Wilkinson Global Asset Management LLC Has $40.15 Million Position in Intuit Inc. (NASDAQ:INTU)

Wilkinson Global Asset Management LLC cut its stake in Intuit Inc. (NASDAQ:INTU) by 1.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 64,659 shares of the software maker’s stock after selling 1,190 shares during the quarter. Intuit makes up 2.4% of Wilkinson Global Asset Management LLC’s portfolio, making the stock its 20th biggest holding. Wilkinson Global Asset Management LLC’s holdings in Intuit were worth $40,153,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Csenge Advisory Group lifted its stake in shares of Intuit by 24.9% in the 1st quarter. Csenge Advisory Group now owns 723 shares of the software maker’s stock valued at $470,000 after purchasing an additional 144 shares during the last quarter. Manchester Capital Management LLC increased its holdings in shares of Intuit by 7.6% during the 1st quarter. Manchester Capital Management LLC now owns 479 shares of the software maker’s stock valued at $312,000 after acquiring an additional 34 shares during the last quarter. Advisory Services Network LLC raised its stake in shares of Intuit by 3.2% in the 1st quarter. Advisory Services Network LLC now owns 11,779 shares of the software maker’s stock valued at $7,657,000 after acquiring an additional 368 shares in the last quarter. Gallacher Capital Management LLC bought a new stake in Intuit during the first quarter worth approximately $245,000. Finally, Empirical Finance LLC boosted its holdings in shares of Intuit by 3.5% during the 1st quarter. Empirical Finance LLC now owns 10,004 shares of the software maker’s stock worth $6,503,000 after buying an additional 340 shares during the period. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on INTU shares. Bank of America upped their price target on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Stifel Nicolaus lifted their price target on Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Jefferies Financial Group increased their price objective on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Morgan Stanley downgraded shares of Intuit from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $750.00 to $685.00 in a report on Wednesday, August 14th. Finally, StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a report on Monday, September 30th. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $735.71.

Insider Activity at Intuit

In other Intuit news, CFO Sandeep Aujla sold 4,000 shares of the firm’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $617.28, for a total value of $2,469,120.00. Following the completion of the sale, the chief financial officer now owns 452 shares in the company, valued at approximately $279,010.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Scott D. Cook sold 2,461 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was 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 in the company, valued at $4,111,853,974.95. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Sandeep Aujla sold 4,000 shares of the business’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 sale, the chief financial officer now directly owns 452 shares of the company’s stock, valued at $279,010.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,297 shares of company stock valued at $35,220,046 over the last ninety days. 2.90% of the stock is owned by insiders.

Intuit Price Performance

Intuit stock opened at $648.39 on Thursday. The company has a market capitalization of $181.74 billion, a PE ratio of 62.05, a price-to-earnings-growth ratio of 3.03 and a beta of 1.25. The business has a 50 day simple moving average of $623.43 and a 200 day simple moving average of $626.96. Intuit Inc. has a one year low of $506.97 and a one year high of $676.62. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29.

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

Intuit Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were paid a $1.04 dividend. The ex-dividend date was Thursday, October 10th. This is a positive change from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.64%. Intuit’s dividend payout ratio (DPR) is 39.81%.

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.