Intuit Inc. (NASDAQ:INTU) Shares Sold by Addenda Capital Inc.

Addenda Capital Inc. lowered its stake in Intuit Inc. (NASDAQ:INTU) by 6.0% during the first quarter, Holdings Channel.com reports. The firm owned 15,168 shares of the software maker’s stock after selling 976 shares during the quarter. Addenda Capital Inc.’s holdings in Intuit were worth $9,859,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Desjardins Global Asset Management Inc. raised its position in Intuit by 1.4% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 1,181 shares of the software maker’s stock valued at $738,000 after purchasing an additional 16 shares in the last quarter. JFS Wealth Advisors LLC raised its position in shares of Intuit by 1.0% during the 4th quarter. JFS Wealth Advisors LLC now owns 1,564 shares of the software maker’s stock worth $978,000 after acquiring an additional 16 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Intuit by 3.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 449 shares of the software maker’s stock worth $281,000 after acquiring an additional 16 shares in the last quarter. GAM Holding AG raised its position in shares of Intuit by 0.3% during the 4th quarter. GAM Holding AG now owns 5,873 shares of the software maker’s stock worth $3,671,000 after acquiring an additional 17 shares in the last quarter. Finally, Janiczek Wealth Management LLC raised its position in shares of Intuit by 2.4% during the 4th quarter. Janiczek Wealth Management LLC now owns 716 shares of the software maker’s stock worth $448,000 after acquiring an additional 17 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on INTU shares. Morgan Stanley raised their target price on Intuit from $680.00 to $740.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research report on Monday, May 27th. Wells Fargo & Company raised their target price on Intuit from $725.00 to $750.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 21st. Erste Group Bank reissued a “hold” rating on shares of Intuit in a research report on Friday, June 14th. Finally, Susquehanna cut their price target on Intuit from $775.00 to $757.00 and set a “positive” rating on the stock in a research report on Friday, May 24th. Five investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $683.91.

Insider Activity at Intuit

In related news, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total value of $44,838,750.00. Following the sale, the insider now directly owns 6,791,469 shares in the company, valued at $4,060,279,741.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Intuit news, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total transaction of $44,838,750.00. Following the sale, the insider now directly owns 6,791,469 shares in the company, valued at $4,060,279,741.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Scott D. Cook sold 27,309 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $593.16, for a total value of $16,198,606.44. Following the completion of the sale, the insider now owns 6,524,412 shares in the company, valued at $3,870,020,221.92. The disclosure for this sale can be found here. Insiders have sold a total of 193,937 shares of company stock worth $113,123,232 over the last three months. 2.90% of the stock is currently owned by corporate insiders.

Intuit Stock Performance

Shares of NASDAQ:INTU traded up $5.77 during trading on Friday, reaching $657.21. The company had a trading volume of 1,753,974 shares, compared to its average volume of 1,351,102. The firm has a market capitalization of $183.72 billion, a price-to-earnings ratio of 60.63, a price-to-earnings-growth ratio of 3.66 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. The stock’s fifty day moving average price is $618.61 and its 200 day moving average price is $627.92. Intuit Inc. has a fifty-two week low of $444.19 and a fifty-two week high of $676.62.

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

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Wednesday, July 10th will be paid 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 dividend yield of 0.55%. Intuit’s dividend payout ratio (DPR) is presently 33.21%.

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.