CX Institutional Sells 19 Shares of Intuit Inc. (NASDAQ:INTU)

CX Institutional cut its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 1.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,788 shares of the software maker’s stock after selling 19 shares during the period. CX Institutional’s holdings in Intuit were worth $1,110,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Fortitude Family Office LLC boosted its stake in Intuit by 2.8% in the second quarter. Fortitude Family Office LLC now owns 582 shares of the software maker’s stock valued at $382,000 after buying an additional 16 shares in the last quarter. WASHINGTON TRUST Co boosted its stake in shares of Intuit by 10.5% in the 2nd quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker’s stock valued at $110,000 after purchasing an additional 16 shares in the last quarter. Gemmer Asset Management LLC grew its holdings in shares of Intuit by 3.7% during the 2nd quarter. Gemmer Asset Management LLC now owns 448 shares of the software maker’s stock valued at $294,000 after purchasing an additional 16 shares during the last quarter. Capital Advisors Ltd. LLC grew its holdings in shares of Intuit by 2.6% during the 1st quarter. Capital Advisors Ltd. LLC now owns 659 shares of the software maker’s stock valued at $429,000 after purchasing an additional 17 shares during the last quarter. Finally, Stonebrook Private Inc. increased its position in Intuit by 4.5% during the 1st quarter. Stonebrook Private Inc. now owns 398 shares of the software maker’s stock worth $259,000 after purchasing an additional 17 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Sandeep Aujla sold 4,000 shares of Intuit stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $617.28, for a total value of $2,469,120.00. Following the completion of the sale, the chief financial officer now owns 452 shares in the company, valued at $279,010.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Intuit news, insider Scott D. Cook sold 2,461 shares of the 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 owns 6,453,105 shares in the company, valued at approximately $4,111,853,974.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sandeep Aujla sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $617.28, for a total value of $2,469,120.00. Following the sale, the chief financial officer now owns 452 shares of the company’s stock, valued at approximately $279,010.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,297 shares of company stock worth $35,220,046. Corporate insiders own 2.90% of the company’s stock.

Intuit Trading Down 1.4 %

NASDAQ:INTU opened at $609.39 on Thursday. Intuit Inc. has a 52 week low of $473.56 and a 52 week high of $676.62. The firm’s fifty day moving average is $631.07 and its 200-day moving average is $627.85. The firm has a market cap of $170.35 billion, a P/E ratio of 56.22, a P/E/G ratio of 3.04 and a beta of 1.24. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. The firm 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 revenue was up 17.4% compared to the same quarter last year. During the same period last year, the business posted $0.40 EPS. Equities analysts expect that Intuit Inc. will post 14.04 earnings per share for the current year.

Intuit Increases Dividend

The firm also recently declared 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 of this dividend is Thursday, October 10th. This is a positive change from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 0.68%. Intuit’s payout ratio is 38.38%.

Wall Street Analysts Forecast Growth

INTU has been the topic of a number of research reports. Barclays decreased their target price 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. Piper Sandler restated an “overweight” rating and set a $768.00 price objective on shares of Intuit in a research report on Friday, September 27th. BMO Capital Markets increased their target price on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Susquehanna reissued a “positive” rating and set a $757.00 price target on shares of Intuit in a research note on Friday, August 16th. Finally, Stifel Nicolaus upped their price objective on Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $735.71.

About Intuit

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.