Profund Advisors LLC Increases Stock Position in Intuit Inc. (NASDAQ:INTU)

Profund Advisors LLC raised its stake in shares of Intuit Inc. (NASDAQ:INTU) by 0.2% in the second quarter, Holdings Channel.com reports. The fund owned 26,106 shares of the software maker’s stock after purchasing an additional 52 shares during the period. Intuit makes up approximately 0.6% of Profund Advisors LLC’s investment portfolio, making the stock its 27th biggest position. Profund Advisors LLC’s holdings in Intuit were worth $17,157,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in INTU. Aveo Capital Partners LLC acquired a new position in Intuit in the fourth quarter valued at $203,000. 9258 Wealth Management LLC increased its holdings in 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 in the last quarter. Gryphon Financial Partners LLC raised its stake in shares of Intuit by 31.6% during the 4th quarter. Gryphon Financial Partners LLC now owns 1,635 shares of the software maker’s stock worth $1,022,000 after buying an additional 393 shares during the last quarter. SageView Advisory Group LLC grew its position in shares of Intuit by 143.1% in the fourth quarter. SageView Advisory Group LLC now owns 1,184 shares of the software maker’s stock valued at $767,000 after purchasing an additional 697 shares during the last quarter. Finally, HCR Wealth Advisors purchased a new position in Intuit during the fourth quarter worth $379,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other news, CFO Sandeep Aujla sold 862 shares of Intuit 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 directly owns 3,840 shares in the company, valued at approximately $2,384,755.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Sandeep Aujla sold 862 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total transaction of $535,327.86. Following the transaction, the chief financial officer now owns 3,840 shares in the company, valued at approximately $2,384,755.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark P. Notarainni sold 965 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $651.00, for a total transaction of $628,215.00. Following the transaction, the executive vice president now directly owns 1,020 shares in the company, valued at $664,020. The disclosure for this sale can be found here. Insiders have sold 22,389 shares of company stock worth $14,231,188 over the last 90 days. 2.90% of the stock is currently owned by corporate insiders.

Intuit Price Performance

Shares of INTU opened at $644.99 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The company has a market capitalization of $180.31 billion, a price-to-earnings ratio of 59.50, a P/E/G ratio of 3.14 and a beta of 1.24. The business’s 50-day moving average is $636.82 and its 200-day moving average is $631.24. Intuit Inc. has a fifty-two week low of $473.56 and a fifty-two week high of $676.62.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating the consensus estimate 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 net margin of 18.19% and a return on equity of 18.64%. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.40 EPS. Equities research analysts expect that Intuit Inc. will post 14.06 EPS for the current fiscal year.

Intuit Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be given a dividend of $1.04 per share. This is a boost from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.64%. Intuit’s dividend payout ratio (DPR) is presently 38.38%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on INTU. Susquehanna reissued a “positive” rating and set a $757.00 price target on shares of Intuit in a research note on Friday, August 16th. JPMorgan Chase & Co. increased their price objective on shares of Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Bank of America boosted their price target on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Jefferies Financial Group raised their price objective on shares of Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $720.37.

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.