Northwest & Ethical Investments L.P. Raises Holdings in Intuit Inc. (NASDAQ:INTU)

Northwest & Ethical Investments L.P. grew its stake in Intuit Inc. (NASDAQ:INTU) by 10.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 37,122 shares of the software maker’s stock after buying an additional 3,503 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Intuit were worth $23,053,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in INTU. LGT Financial Advisors LLC purchased a new position in Intuit in the second quarter worth approximately $25,000. Cultivar Capital Inc. purchased a new stake in shares of Intuit during the 2nd quarter worth $26,000. Fairway Wealth LLC acquired a new position in shares of Intuit during the second quarter worth $26,000. Northwest Investment Counselors LLC purchased a new position in Intuit in the third quarter valued at $27,000. Finally, Hobbs Group Advisors LLC acquired a new stake in Intuit in the second quarter valued at $35,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Stock Performance

Shares of Intuit stock traded down $2.66 during trading hours on Thursday, hitting $636.17. 1,375,963 shares of the company were exchanged, compared to its average volume of 1,366,323. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The business has a 50-day moving average of $634.52 and a 200-day moving average of $631.32. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78. The stock has a market capitalization of $178.15 billion, a price-to-earnings ratio of 61.76, a P/E/G ratio of 3.14 and a beta of 1.25.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. Intuit’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.14 EPS. As a group, analysts expect that Intuit Inc. will post 14.05 EPS for the current fiscal year.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Thursday, January 9th. Intuit’s dividend payout ratio is presently 40.39%.

Insider Buying and Selling at Intuit

In other news, CFO Sandeep Aujla sold 775 shares of the company’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total transaction of $466,015.25. Following the transaction, the chief financial officer now directly owns 4,451 shares of the company’s stock, valued at $2,676,430.81. This represents a 14.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Scott D. Cook sold 2,461 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the completion of the sale, the insider now owns 6,453,105 shares of the company’s stock, valued at $4,111,853,974.95. This trade represents a 0.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 130,265 shares of company stock valued at $83,336,625. 2.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

INTU has been the subject of several analyst reports. Barclays lowered their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Bank of America increased their price target on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Jefferies Financial Group raised their price objective on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Oppenheimer upped their target price on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Finally, BMO Capital Markets boosted their price target on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $737.44.

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.