Geneva Capital Management LLC Sells 1,605 Shares of Intuit Inc. (NASDAQ:INTU)

Geneva Capital Management LLC reduced its position in Intuit Inc. (NASDAQ:INTU) by 2.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 70,800 shares of the software maker’s stock after selling 1,605 shares during the quarter. Geneva Capital Management LLC’s holdings in Intuit were worth $46,020,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of INTU. DiNuzzo Private Wealth Inc. acquired a new position in Intuit in the fourth quarter valued at $25,000. West Branch Capital LLC boosted its position in shares of Intuit by 79.2% during the 1st quarter. West Branch Capital LLC now owns 43 shares of the software maker’s stock valued at $28,000 after purchasing an additional 19 shares in the last quarter. MCF Advisors LLC grew its stake in Intuit by 119.0% during the fourth quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock worth $29,000 after purchasing an additional 25 shares during the period. Wetzel Investment Advisors Inc. bought a new stake in Intuit in the fourth quarter worth approximately $38,000. Finally, Sachetta LLC acquired a new position in Intuit in the fourth quarter valued at approximately $39,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $597.85, for a total value of $44,838,750.00. Following the transaction, 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 filing with the SEC, which can be accessed through this hyperlink. In related news, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $597.85, for a total value of $44,838,750.00. Following the sale, the insider now owns 6,791,469 shares of the company’s stock, valued at approximately $4,060,279,741.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sandeep Aujla sold 1,061 shares of the stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $651.27, for a total value of $690,997.47. Following the transaction, the chief financial officer now directly owns 3,333 shares of the company’s stock, valued at $2,170,682.91. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 195,963 shares of company stock worth $114,442,445. Insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Jefferies Financial Group reaffirmed a “buy” rating and set a $770.00 price objective on shares of Intuit in a research report on Thursday, June 13th. KeyCorp upped their price objective on shares of Intuit from $720.00 to $740.00 and gave the company an “overweight” rating in a report on Monday, May 20th. Morgan Stanley raised their target price on Intuit from $680.00 to $740.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. Bank of America dropped their price target on Intuit from $760.00 to $730.00 and set a “buy” rating on the stock in a research note on Friday, May 24th. Finally, UBS Group raised their price objective on Intuit from $625.00 to $670.00 and gave the company a “neutral” rating in a research note on Monday, May 20th. Five equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $687.22.

Intuit Stock Performance

Shares of Intuit stock traded down $3.43 during mid-day trading on Thursday, hitting $629.41. 1,234,343 shares of the stock were exchanged, compared to its average volume of 1,342,521. Intuit Inc. has a 12 month low of $469.23 and a 12 month high of $676.62. The company has a 50-day simple moving average of $623.01 and a 200 day simple moving average of $630.38. The company has a market capitalization of $175.95 billion, a P/E ratio of 58.07, a P/E/G ratio of 3.77 and a beta of 1.23. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.50 and a current ratio of 1.50.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, May 23rd. The software maker reported $9.88 EPS for the quarter, topping analysts’ consensus estimates of $8.12 by $1.76. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The business had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.65 billion. During the same period last year, the company posted $7.80 earnings per share. Intuit’s quarterly revenue was up 11.9% compared to the same quarter last year. Sell-side analysts anticipate that Intuit Inc. will post 11.72 earnings per share for the current fiscal year.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Wednesday, July 10th will be given a dividend of $0.90 per share. The ex-dividend date is Wednesday, July 10th. This represents a $3.60 annualized dividend and a yield of 0.57%. Intuit’s payout ratio is currently 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.