Intuit Inc. (NASDAQ:INTU) Stake Raised by DRW Securities LLC

DRW Securities LLC increased its holdings in Intuit Inc. (NASDAQ:INTU) by 114.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,865 shares of the software maker’s stock after buying an additional 1,531 shares during the quarter. DRW Securities LLC’s holdings in Intuit were worth $1,883,000 at the end of the most recent reporting period.

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

Insider Transactions at Intuit

In related news, insider Scott D. Cook sold 2,461 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the transaction, the insider now directly owns 6,453,105 shares of the company’s stock, valued at $4,111,853,974.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Intuit news, CFO Sandeep Aujla sold 1,061 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $651.27, for a total value 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Scott D. Cook sold 2,461 shares of Intuit stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total value of $1,568,124.59. Following the sale, the insider now owns 6,453,105 shares of the company’s stock, valued at $4,111,853,974.95. 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 three months. 2.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on INTU shares. Bank of America raised their price objective on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Morgan Stanley downgraded Intuit from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $750.00 to $685.00 in a research note on Wednesday, August 14th. Susquehanna restated a “positive” rating and issued a $757.00 price objective on shares of Intuit in a report on Friday, August 16th. Erste Group Bank reaffirmed a “hold” rating on shares of Intuit in a report on Friday, June 14th. Finally, Jefferies Financial Group upped their price target on shares of Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and an average price target of $720.37.

Intuit Trading Down 1.4 %

Intuit stock opened at $644.99 on Friday. Intuit Inc. has a 52 week low of $473.56 and a 52 week high of $676.62. 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 firm has a market capitalization of $180.31 billion, a price-to-earnings ratio of 59.50, a P/E/G ratio of 3.14 and a beta of 1.24. The company has a 50 day moving average price of $636.82 and a 200 day moving average price of $631.24.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping the consensus estimate of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The business had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter last year, the firm posted $0.40 earnings per share. Intuit’s revenue was up 17.4% compared to the same quarter last year. Research analysts forecast that Intuit Inc. will post 14.06 EPS for the current year.

Intuit Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be issued a $1.04 dividend. This is an increase from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.64%. Intuit’s dividend payout ratio is currently 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.