Park Place Capital Corp Has $166,000 Stock Position in Intuit Inc. (NASDAQ:INTU)

Park Place Capital Corp cut its holdings in Intuit Inc. (NASDAQ:INTU) by 9.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 268 shares of the software maker’s stock after selling 28 shares during the quarter. Park Place Capital Corp’s holdings in Intuit were worth $166,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of INTU. Wellington Management Group LLP increased its holdings in shares of Intuit by 173.0% during the fourth quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock worth $2,304,850,000 after purchasing an additional 2,336,654 shares during the period. Lone Pine Capital LLC acquired a new stake in Intuit during the fourth quarter worth approximately $467,852,000. SG Americas Securities LLC grew its position in Intuit by 940.4% during the first quarter. SG Americas Securities LLC now owns 315,670 shares of the software maker’s stock worth $205,186,000 after buying an additional 285,328 shares in the last quarter. Vanguard Group Inc. increased its stake in Intuit by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock worth $16,937,502,000 after acquiring an additional 283,291 shares during the period. Finally, Vaughan Nelson Investment Management L.P. acquired a new position in Intuit in the 2nd quarter valued at $184,982,000. 83.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Erste Group Bank restated a “hold” rating on shares of Intuit in a research report on Friday, June 14th. BMO Capital Markets raised their target price on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Jefferies Financial Group upped their price target on shares of Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Barclays decreased their price objective on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. Finally, Morgan Stanley cut Intuit from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $750.00 to $685.00 in a research report on Wednesday, August 14th. Four equities 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, Intuit currently has a consensus rating of “Moderate Buy” and an average price target of $735.71.

Insider Buying and Selling at Intuit

In other news, EVP Laura A. Fennell sold 30,159 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $642.36, for a total value of $19,372,935.24. Following the transaction, the executive vice president now owns 52,038 shares in the company, valued at $33,427,129.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Laura A. Fennell sold 30,159 shares of Intuit stock in a transaction on Friday, September 20th. The stock was sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the sale, the executive vice president now directly owns 52,038 shares in the company, valued at $33,427,129.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Sandeep Aujla sold 775 shares of Intuit stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total transaction of $466,015.25. Following the completion of the sale, the chief financial officer now directly owns 4,451 shares in the company, valued at approximately $2,676,430.81. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 51,297 shares of company stock worth $32,750,926. Insiders own 2.90% of the company’s stock.

Intuit Stock Up 1.8 %

Shares of NASDAQ:INTU opened at $613.37 on Wednesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The business’s 50 day simple moving average is $632.16 and its two-hundred day simple moving average is $629.14. Intuit Inc. has a 52-week low of $473.56 and a 52-week high of $676.62. The firm has a market cap of $171.47 billion, a P/E ratio of 56.58, a PEG ratio of 3.13 and a beta of 1.24.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The company’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.40 EPS. As a group, research analysts forecast that Intuit Inc. will post 14.07 EPS for the current fiscal year.

Intuit Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.68%. This is an increase from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date is Thursday, October 10th. Intuit’s dividend payout ratio is presently 38.38%.

Intuit Company 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.