Country Club Bank Acquires New Stake in Intuit Inc. (NASDAQ:INTU)

Country Club Bank purchased a new position in shares of Intuit Inc. (NASDAQ:INTU) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 645 shares of the software maker’s stock, valued at approximately $399,000.

Several other large investors also recently bought and sold shares of INTU. Brookstone Capital Management increased its holdings in Intuit by 4.7% during the 1st quarter. Brookstone Capital Management now owns 2,141 shares of the software maker’s stock worth $1,392,000 after purchasing an additional 97 shares during the period. Wealthcare Advisory Partners LLC increased its holdings in Intuit by 23.7% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 793 shares of the software maker’s stock worth $515,000 after purchasing an additional 152 shares during the period. Kathmere Capital Management LLC increased its holdings in Intuit by 16.0% during the 1st quarter. Kathmere Capital Management LLC now owns 398 shares of the software maker’s stock worth $259,000 after purchasing an additional 55 shares during the period. Vicus Capital purchased a new stake in Intuit during the 1st quarter worth about $225,000. Finally, Founders Financial Securities LLC boosted its position in shares of Intuit by 3.8% during the 1st quarter. Founders Financial Securities LLC now owns 719 shares of the software maker’s stock worth $467,000 after acquiring an additional 26 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other Intuit news, CFO Sandeep Aujla sold 862 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total transaction of $535,327.86. Following the sale, the chief financial officer now owns 3,840 shares in the company, valued at approximately $2,384,755.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Eve B. Burton sold 2,988 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $649.87, for a total transaction of $1,941,811.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Sandeep Aujla sold 862 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the sale, the chief financial officer now owns 3,840 shares in the company, valued at $2,384,755.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,297 shares of company stock worth $35,220,046. 2.90% of the stock is owned by insiders.

Analysts Set New Price Targets

INTU has been the subject of several analyst reports. Susquehanna reaffirmed a “positive” rating and set a $757.00 price objective on shares of Intuit in a research report on Friday, August 16th. Morgan Stanley cut Intuit from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $750.00 to $685.00 in a research report on Wednesday, August 14th. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. Stifel Nicolaus increased their price objective on Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Finally, Royal Bank of Canada began coverage on Intuit in a research report on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 price objective for the company. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Intuit has an average rating of “Moderate Buy” and a consensus target price of $735.71.

Intuit Stock Performance

Shares of INTU stock opened at $609.27 on Friday. Intuit Inc. has a 12-month low of $473.56 and a 12-month high of $676.62. The company has a market cap of $170.77 billion, a price-to-earnings ratio of 58.30, a price-to-earnings-growth ratio of 2.98 and a beta of 1.24. The stock has a 50 day simple moving average of $626.86 and a 200-day simple moving average of $626.63. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last released its quarterly earnings data 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. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period last year, the business posted $0.40 EPS. Intuit’s quarterly revenue was up 17.4% on a year-over-year basis. On average, equities analysts forecast that Intuit Inc. will post 14.04 EPS for the current year.

Intuit Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Thursday, October 10th were paid a $1.04 dividend. This is an increase from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend was Thursday, October 10th. Intuit’s dividend payout ratio (DPR) is presently 39.81%.

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.