L. Roy Papp & Associates LLP Boosts Stock Position in Intuit Inc. (NASDAQ:INTU)

L. Roy Papp & Associates LLP increased its stake in Intuit Inc. (NASDAQ:INTU) by 0.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 7,765 shares of the software maker’s stock after buying an additional 25 shares during the quarter. L. Roy Papp & Associates LLP’s holdings in Intuit were worth $4,822,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in INTU. LGT Financial Advisors LLC purchased a new stake in shares of Intuit in the 2nd quarter worth approximately $25,000. Cultivar Capital Inc. purchased a new stake in Intuit during the 2nd quarter valued at $26,000. Fairway Wealth LLC purchased a new stake in Intuit during the 2nd quarter valued at $26,000. Northwest Investment Counselors LLC purchased a new stake in Intuit during the 3rd quarter valued at $27,000. Finally, Hobbs Group Advisors LLC purchased a new stake in Intuit during the 2nd quarter valued at $35,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling

In related news, CFO Sandeep Aujla sold 4,000 shares of Intuit stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 452 shares in the company, 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 legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Alex G. Balazs sold 2,941 shares of Intuit stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total value of $1,849,183.16. Following the completion of the transaction, the executive vice president now owns 20 shares in the company, valued at approximately $12,575.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Sandeep Aujla sold 4,000 shares of Intuit stock in a transaction dated 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 completion of the transaction, 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. Over the last quarter, insiders sold 55,297 shares of company stock worth $35,220,046. Corporate insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on INTU shares. Susquehanna reiterated a “positive” rating and set a $757.00 target price on shares of Intuit in a research note on Friday, August 16th. Barclays cut their target price on Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. Jefferies Financial Group increased their target price on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Stifel Nicolaus raised their price target on Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Finally, BMO Capital Markets raised their price target on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $735.71.

Intuit Price Performance

Shares of Intuit stock traded up $5.29 during trading on Friday, reaching $609.27. 1,000,674 shares of the stock traded hands, compared to its average volume of 1,264,688. The company has a market capitalization of $170.77 billion, a price-to-earnings ratio of 58.30, a P/E/G ratio of 2.98 and a beta of 1.24. The business has a fifty day simple moving average of $626.86 and a two-hundred day simple moving average of $626.63. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. Intuit Inc. has a 52-week low of $473.56 and a 52-week high of $676.62.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share 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 analyst estimates of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.40 earnings per share. Sell-side analysts expect 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. Stockholders of record on Thursday, October 10th were given a dividend of $1.04 per share. This is a positive change from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. Intuit’s dividend payout ratio (DPR) is presently 39.81%.

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.