Bank of Montreal Can Reduces Position in Intuit Inc. (NASDAQ:INTU)

Bank of Montreal Can decreased its holdings in Intuit Inc. (NASDAQ:INTU) by 0.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 400,151 shares of the software maker’s stock after selling 3,823 shares during the quarter. Bank of Montreal Can owned approximately 0.14% of Intuit worth $247,706,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Fisher Asset Management LLC boosted its stake in shares of Intuit by 2.9% during the 3rd quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock valued at $2,376,984,000 after buying an additional 107,482 shares during the last quarter. Legal & General Group Plc boosted its stake in Intuit by 1.0% during the 2nd quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker’s stock valued at $1,538,236,000 after acquiring an additional 23,995 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Intuit by 1.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,688,445 shares of the software maker’s stock worth $1,048,524,000 after acquiring an additional 26,914 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Intuit by 17.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock worth $1,062,578,000 after purchasing an additional 238,486 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Intuit by 4.2% in the 2nd quarter. Principal Financial Group Inc. now owns 1,407,862 shares of the software maker’s stock valued at $925,262,000 after purchasing an additional 56,370 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on INTU. Stifel Nicolaus decreased their price target on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research note on Friday. StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a research report on Friday. Jefferies Financial Group boosted their price target on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday. Barclays decreased their price objective on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a report on Friday. Finally, Susquehanna reissued a “positive” rating and set a $757.00 target price on shares of Intuit in a report on Friday, August 16th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $737.44.

Insider Buying and Selling

In other Intuit news, EVP Alex G. Balazs sold 2,941 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total value of $1,849,183.16. Following the completion of the sale, the executive vice president now directly owns 20 shares of the company’s stock, valued at approximately $12,575.20. This represents a 99.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sandeep Aujla sold 862 shares of Intuit stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 3,840 shares in the company, valued at $2,384,755.20. This represents a 18.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,265 shares of company stock valued at $35,200,125 over the last quarter. Corporate insiders own 2.90% of the company’s stock.

Intuit Trading Down 0.9 %

Shares of INTU stock opened at $634.62 on Tuesday. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78. The firm has a market capitalization of $177.77 billion, a PE ratio of 61.61, a price-to-earnings-growth ratio of 3.13 and a beta of 1.25. The stock has a fifty day moving average of $634.58 and a two-hundred day moving average of $631.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.14. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.14 earnings per share. As a group, research analysts expect that Intuit Inc. will post 14.05 EPS for the current year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be paid a dividend of $1.04 per share. The ex-dividend date is Thursday, January 9th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.66%. Intuit’s dividend payout ratio is presently 40.39%.

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.