Jensen Investment Management Inc. Reduces Stock Position in Intuit Inc. (NASDAQ:INTU)

Jensen Investment Management Inc. reduced its stake in Intuit Inc. (NASDAQ:INTU) by 5.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,040,174 shares of the software maker’s stock after selling 54,455 shares during the quarter. Intuit makes up 5.6% of Jensen Investment Management Inc.’s investment portfolio, making the stock its 5th largest holding. Jensen Investment Management Inc. owned 0.37% of Intuit worth $683,613,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Aveo Capital Partners LLC purchased a new stake in shares of Intuit during the 4th quarter valued at $203,000. 9258 Wealth Management LLC raised its stake in shares of Intuit by 29.0% in the fourth quarter. 9258 Wealth Management LLC now owns 650 shares of the software maker’s stock valued at $406,000 after buying an additional 146 shares during the period. Wealthcare Advisory Partners LLC lifted its holdings in Intuit by 15.1% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 641 shares of the software maker’s stock valued at $401,000 after purchasing an additional 84 shares during the last quarter. Private Advisor Group LLC lifted its stake in shares of Intuit by 6.3% during the 4th quarter. Private Advisor Group LLC now owns 7,236 shares of the software maker’s stock valued at $4,523,000 after buying an additional 431 shares in the last quarter. Finally, Gryphon Financial Partners LLC lifted its position in shares of Intuit by 31.6% during the fourth quarter. Gryphon Financial Partners LLC now owns 1,635 shares of the software maker’s stock worth $1,022,000 after acquiring an additional 393 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on INTU. UBS Group increased their target price 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. BMO Capital Markets lifted their target price 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. JPMorgan Chase & Co. raised their price objective on shares of Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Barclays reduced their target price on Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. Finally, Royal Bank of Canada assumed coverage on Intuit in a research report on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 price objective on the stock. Five analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Intuit has a consensus rating of “Moderate Buy” and an average price target of $716.35.

Insiders Place Their Bets

In other news, CFO Sandeep Aujla sold 1,061 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $651.27, for a total value of $690,997.47. Following the completion of the transaction, the chief financial officer now owns 3,333 shares in the company, valued at approximately $2,170,682.91. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $567.75, for a total transaction of $42,581,250.00. Following the sale, the insider now owns 6,626,721 shares of the company’s stock, valued at $3,762,320,847.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Sandeep Aujla sold 1,061 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $651.27, for a total transaction of $690,997.47. Following the transaction, the chief financial officer now directly owns 3,333 shares of the company’s stock, valued at approximately $2,170,682.91. The disclosure for this sale can be found here. In the last quarter, insiders have sold 116,308 shares of company stock worth $67,651,926. Company insiders own 2.90% of the company’s stock.

Intuit Trading Up 0.5 %

NASDAQ:INTU traded up $3.00 during mid-day trading on Friday, reaching $624.48. 73,476 shares of the company’s stock traded hands, compared to its average volume of 1,325,113. Intuit Inc. has a 12-month low of $473.56 and a 12-month 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 1.50. The company has a 50 day moving average price of $639.26 and a 200-day moving average price of $632.71. The firm has a market capitalization of $174.57 billion, a price-to-earnings ratio of 57.33, a PEG ratio of 3.08 and a beta of 1.23.

Intuit (NASDAQ:INTU) last announced its earnings results 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 company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the prior year, the company earned $0.40 earnings per share. The firm’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 14.06 earnings per share for the current year.

Intuit Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.67%. This is a boost from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date is Thursday, October 10th. Intuit’s payout ratio is presently 38.38%.

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.