Intuit Inc. (NASDAQ:INTU) Shares Purchased by New Century Financial Group LLC

New Century Financial Group LLC raised its stake in Intuit Inc. (NASDAQ:INTU) by 52.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,149 shares of the software maker’s stock after buying an additional 394 shares during the quarter. New Century Financial Group LLC’s holdings in Intuit were worth $755,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of INTU. Founders Financial Alliance LLC lifted its holdings in shares of Intuit by 79.8% in the 2nd quarter. Founders Financial Alliance LLC now owns 676 shares of the software maker’s stock worth $444,000 after acquiring an additional 300 shares during the last quarter. Cetera Investment Advisers lifted its stake in Intuit by 0.9% during the second quarter. Cetera Investment Advisers now owns 47,187 shares of the software maker’s stock worth $31,012,000 after purchasing an additional 431 shares in the last quarter. 3Chopt Investment Partners LLC purchased a new position in shares of Intuit during the second quarter worth $348,000. Ted Buchan & Co purchased a new position in shares of Intuit during the second quarter worth $6,981,000. Finally, Kimelman & Baird LLC purchased a new stake in shares of Intuit in the 2nd quarter valued at $49,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Susquehanna restated a “positive” rating and set a $757.00 target price on shares of Intuit in a report on Friday, August 16th. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a report on Monday. BMO Capital Markets upped their target price on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Citigroup raised their price target on shares of Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Finally, Morgan Stanley lowered Intuit from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $750.00 to $685.00 in a research report on Wednesday, August 14th. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $735.71.

Insider Activity

In related news, CFO Sandeep Aujla sold 1,061 shares of the firm’s stock in a transaction dated 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 owns 3,333 shares of the company’s stock, valued at $2,170,682.91. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Intuit news, EVP Laura A. Fennell sold 30,159 shares of the business’s stock in a transaction on Friday, September 20th. The shares were 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 directly owns 52,038 shares of the company’s stock, valued at approximately $33,427,129.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sandeep Aujla sold 1,061 shares of the firm’s stock in a transaction 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 completion of the sale, the chief financial officer now owns 3,333 shares of the company’s stock, valued at approximately $2,170,682.91. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,583 shares of company stock valued at $32,975,909. Insiders own 2.90% of the company’s stock.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $621.00 on Tuesday. Intuit Inc. has a 12 month low of $473.56 and a 12 month high of $676.62. The firm has a market capitalization of $173.60 billion, a P/E ratio of 57.29, a P/E/G ratio of 3.13 and a beta of 1.24. 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 company’s fifty day moving average price is $634.62 and its 200 day moving average price is $630.21.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating the consensus estimate 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 business’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.40 EPS. As a group, sell-side analysts predict 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. Shareholders of record on Thursday, October 10th will be paid a $1.04 dividend. The ex-dividend date is Thursday, October 10th. This is a positive change from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a yield of 0.67%. Intuit’s payout ratio is currently 38.38%.

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.