New Century Financial Group LLC Has $215,000 Position in Intuit Inc. (NASDAQ:INTU)

New Century Financial Group LLC cut its stake in shares of Intuit Inc. (NASDAQ:INTU) by 64.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 350 shares of the software maker’s stock after selling 636 shares during the quarter. New Century Financial Group LLC’s holdings in Intuit were worth $215,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Copia Wealth Management bought a new position in shares of Intuit during the fourth quarter valued at $25,000. NewSquare Capital LLC lifted its holdings in shares of Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after acquiring an additional 18 shares during the period. Summit Securities Group LLC bought a new position in shares of Intuit during the fourth quarter valued at $28,000. Heck Capital Advisors LLC bought a new position in shares of Intuit during the fourth quarter valued at $28,000. Finally, VSM Wealth Advisory LLC bought a new position in shares of Intuit during the fourth quarter valued at $35,000. 83.66% of the stock is owned by institutional investors.

Intuit Price Performance

Intuit stock opened at $753.98 on Friday. The firm has a market capitalization of $210.32 billion, a P/E ratio of 73.20, a PEG ratio of 2.85 and a beta of 1.28. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $773.45. The business has a 50-day moving average of $664.85 and a 200-day moving average of $630.29. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.89 by $0.76. The company had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.56 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the previous year, the company earned $9.88 EPS. On average, equities analysts anticipate that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be given a $1.04 dividend. The ex-dividend date is Thursday, July 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.55%. Intuit’s dividend payout ratio is presently 33.77%.

Insider Activity at Intuit

In related news, CFO Sandeep Aujla sold 16,061 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $726.13, for a total value of $11,662,373.93. Following the completion of the transaction, the chief financial officer now directly owns 197 shares in the company, valued at approximately $143,047.61. The trade was a 98.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Alex G. Balazs sold 1,459 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $770.80, for a total value of $1,124,597.20. The disclosure for this sale can be found here. In the last three months, insiders sold 288,408 shares of company stock worth $213,441,865. 2.68% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on INTU shares. Bank of America lifted their price objective on Intuit from $730.00 to $875.00 and gave the company a “buy” rating in a report on Friday, May 23rd. Stifel Nicolaus lifted their price target on Intuit from $725.00 to $850.00 and gave the company a “buy” rating in a report on Friday, May 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $850.00 price target (up from $760.00) on shares of Intuit in a report on Friday, May 23rd. HSBC raised Intuit from a “hold” rating to a “buy” rating and set a $699.00 price target for the company in a report on Wednesday, April 23rd. Finally, Citigroup reaffirmed a “buy” rating and issued a $789.00 price target (up from $726.00) on shares of Intuit in a report on Friday, May 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $787.95.

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.