Disciplined Growth Investors Inc. MN Has $128.26 Million Holdings in Intuit Inc. (NASDAQ:INTU)

Disciplined Growth Investors Inc. MN lessened its position in shares of Intuit Inc. (NASDAQ:INTU) by 4.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 195,165 shares of the software maker’s stock after selling 9,271 shares during the period. Intuit makes up approximately 2.4% of Disciplined Growth Investors Inc. MN’s investment portfolio, making the stock its 14th largest position. Disciplined Growth Investors Inc. MN’s holdings in Intuit were worth $128,264,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fortitude Family Office LLC raised its stake in Intuit by 2.8% in the 2nd quarter. Fortitude Family Office LLC now owns 582 shares of the software maker’s stock worth $382,000 after purchasing an additional 16 shares in the last quarter. WASHINGTON TRUST Co increased its holdings in shares of Intuit by 10.5% during the second quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker’s stock worth $110,000 after purchasing an additional 16 shares during the period. Gemmer Asset Management LLC raised its position in shares of Intuit by 3.7% in the second quarter. Gemmer Asset Management LLC now owns 448 shares of the software maker’s stock valued at $294,000 after buying an additional 16 shares in the last quarter. Capital Advisors Ltd. LLC boosted its stake in shares of Intuit by 2.6% in the first quarter. Capital Advisors Ltd. LLC now owns 659 shares of the software maker’s stock valued at $429,000 after buying an additional 17 shares during the period. Finally, Stonebrook Private Inc. grew its position in Intuit by 4.5% during the first quarter. Stonebrook Private Inc. now owns 398 shares of the software maker’s stock worth $259,000 after buying an additional 17 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on INTU. Royal Bank of Canada initiated coverage on Intuit in a report on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 price objective for the company. Susquehanna reaffirmed a “positive” rating and set a $757.00 price objective on shares of Intuit in a research report on Friday, August 16th. Erste Group Bank reissued a “hold” rating on shares of Intuit in a report on Friday, June 14th. JPMorgan Chase & Co. upped their price target on shares of Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Finally, Citigroup lifted their price objective on shares of Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $720.37.

Intuit Price Performance

Shares of INTU opened at $619.03 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The stock has a market cap of $173.05 billion, a PE ratio of 57.11, a PEG ratio of 3.13 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 business has a 50-day simple moving average of $635.09 and a two-hundred day simple moving average of $630.58.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data 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. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The business had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same quarter last year, the business earned $0.40 EPS. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. Analysts anticipate that Intuit Inc. will post 14.07 earnings per share for the current fiscal year.

Intuit Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be paid a $1.04 dividend. This is a boost 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 0.67%. Intuit’s payout ratio is currently 38.38%.

Insider Activity at Intuit

In other Intuit news, EVP Laura A. Fennell sold 30,159 shares of Intuit stock in a transaction dated 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 transaction, the executive vice president now directly owns 52,038 shares of the company’s stock, valued at approximately $33,427,129.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Scott D. Cook sold 2,461 shares of Intuit stock in a transaction 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 completion of the transaction, the insider now 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 available through this link. Also, EVP Laura A. Fennell sold 30,159 shares of the company’s stock in a transaction on Friday, September 20th. The shares were 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 approximately $33,427,129.68. The disclosure for this sale can be found here. Insiders sold 52,548 shares of company stock worth $33,604,124 over the last three months. Company insiders own 2.90% of the company’s stock.

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.