HighVista Strategies LLC Increases Stock Holdings in Intuit Inc. (NASDAQ:INTU)

HighVista Strategies LLC increased its holdings in Intuit Inc. (NASDAQ:INTU) by 64.1% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 4,863 shares of the software maker’s stock after purchasing an additional 1,900 shares during the quarter. Intuit makes up about 1.2% of HighVista Strategies LLC’s investment portfolio, making the stock its 17th largest position. HighVista Strategies LLC’s holdings in Intuit were worth $3,196,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in INTU. LGT Financial Advisors LLC acquired a new stake in Intuit during the 2nd quarter valued at $25,000. Cultivar Capital Inc. purchased a new stake in shares of Intuit in the second quarter valued at $26,000. Fairway Wealth LLC acquired a new stake in shares of Intuit during the second quarter valued at $26,000. Hobbs Group Advisors LLC purchased a new stake in Intuit during the 2nd quarter worth about $35,000. Finally, J.Safra Asset Management Corp purchased a new stake in Intuit during the 2nd quarter worth about $39,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Intuit

In related news, CFO Sandeep Aujla sold 1,061 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $651.27, for a total transaction of $690,997.47. Following the transaction, the chief financial officer now directly owns 3,333 shares of the company’s stock, valued at approximately $2,170,682.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Sandeep Aujla sold 1,061 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $651.27, for a total transaction of $690,997.47. Following the completion of the sale, the chief financial officer now directly owns 3,333 shares of the company’s stock, valued at approximately $2,170,682.91. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Mark P. Notarainni sold 965 shares of the business’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $651.00, for a total transaction of $628,215.00. Following the completion of the transaction, the executive vice president now owns 1,020 shares in the company, valued at approximately $664,020. The disclosure for this sale can be found here. Insiders sold 22,389 shares of company stock valued at $14,231,188 over the last quarter. Company insiders own 2.90% of the company’s stock.

Intuit Trading Down 1.4 %

NASDAQ INTU opened at $644.99 on Monday. The firm has a market capitalization of $180.31 billion, a price-to-earnings ratio of 59.50, a PEG ratio of 3.14 and a beta of 1.24. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. Intuit Inc. has a one year low of $473.56 and a one year high of $676.62. The company’s 50 day moving average price is $636.82 and its 200 day moving average price is $631.11.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.14. The company had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.40 earnings per share. On average, sell-side analysts predict that Intuit Inc. will post 14.06 EPS for the current year.

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend is Thursday, October 10th. This is a boost from Intuit’s previous quarterly dividend of $0.90. Intuit’s payout ratio is currently 38.38%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Citigroup raised their price target on shares of Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Jefferies Financial Group raised 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. Royal Bank of Canada began coverage on Intuit in a report on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 price target for the company. Barclays reduced their price target on Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. Finally, Erste Group Bank reiterated a “hold” rating on shares of Intuit in a research note on Friday, June 14th. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $720.37.

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.