Congress Asset Management Co. MA Boosts Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Congress Asset Management Co. MA boosted its position in shares of Intuit Inc. (NASDAQ:INTU) by 0.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 211,244 shares of the software maker’s stock after buying an additional 1,860 shares during the period. Intuit accounts for about 1.0% of Congress Asset Management Co. MA’s portfolio, making the stock its 26th largest holding. Congress Asset Management Co. MA owned 0.08% of Intuit worth $132,034,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Desjardins Global Asset Management Inc. lifted its stake in Intuit by 1.4% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 1,181 shares of the software maker’s stock worth $738,000 after purchasing an additional 16 shares in the last quarter. JFS Wealth Advisors LLC lifted its stake in Intuit by 1.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 1,564 shares of the software maker’s stock worth $978,000 after purchasing an additional 16 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Intuit by 3.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 449 shares of the software maker’s stock worth $281,000 after purchasing an additional 16 shares in the last quarter. GAM Holding AG lifted its stake in Intuit by 0.3% during the fourth quarter. GAM Holding AG now owns 5,873 shares of the software maker’s stock worth $3,671,000 after purchasing an additional 17 shares in the last quarter. Finally, Janiczek Wealth Management LLC lifted its stake in Intuit by 2.4% during the fourth quarter. Janiczek Wealth Management LLC now owns 716 shares of the software maker’s stock worth $448,000 after purchasing an additional 17 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Intuit news, CFO Sandeep Aujla sold 1,415 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total value of $855,480.70. Following the transaction, the chief financial officer now owns 2,332 shares in the company, valued at approximately $1,409,880.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Sandeep Aujla sold 1,415 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total transaction of $855,480.70. Following the sale, the chief financial officer now directly owns 2,332 shares of the company’s stock, valued at approximately $1,409,880.56. The disclosure for this sale can be found here. Insiders have sold 194,217 shares of company stock worth $113,301,418 in the last quarter. 2.90% of the stock is owned by corporate insiders.

Intuit Trading Up 0.2 %

INTU stock traded up $1.08 during midday trading on Friday, hitting $595.70. The stock had a trading volume of 1,070,500 shares, compared to its average volume of 1,784,930. The firm has a market cap of $166.53 billion, a PE ratio of 54.95, a price-to-earnings-growth ratio of 3.40 and a beta of 1.21. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.50 and a quick ratio of 1.50. Intuit Inc. has a 12-month low of $441.04 and a 12-month high of $676.62. The company’s 50-day moving average price is $617.54 and its 200 day moving average price is $624.57.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, May 23rd. The software maker reported $9.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.12 by $1.76. The company had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $6.65 billion. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company earned $7.80 EPS. On average, equities research analysts predict that Intuit Inc. will post 11.72 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Wednesday, July 10th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $3.60 dividend on an annualized basis and a yield of 0.60%. Intuit’s dividend payout ratio is currently 33.21%.

Analyst Ratings Changes

Several brokerages have recently issued reports on INTU. Barclays increased their price objective on Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Erste Group Bank reissued a “hold” rating on shares of Intuit in a report on Friday. JPMorgan Chase & Co. increased their target price on Intuit from $560.00 to $585.00 and gave the company a “neutral” rating in a report on Friday, February 23rd. BMO Capital Markets reissued an “outperform” rating and issued a $700.00 target price on shares of Intuit in a report on Tuesday, March 26th. Finally, Mizuho raised their price objective on Intuit from $670.00 to $725.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Five analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, Intuit has a consensus rating of “Moderate Buy” and an average target price of $679.41.

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.