Intuit Inc. (NASDAQ:INTU) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its stake in Intuit Inc. (NASDAQ:INTU) by 7.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 295,050 shares of the software maker’s stock after selling 23,207 shares during the period. Victory Capital Management Inc.’s holdings in Intuit were worth $183,226,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC grew its stake in Intuit by 68,404.7% during the 3rd quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock worth $300,768,000 after buying an additional 483,621 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Intuit by 1.1% in the first quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock valued at $16,937,502,000 after buying an additional 283,291 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Intuit during the second quarter worth about $184,982,000. Ameriprise Financial Inc. grew its holdings in shares of Intuit by 17.3% during the second quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock worth $1,062,578,000 after buying an additional 238,486 shares during the last quarter. Finally, Clearbridge Investments LLC increased its position in Intuit by 21.3% in the 2nd quarter. Clearbridge Investments LLC now owns 964,328 shares of the software maker’s stock valued at $633,766,000 after acquiring an additional 169,190 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Buying and Selling

In other news, CFO Sandeep Aujla sold 862 shares of Intuit stock in a transaction on Wednesday, September 4th. The stock was 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 of the company’s stock, valued at $2,384,755.20. The trade was 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 other Intuit news, EVP Laura A. Fennell sold 30,159 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the transaction, the executive vice president now owns 52,038 shares of the company’s stock, valued at $33,427,129.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Sandeep Aujla sold 862 shares of the business’s 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 $2,384,755.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,297 shares of company stock worth $35,220,046. 2.90% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on INTU. Susquehanna reiterated a “positive” rating and issued a $757.00 target price on shares of Intuit in a research note on Friday, August 16th. Bank of America boosted their price target on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Barclays reduced their price objective on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a research report on Friday, August 23rd. Stifel Nicolaus raised their price target on Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Finally, Jefferies Financial Group boosted their target price on shares of Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $735.71.

Intuit Stock Performance

NASDAQ INTU opened at $699.47 on Wednesday. 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 Inc. has a fifty-two week low of $523.32 and a fifty-two week high of $703.88. The business has a fifty day moving average of $626.88 and a 200-day moving average of $628.23. The stock has a market cap of $196.05 billion, a price-to-earnings ratio of 66.93, a price-to-earnings-growth ratio of 3.41 and a beta of 1.25.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating 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 firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the previous year, the company posted $0.40 EPS. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. As a group, analysts predict that Intuit Inc. will post 14.04 earnings per share for the current fiscal year.

Intuit Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Thursday, October 10th were given a dividend of $1.04 per share. The ex-dividend date was Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.59%. This is a positive change from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio (DPR) is 39.81%.

About Intuit

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.