Intuit Inc. (NASDAQ:INTU) Position Lifted by Commonwealth Equity Services LLC

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Commonwealth Equity Services LLC increased its holdings in Intuit Inc. (NASDAQ:INTU) by 0.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 21,652 shares of the software maker’s stock after acquiring an additional 118 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Intuit were worth $5,660,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in INTU. CX Institutional raised its stake in Intuit by 85.5% during the first quarter. CX Institutional now owns 102 shares of the software maker’s stock valued at $27,000 after buying an additional 47 shares in the last quarter. Rehmann Capital Advisory Group raised its stake in Intuit by 4.8% during the fourth quarter. Rehmann Capital Advisory Group now owns 1,055 shares of the software maker’s stock valued at $208,000 after buying an additional 48 shares in the last quarter. First Mercantile Trust Co. raised its stake in Intuit by 7.3% during the first quarter. First Mercantile Trust Co. now owns 779 shares of the software maker’s stock valued at $204,000 after buying an additional 53 shares in the last quarter. First Personal Financial Services raised its stake in Intuit by 2.4% during the first quarter. First Personal Financial Services now owns 2,302 shares of the software maker’s stock valued at $602,000 after buying an additional 54 shares in the last quarter. Finally, Whittier Trust Co. grew its holdings in shares of Intuit by 1.9% during the fourth quarter. Whittier Trust Co. now owns 2,941 shares of the software maker’s stock valued at $579,000 after purchasing an additional 56 shares during the last quarter. Institutional investors and hedge funds own 87.97% of the company’s stock.

Shares of INTU stock opened at $257.39 on Thursday. Intuit Inc. has a 12-month low of $182.61 and a 12-month high of $272.14. The company has a market capitalization of $66.56 billion, a P/E ratio of 43.00, a price-to-earnings-growth ratio of 2.91 and a beta of 1.10. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.85 and a quick ratio of 1.85.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, May 23rd. The software maker reported $5.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.12 by $0.43. Intuit had a return on equity of 52.65% and a net margin of 24.34%. The business had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.23 billion. During the same period in the prior year, the company posted $4.82 EPS. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. Equities research analysts forecast that Intuit Inc. will post 5.49 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Wednesday, July 10th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date is Tuesday, July 9th. Intuit’s dividend payout ratio (DPR) is 41.50%.

Several research firms have recently commented on INTU. Zacks Investment Research lowered Intuit from a “buy” rating to a “hold” rating and set a $268.00 target price for the company. in a report on Wednesday, May 29th. Credit Suisse Group upped their target price on Intuit from $260.00 to $265.00 and gave the company an “outperform” rating in a report on Friday, May 24th. Stifel Nicolaus upped their target price on Intuit from $250.00 to $258.00 and gave the company a “buy” rating in a report on Friday, May 24th. Morgan Stanley upped their target price on Intuit from $239.00 to $244.00 and gave the company an “equal weight” rating in a report on Friday, May 24th. Finally, Jefferies Financial Group upped their target price on Intuit from $272.00 to $300.00 and gave the company a “buy” rating in a report on Friday, May 24th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $252.55.

In other Intuit news, Chairman Scott D. Cook sold 29,517 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $261.67, for a total transaction of $7,723,713.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michelle M. Clatterbuck sold 10,628 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $256.27, for a total value of $2,723,637.56. Following the transaction, the chief financial officer now directly owns 10,628 shares of the company’s stock, valued at $2,723,637.56. The disclosure for this sale can be found here. Insiders sold a total of 143,962 shares of company stock valued at $37,293,389 over the last three months. Corporate insiders own 4.60% of the company’s stock.

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Intuit Company Profile

Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.

Read More: What is Compound Annual Growth Rate (CAGR)?

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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