Intuit Inc. (NASDAQ:INTU) Shares Purchased by Bank of Montreal Can

Bank of Montreal Can boosted its position in shares of Intuit Inc. (NASDAQ:INTU) by 11.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 403,974 shares of the software maker’s stock after purchasing an additional 40,837 shares during the quarter. Bank of Montreal Can’s holdings in Intuit were worth $265,871,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of INTU. LGT Financial Advisors LLC purchased a new position in shares of Intuit during the 2nd quarter worth approximately $25,000. Cultivar Capital Inc. acquired a new stake in Intuit during the 2nd quarter valued at $26,000. Fairway Wealth LLC acquired a new position in shares of Intuit in the second quarter worth $26,000. Hobbs Group Advisors LLC acquired a new position in shares of Intuit in the second quarter worth $35,000. Finally, J.Safra Asset Management Corp purchased a new stake in shares of Intuit in the second quarter valued at $39,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on INTU. BMO Capital Markets lifted their price objective on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Erste Group Bank reiterated a “hold” rating on shares of Intuit in a report on Friday, June 14th. Barclays cut their price objective on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a research report on Friday, August 23rd. 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. Finally, Susquehanna reaffirmed a “positive” rating and issued a $757.00 target price on shares of Intuit in a research note on Friday, August 16th. Six research 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $720.37.

Insider Buying and Selling

In other Intuit news, EVP Alex G. Balazs sold 2,941 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total value of $1,849,183.16. Following the transaction, the executive vice president now directly owns 20 shares of the company’s stock, valued at $12,575.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Alex G. Balazs sold 2,941 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total value of $1,849,183.16. Following the completion of the sale, the executive vice president now owns 20 shares in the company, valued at $12,575.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Scott D. Cook sold 2,461 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total value of $1,568,124.59. Following the transaction, the insider now directly owns 6,453,105 shares in the company, valued at $4,111,853,974.95. The disclosure for this sale can be found here. In the last three months, insiders sold 22,389 shares of company stock valued at $14,231,188. Company insiders own 2.90% of the company’s stock.

Intuit Stock Performance

Intuit stock opened at $644.99 on Monday. The company has a market cap of $180.31 billion, a price-to-earnings ratio of 59.50, a price-to-earnings-growth ratio of 3.14 and a beta of 1.24. Intuit Inc. has a 12 month low of $473.56 and a 12 month high of $676.62. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The stock’s 50-day moving average is $636.82 and its 200-day moving average is $631.11.

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

Intuit Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be issued a dividend of $1.04 per share. This is a positive change 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 annualized dividend and a dividend yield of 0.64%. Intuit’s 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.