Intuit Inc. (NASDAQ:INTU) Shares Sold by Baillie Gifford & Co.

Baillie Gifford & Co. lessened its position in Intuit Inc. (NASDAQ:INTU) by 1.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 130,533 shares of the software maker’s stock after selling 1,617 shares during the period. Baillie Gifford & Co.’s holdings in Intuit were worth $85,788,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Intech Investment Management LLC raised its position in shares of Intuit by 134.7% during the 1st quarter. Intech Investment Management LLC now owns 4,601 shares of the software maker’s stock worth $2,991,000 after buying an additional 2,641 shares in the last quarter. Parnassus Investments LLC raised its holdings in Intuit by 119.0% during the fourth quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock worth $836,377,000 after purchasing an additional 727,185 shares in the last quarter. Maryland State Retirement & Pension System lifted its position in Intuit by 1.1% in the fourth quarter. Maryland State Retirement & Pension System now owns 21,268 shares of the software maker’s stock worth $13,293,000 after purchasing an additional 226 shares during the period. Public Employees Retirement System of Ohio boosted its stake in Intuit by 1.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 179,801 shares of the software maker’s stock valued at $112,381,000 after purchasing an additional 1,990 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Intuit by 173.0% during the 4th quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock valued at $2,304,850,000 after purchasing an additional 2,336,654 shares during the period. 83.66% of the stock is currently owned by institutional investors.

Intuit Stock Down 6.8 %

Shares of INTU traded down $45.44 during midday trading on Friday, reaching $619.85. 4,113,425 shares of the stock were exchanged, compared to its average volume of 1,333,187. The company has a market cap of $173.28 billion, a price-to-earnings ratio of 57.18, a P/E/G ratio of 3.14 and a beta of 1.23. The firm has a 50 day simple moving average of $639.27 and a 200-day simple moving average of $634.43. Intuit Inc. has a 12-month low of $473.56 and a 12-month high of $676.62. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.32.

Intuit (NASDAQ:INTU) last posted its earnings results 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. The firm had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Intuit had a net margin of 19.43% and a return on equity of 18.61%. During the same period in the previous year, the company earned $0.40 earnings per share. The company’s revenue was up 17.4% compared to the same quarter last year. Research analysts forecast that Intuit Inc. will post 11.72 EPS for the current year.

Intuit Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.67%. This is an increase from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Thursday, October 10th. Intuit’s dividend payout ratio is presently 33.21%.

Wall Street Analysts Forecast Growth

INTU has been the subject of several research reports. Barclays decreased their target price on Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a research note on Friday. Susquehanna reaffirmed a “positive” rating and issued a $757.00 price objective on shares of Intuit in a research note on Friday, August 16th. UBS Group increased their price objective on Intuit from $625.00 to $670.00 and gave the company a “neutral” rating in a research report on Monday, May 20th. JPMorgan Chase & Co. lifted their target price on Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Erste Group Bank reaffirmed a “hold” rating on shares of Intuit in a research report on Friday, June 14th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and a consensus target price of $703.27.

Insider Buying and Selling at Intuit

In other news, CFO Sandeep Aujla sold 1,061 shares of the company’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 completion of the sale, the chief financial officer now owns 3,333 shares in the company, valued at approximately $2,170,682.91. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP Mark P. Notarainni sold 465 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total value of $281,129.70. Following the transaction, the executive vice president now directly owns 869 shares in the company, valued at approximately $525,380.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sandeep Aujla sold 1,061 shares of the business’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 transaction, the chief financial officer now directly 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. Insiders have sold a total of 195,963 shares of company stock worth $114,442,445 over the last three months. Corporate insiders own 2.90% of the company’s stock.

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.