Chicago Capital LLC Acquires 1,608 Shares of Intuit Inc. (NASDAQ:INTU)

Chicago Capital LLC grew its holdings in Intuit Inc. (NASDAQ:INTU) by 1.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 141,599 shares of the software maker’s stock after acquiring an additional 1,608 shares during the period. Intuit comprises approximately 2.8% of Chicago Capital LLC’s portfolio, making the stock its 8th largest position. Chicago Capital LLC owned 0.05% of Intuit worth $93,060,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. LGT Financial Advisors LLC acquired a new stake in Intuit in the second quarter valued at approximately $25,000. Cultivar Capital Inc. purchased a new position in Intuit in the second quarter valued at approximately $26,000. West Branch Capital LLC boosted its holdings in shares of Intuit by 79.2% in the 1st quarter. West Branch Capital LLC now owns 43 shares of the software maker’s stock valued at $28,000 after buying an additional 19 shares in the last quarter. Hobbs Group Advisors LLC acquired a new stake in Intuit during the 2nd quarter worth $35,000. Finally, Sachetta LLC purchased a new stake in Intuit in the fourth quarter valued at $39,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Activity at Intuit

In other Intuit news, EVP Kerry J. Mclean sold 11,079 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the transaction, the executive vice president now owns 24,941 shares of the company’s stock, valued at $15,752,985.01. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Sandeep Aujla sold 862 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total transaction of $535,327.86. Following the completion of the sale, the chief financial officer now owns 3,840 shares in the company, valued at approximately $2,384,755.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kerry J. Mclean sold 11,079 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the completion of the transaction, the executive vice president now owns 24,941 shares in the company, valued at approximately $15,752,985.01. The disclosure for this sale can be found here. Over the last three months, insiders sold 116,308 shares of company stock worth $67,651,926. 2.90% of the stock is owned by company insiders.

Intuit Trading Down 1.0 %

INTU stock traded down $6.36 during midday trading on Friday, hitting $615.12. The stock had a trading volume of 999,734 shares, compared to its average volume of 1,330,498. Intuit Inc. has a 12-month low of $473.56 and a 12-month high of $676.62. The firm has a market cap of $171.95 billion, a PE ratio of 56.75, a price-to-earnings-growth ratio of 3.08 and a beta of 1.23. The company’s 50-day moving average price is $638.42 and its 200 day moving average price is $632.43. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.50.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating the consensus estimate of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The firm had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same period in the prior year, the firm posted $0.40 earnings per share. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. On average, equities research analysts predict that Intuit Inc. will post 14.06 earnings per share for the current fiscal year.

Intuit Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be given a $1.04 dividend. The ex-dividend date is Thursday, October 10th. This is a boost from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a dividend yield of 0.68%. Intuit’s dividend payout ratio (DPR) is currently 38.38%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. 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. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research note on Saturday, August 31st. Erste Group Bank restated a “hold” rating on shares of Intuit in a research report on Friday, June 14th. Royal Bank of Canada started coverage on shares of Intuit in a report on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 target price on the stock. Finally, UBS Group increased their price target on shares of Intuit from $625.00 to $670.00 and gave the stock a “neutral” rating in a research note on Monday, May 20th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, Intuit has an average rating of “Moderate Buy” and a consensus price target of $720.37.

Intuit 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.