Intuit Inc. (NASDAQ:INTU) Shares Purchased by Harbour Capital Advisors LLC

Harbour Capital Advisors LLC boosted its position in shares of Intuit Inc. (NASDAQ:INTU) by 0.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 8,738 shares of the software maker’s stock after acquiring an additional 20 shares during the period. Intuit accounts for about 1.3% of Harbour Capital Advisors LLC’s portfolio, making the stock its 18th biggest holding. Harbour Capital Advisors LLC’s holdings in Intuit were worth $5,432,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of INTU. Intech Investment Management LLC increased its holdings in Intuit by 134.7% in the first quarter. Intech Investment Management LLC now owns 4,601 shares of the software maker’s stock valued at $2,991,000 after buying an additional 2,641 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Intuit by 33.7% during the 3rd quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock worth $2,383,000 after acquiring an additional 968 shares in the last quarter. Cetera Advisors LLC lifted its stake in Intuit by 33.4% during 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 last quarter. Park Avenue Securities LLC boosted its holdings in Intuit by 13.4% in the second 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. Finally, New Mexico Educational Retirement Board boosted its holdings in Intuit by 13.0% in the first quarter. New Mexico Educational Retirement Board now owns 16,478 shares of the software maker’s stock valued at $10,711,000 after purchasing an additional 1,900 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Stock Performance

Shares of INTU opened at $609.23 on Friday. The company has a market capitalization of $170.31 billion, a price-to-earnings ratio of 56.20, a PEG ratio of 3.04 and a beta of 1.24. 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 1 year low of $473.56 and a 1 year high of $676.62. The company’s 50 day simple moving average is $630.74 and its 200 day simple moving average is $627.72.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the previous year, the business earned $0.40 earnings per share. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. On average, sell-side analysts predict that Intuit Inc. will post 14.04 EPS for the current year.

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be issued a dividend of $1.04 per share. This is a positive change from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend is Thursday, October 10th. Intuit’s dividend payout ratio is presently 38.38%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on INTU. Morgan Stanley downgraded shares of Intuit from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $750.00 to $685.00 in a research report on Wednesday, August 14th. JPMorgan Chase & Co. upped their price objective on shares of Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Citigroup lifted their target price on Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. 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 restated a “positive” rating and set a $757.00 price target on shares of Intuit in a research note on Friday, August 16th. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Intuit has an average rating of “Moderate Buy” and a consensus target price of $735.71.

Insider Buying and Selling

In other Intuit news, CFO Sandeep Aujla sold 4,000 shares of the stock in a transaction that occurred 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 $279,010.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Sandeep Aujla sold 4,000 shares of the firm’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $617.28, for a total value of $2,469,120.00. Following the transaction, the chief financial officer now directly owns 452 shares in the company, valued at $279,010.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Alex G. Balazs sold 2,941 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total value of $1,849,183.16. Following the sale, the executive vice president now owns 20 shares of the company’s stock, valued at $12,575.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,297 shares of company stock valued at $35,220,046. Insiders own 2.90% of the company’s stock.

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.