Intuit Inc. (NASDAQ:INTU) Holdings Boosted by Waverton Investment Management Ltd

Waverton Investment Management Ltd raised its stake in Intuit Inc. (NASDAQ:INTU) by 3.2% in the third quarter, HoldingsChannel.com reports. The fund owned 256,637 shares of the software maker’s stock after buying an additional 7,862 shares during the quarter. Intuit accounts for 2.6% of Waverton Investment Management Ltd’s portfolio, making the stock its 20th biggest position. Waverton Investment Management Ltd’s holdings in Intuit were worth $159,372,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Intech Investment Management LLC lifted its stake in shares of Intuit by 134.7% in the 1st quarter. Intech Investment Management LLC now owns 4,601 shares of the software maker’s stock worth $2,991,000 after acquiring an additional 2,641 shares during the period. GAMMA Investing LLC increased its stake in shares of Intuit by 33.7% during the third quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock valued at $2,383,000 after acquiring an additional 968 shares during the period. Harvest Portfolios Group Inc. raised its holdings in Intuit by 5.4% during the third quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock worth $22,295,000 after purchasing an additional 1,853 shares in the last quarter. Cetera Advisors LLC lifted its position in Intuit by 33.4% in the first quarter. Cetera Advisors LLC now owns 10,607 shares of the software maker’s stock worth $6,895,000 after purchasing an additional 2,655 shares during the period. Finally, Park Avenue Securities LLC boosted its stake in Intuit by 13.4% during the 2nd quarter. Park Avenue Securities LLC now owns 11,257 shares of the software maker’s stock valued at $7,398,000 after purchasing an additional 1,328 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

Insider Buying and Selling at Intuit

In related news, CFO Sandeep Aujla sold 4,000 shares of the business’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the transaction, the chief financial officer now owns 452 shares of the company’s stock, valued at approximately $279,010.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Intuit news, CFO Sandeep Aujla sold 4,000 shares of the business’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the sale, the chief financial officer now directly owns 452 shares of the company’s stock, valued at $279,010.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Laura A. Fennell sold 30,159 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 52,038 shares in the company, valued at $33,427,129.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,297 shares of company stock valued at $35,220,046 in the last 90 days. 2.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on INTU. Morgan Stanley downgraded Intuit from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $750.00 to $685.00 in a research note on Wednesday, August 14th. JPMorgan Chase & Co. boosted their price target on shares of Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Stifel Nicolaus raised 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. Barclays decreased their target price on Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a research report on Friday, August 23rd. Finally, Susquehanna reaffirmed a “positive” rating and set a $757.00 target price on shares of Intuit in a research note on Friday, August 16th. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, Intuit has a consensus rating of “Moderate Buy” and an average price target of $735.71.

Intuit Stock Performance

INTU opened at $697.35 on Tuesday. The stock has a 50-day moving average of $625.54 and a 200-day moving average of $627.73. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. Intuit Inc. has a 52-week low of $523.32 and a 52-week high of $698.96. The company has a market cap of $195.46 billion, a PE ratio of 66.73, a price-to-earnings-growth ratio of 3.34 and a beta of 1.25.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.14. The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. Intuit’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.40 EPS. As a group, equities research analysts forecast that Intuit Inc. will post 14.04 earnings per share for the current fiscal year.

Intuit Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were paid a $1.04 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This is a positive change from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.60%. Intuit’s payout ratio is presently 39.81%.

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.