Intuit Inc. (NASDAQ:INTU) Shares Sold by Focus Financial Network Inc.

Focus Financial Network Inc. trimmed its stake in shares of Intuit Inc. (NASDAQ:INTU) by 3.8% during the third quarter, Holdings Channel reports. The institutional investor owned 2,165 shares of the software maker’s stock after selling 85 shares during the period. Focus Financial Network Inc.’s holdings in Intuit were worth $1,344,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Securities Inc. increased its stake in shares of Intuit by 9.6% during the third quarter. Principal Securities Inc. now owns 6,888 shares of the software maker’s stock valued at $4,278,000 after acquiring an additional 606 shares during the period. Stephens Inc. AR boosted its stake in Intuit by 1.6% during the 3rd quarter. Stephens Inc. AR now owns 12,156 shares of the software maker’s stock valued at $7,549,000 after purchasing an additional 193 shares in the last quarter. Oak Ridge Investments LLC increased its position in shares of Intuit by 7.0% during the 3rd quarter. Oak Ridge Investments LLC now owns 15,549 shares of the software maker’s stock valued at $9,656,000 after purchasing an additional 1,019 shares during the period. United Asset Strategies Inc. raised its stake in shares of Intuit by 6.5% in the 3rd quarter. United Asset Strategies Inc. now owns 1,793 shares of the software maker’s stock worth $1,113,000 after buying an additional 109 shares in the last quarter. Finally, Congress Asset Management Co. lifted its holdings in shares of Intuit by 0.8% in the third quarter. Congress Asset Management Co. now owns 217,241 shares of the software maker’s stock valued at $134,907,000 after buying an additional 1,627 shares during the period. 83.66% of the stock is currently owned by institutional investors.

Insider Transactions at Intuit

In related news, CFO Sandeep Aujla sold 4,000 shares of Intuit stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the completion of the sale, the chief financial officer now owns 452 shares of the company’s stock, valued at approximately $279,010.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Sandeep Aujla sold 4,000 shares of the stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $617.28, for a total value of $2,469,120.00. Following the transaction, the chief financial officer now owns 452 shares in the company, valued at approximately $279,010.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Laura A. Fennell sold 30,159 shares of the stock in a transaction on 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 owns 52,038 shares in the company, valued at approximately $33,427,129.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 55,297 shares of company stock valued at $35,220,046. 2.90% of the stock is owned by insiders.

Intuit Stock Up 1.9 %

Shares of Intuit stock opened at $621.74 on Friday. 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 Inc. has a 1 year low of $489.55 and a 1 year high of $676.62. The stock has a 50-day moving average price of $622.92 and a 200 day moving average price of $626.44. The company has a market cap of $174.27 billion, a P/E ratio of 59.50, a P/E/G ratio of 3.04 and a beta of 1.24.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping 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 period in the prior year, the firm earned $0.40 earnings per share. The firm’s revenue was up 17.4% compared to the same quarter last year. As a group, analysts expect that Intuit Inc. will post 14.04 EPS for the current fiscal year.

Intuit Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were issued a dividend of $1.04 per share. This is a boost from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a dividend yield of 0.67%. The ex-dividend date was Thursday, October 10th. Intuit’s payout ratio is currently 39.81%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Barclays lowered their target price on Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a report on Friday, August 23rd. Stifel Nicolaus boosted their target price on shares of Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. JPMorgan Chase & Co. raised their target price on shares of Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. BMO Capital Markets upped their price target on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Finally, Morgan Stanley lowered Intuit from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $750.00 to $685.00 in a research note on Wednesday, August 14th. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $735.71.

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.