Thurston Springer Miller Herd & Titak Inc. Grows Position in Intuit Inc. (NASDAQ:INTU)

Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of Intuit Inc. (NASDAQ:INTU) by 48.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,837 shares of the software maker’s stock after purchasing an additional 600 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Intuit were worth $1,156,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of INTU. Park Avenue Securities LLC lifted its position in Intuit by 65.9% during the fourth quarter. Park Avenue Securities LLC now owns 12,273 shares of the software maker’s stock valued at $7,714,000 after buying an additional 4,873 shares in the last quarter. Rockland Trust Co. lifted its holdings in shares of Intuit by 3.0% during the 4th quarter. Rockland Trust Co. now owns 36,323 shares of the software maker’s stock valued at $22,829,000 after acquiring an additional 1,041 shares in the last quarter. Fifth Third Wealth Advisors LLC boosted its position in Intuit by 10.6% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 3,216 shares of the software maker’s stock worth $2,021,000 after purchasing an additional 307 shares during the period. CCLA Investment Management increased its holdings in Intuit by 11.5% in the 4th quarter. CCLA Investment Management now owns 202,638 shares of the software maker’s stock valued at $127,357,000 after purchasing an additional 20,884 shares in the last quarter. Finally, SeaCrest Wealth Management LLC raised its position in Intuit by 9.3% in the fourth quarter. SeaCrest Wealth Management LLC now owns 751 shares of the software maker’s stock valued at $472,000 after purchasing an additional 64 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Trading Up 1.7 %

Intuit stock opened at $623.80 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78. The firm’s 50-day moving average is $649.57 and its 200-day moving average is $637.71. The company has a market cap of $174.61 billion, a P/E ratio of 60.56, a PEG ratio of 3.24 and a beta of 1.25.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. Intuit’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.14 earnings per share. On average, equities analysts expect that Intuit Inc. will post 14.07 earnings per share for the current year.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend is Friday, January 10th. Intuit’s dividend payout ratio (DPR) is 40.39%.

Insider Transactions at Intuit

In other news, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the sale, the insider now owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. The trade was a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the transaction, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at $1,154,337.92. This trade represents a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 293,014 shares of company stock worth $188,992,187. Insiders own 2.68% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on INTU shares. Jefferies Financial Group upped their target price on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $760.00 price objective on shares of Intuit in a research report on Friday, November 22nd. Scotiabank began coverage on shares of Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 target price on the stock. Morgan Stanley raised their price target on shares of Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. Finally, StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a research note on Friday, December 20th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $737.44.

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.