Sustainable Insight Capital Management LLC Takes $294,000 Position in Intuit Inc. (NASDAQ:INTU)

Sustainable Insight Capital Management LLC acquired a new position in shares of Intuit Inc. (NASDAQ:INTU) in the third quarter, Holdings Channel reports. The firm acquired 474 shares of the software maker’s stock, valued at approximately $294,000.

Other institutional investors also recently added to or reduced their stakes in the company. Atomi Financial Group Inc. boosted its position in shares of Intuit by 16.8% in the 1st quarter. Atomi Financial Group Inc. now owns 1,651 shares of the software maker’s stock worth $1,073,000 after purchasing an additional 238 shares in the last quarter. Concurrent Investment Advisors LLC grew its stake in shares of Intuit by 43.7% during the first quarter. Concurrent Investment Advisors LLC now owns 5,744 shares of the software maker’s stock worth $3,733,000 after acquiring an additional 1,747 shares during the last quarter. Stonebrook Private Inc. increased its holdings in shares of Intuit by 4.5% during the first quarter. Stonebrook Private Inc. now owns 398 shares of the software maker’s stock valued at $259,000 after acquiring an additional 17 shares in the last quarter. Choate Investment Advisors raised its position in shares of Intuit by 3.1% in the 1st quarter. Choate Investment Advisors now owns 2,272 shares of the software maker’s stock valued at $1,477,000 after purchasing an additional 69 shares during the last quarter. Finally, NorthRock Partners LLC boosted its stake in Intuit by 3.2% in the 1st quarter. NorthRock Partners LLC now owns 1,440 shares of the software maker’s stock worth $936,000 after purchasing an additional 45 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

NASDAQ INTU opened at $684.22 on Friday. The stock has a fifty day simple moving average of $625.54 and a 200-day simple moving average of $627.81. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The stock has a market cap of $191.78 billion, a PE ratio of 65.48, a P/E/G ratio of 3.17 and a beta of 1.25. Intuit Inc. has a twelve month low of $513.97 and a twelve month high of $688.88.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The business had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same period last year, the business earned $0.40 earnings per share. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. Equities analysts anticipate that Intuit Inc. will post 14.04 earnings per share for the current year.

Intuit Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.61%. This is a boost from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, October 10th. Intuit’s dividend payout ratio is 39.81%.

Insider Activity

In related news, CFO Sandeep Aujla sold 775 shares of the stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total transaction of $466,015.25. Following the transaction, the chief financial officer now owns 4,451 shares of the company’s stock, valued at approximately $2,676,430.81. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Intuit news, EVP Laura A. Fennell sold 30,159 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $642.36, for a total value of $19,372,935.24. Following the completion of the transaction, the executive vice president now owns 52,038 shares of the company’s stock, valued at $33,427,129.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Sandeep Aujla sold 775 shares of the company’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total value of $466,015.25. Following the sale, the chief financial officer now directly owns 4,451 shares in the company, valued at $2,676,430.81. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,297 shares of company stock valued at $35,220,046. 2.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on INTU. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a research note on Monday, September 30th. Morgan Stanley downgraded Intuit from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $750.00 to $685.00 in a research report on Wednesday, August 14th. 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. Susquehanna reissued a “positive” rating and issued a $757.00 price objective on shares of Intuit in a report on Friday, August 16th. Finally, JPMorgan Chase & Co. lifted their target price on Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Four 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 an average target price of $735.71.

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.