the second quarter valued at $26,000. Northwest Investment Counselors LLC acquired a new stake in Intuit in the third quarter valued at $27,000. Finally, Hobbs Group Advisors LLC acquired a new stake in Intuit in the second quarter valued at $35,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Activity

In other news, CFO Sandeep Aujla sold 4,000 shares of the stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $617.28, for a total value of $2,469,120.00. Following the completion of the sale, the chief financial officer now owns 452 shares in the company, valued at approximately $279,010.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Intuit news, CFO Sandeep Aujla sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the completion of the sale, the chief financial officer now owns 452 shares in the company, valued at $279,010.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott D. Cook sold 2,461 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total value of $1,568,124.59. Following the sale, the insider now owns 6,453,105 shares of the company’s stock, valued at approximately $4,111,853,974.95. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,297 shares of company stock worth $35,220,046. 2.90% of the stock is currently owned by corporate insiders.

Intuit Stock Performance

Intuit stock opened at $697.35 on Tuesday. The stock’s 50-day moving average is $625.54 and its 200-day moving average is $627.73. The company has a market cap of $195.46 billion, a price-to-earnings ratio of 66.73, a price-to-earnings-growth ratio of 3.34 and a beta of 1.25. 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 12 month low of $523.32 and a 12 month high of $698.96.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. The company had revenue of $3.18 billion for 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 company’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period last year, the business posted $0.40 EPS. Equities analysts anticipate that Intuit Inc. will post 14.04 earnings per share for the current year.

Intuit Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were paid a $1.04 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.60%. This is a positive change from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio (DPR) is 39.81%.

Analysts Set New Price Targets

INTU has been the topic of several research reports. Barclays lowered their target price on Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a report on Friday, August 23rd. Stifel Nicolaus upped their price objective on Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Bank of America upped their price objective on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Jefferies Financial Group upped their price objective on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Finally, Morgan Stanley downgraded Intuit from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $750.00 to $685.00 in a research report on Wednesday, August 14th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and an average target price of $735.71.

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.