SG Americas Securities LLC Sells 49,171 Shares of Intuit Inc. (NASDAQ:INTU)

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SG Americas Securities LLC cut its holdings in Intuit Inc. (NASDAQ:INTU) by 69.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,600 shares of the software maker’s stock after selling 49,171 shares during the period. SG Americas Securities LLC’s holdings in Intuit were worth $5,744,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Nuveen Asset Management LLC boosted its stake in shares of Intuit by 4,951.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 4,988,508 shares of the software maker’s stock valued at $1,303,647,000 after purchasing an additional 4,889,759 shares in the last quarter. Invesco Ltd. raised its stake in shares of Intuit by 96.3% in the second quarter. Invesco Ltd. now owns 6,001,471 shares of the software maker’s stock valued at $1,568,367,000 after acquiring an additional 2,944,291 shares during the period. Janus Henderson Group PLC raised its stake in shares of Intuit by 28.7% in the second quarter. Janus Henderson Group PLC now owns 4,752,482 shares of the software maker’s stock valued at $1,241,949,000 after acquiring an additional 1,060,033 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Intuit by 38.0% in the second quarter. JPMorgan Chase & Co. now owns 2,812,304 shares of the software maker’s stock valued at $725,545,000 after acquiring an additional 774,853 shares during the period. Finally, BlackRock Inc. raised its stake in shares of Intuit by 2.5% in the second quarter. BlackRock Inc. now owns 20,667,701 shares of the software maker’s stock valued at $5,401,090,000 after acquiring an additional 503,291 shares during the period. 87.20% of the stock is owned by institutional investors.

Shares of NASDAQ:INTU traded down $2.50 during trading on Friday, reaching $256.85. The stock had a trading volume of 1,357,200 shares, compared to its average volume of 1,389,052. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $65.84 billion, a P/E ratio of 46.03, a PEG ratio of 2.47 and a beta of 1.10. The firm’s 50-day simple moving average is $262.77 and its 200 day simple moving average is $264.79. Intuit Inc. has a one year low of $182.61 and a one year high of $295.77.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, August 22nd. The software maker reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.46) by $0.37. The firm had revenue of $994.00 million during the quarter, compared to analyst estimates of $964.02 million. Intuit had a net margin of 22.95% and a return on equity of 43.86%. The business’s quarterly revenue was up 15.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.32 EPS. Equities research analysts forecast that Intuit Inc. will post 6.3 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.83%. This is a positive change from Intuit’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Wednesday, October 9th. Intuit’s payout ratio is 37.99%.

Several equities research analysts have recently weighed in on the stock. UBS Group downgraded shares of Intuit to a “sell” rating in a research note on Friday, October 25th. Deutsche Bank downgraded shares of Intuit to a “sell” rating in a research report on Wednesday. BidaskClub downgraded shares of Intuit from a “hold” rating to a “sell” rating in a research report on Wednesday. Credit Suisse Group raised their target price on shares of Intuit from $265.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Finally, Citigroup raised their target price on shares of Intuit from $250.00 to $285.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Six investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company’s stock. Intuit has an average rating of “Hold” and a consensus price target of $278.21.

In other news, CFO Michelle M. Clatterbuck sold 612 shares of Intuit stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $280.00, for a total transaction of $171,360.00. Following the completion of the transaction, the chief financial officer now directly owns 1,492 shares of the company’s stock, valued at approximately $417,760. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Gregory N. Johnson sold 2,500 shares of Intuit stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $290.74, for a total transaction of $726,850.00. Following the transaction, the executive vice president now directly owns 11,625 shares of the company’s stock, valued at $3,379,852.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 285,279 shares of company stock valued at $68,553,645. Insiders own 4.60% of the company’s stock.

About Intuit

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.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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