Aljian Capital Management LLC Raises Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Aljian Capital Management LLC grew its stake in Intuit Inc. (NASDAQ:INTU) by 1.3% during the 3rd quarter, Holdings Channel reports. The firm owned 6,048 shares of the software maker’s stock after purchasing an additional 75 shares during the quarter. Intuit makes up approximately 0.9% of Aljian Capital Management LLC’s investment portfolio, making the stock its 19th largest position. Aljian Capital Management LLC’s holdings in Intuit were worth $3,756,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Westfuller Advisors LLC acquired a new stake in Intuit in the 3rd quarter worth about $207,000. Thrivent Financial for Lutherans boosted its stake in shares of Intuit by 2.7% in the third quarter. Thrivent Financial for Lutherans now owns 14,733 shares of the software maker’s stock worth $9,149,000 after acquiring an additional 388 shares during the last quarter. Concord Asset Management LLC VA increased its position in shares of Intuit by 12.3% during the third quarter. Concord Asset Management LLC VA now owns 1,383 shares of the software maker’s stock worth $859,000 after purchasing an additional 151 shares in the last quarter. Atlanta Consulting Group Advisors LLC purchased a new stake in shares of Intuit during the third quarter worth approximately $396,000. Finally, Sather Financial Group Inc boosted its stake in Intuit by 0.7% during the 3rd quarter. Sather Financial Group Inc now owns 71,623 shares of the software maker’s stock worth $44,478,000 after purchasing an additional 508 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling

In other Intuit news, EVP Alex G. Balazs sold 2,941 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total value of $1,849,183.16. Following the completion of the transaction, the executive vice president now directly owns 20 shares of the company’s stock, valued at $12,575.20. This represents a 99.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Sandeep Aujla sold 862 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total value of $535,327.86. Following the sale, the chief financial officer now owns 3,840 shares of the company’s stock, valued at approximately $2,384,755.20. This trade represents a 18.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,297 shares of company stock worth $35,220,046 in the last ninety days. Insiders own 2.90% of the company’s stock.

Intuit Stock Performance

Shares of INTU stock opened at $687.87 on Monday. The stock’s 50-day moving average price is $633.08 and its 200 day moving average price is $630.19. Intuit Inc. has a 52-week low of $552.68 and a 52-week high of $714.78. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $192.80 billion, a PE ratio of 65.82, a price-to-earnings-growth ratio of 3.36 and a beta of 1.25.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. Intuit’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.40 earnings per share. As a group, equities research analysts forecast that Intuit Inc. will post 14.05 EPS for the current year.

Intuit Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were given a $1.04 dividend. The ex-dividend date was Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.60%. This is a boost from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio (DPR) is currently 39.81%.

Analyst Ratings Changes

A number of analysts have commented on INTU shares. BMO Capital Markets increased their price objective on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Barclays lifted their price target on shares of Intuit from $740.00 to $800.00 and gave the company an “overweight” rating in a research report on Friday. Morgan Stanley lowered Intuit from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $750.00 to $685.00 in a research report on Wednesday, August 14th. Susquehanna reaffirmed a “positive” rating and issued a $757.00 price target on shares of Intuit in a research note on Friday, August 16th. Finally, Bank of America increased their target price on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $739.24.

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.