Cambridge Investment Research Advisors Inc. Has $10.10 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Cambridge Investment Research Advisors Inc. lessened its position in Intuit Inc. (NASDAQ:INTUFree Report) by 42.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,153 shares of the software maker’s stock after selling 11,793 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Intuit were worth $10,096,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of INTU. Desjardins Global Asset Management Inc. raised its holdings in Intuit by 1.4% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 1,181 shares of the software maker’s stock valued at $738,000 after acquiring an additional 16 shares in the last quarter. JFS Wealth Advisors LLC raised its holdings in shares of Intuit by 1.0% during the 4th quarter. JFS Wealth Advisors LLC now owns 1,564 shares of the software maker’s stock worth $978,000 after buying an additional 16 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Intuit by 3.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 449 shares of the software maker’s stock worth $281,000 after buying an additional 16 shares in the last quarter. GAM Holding AG raised its holdings in shares of Intuit by 0.3% during the 4th quarter. GAM Holding AG now owns 5,873 shares of the software maker’s stock worth $3,671,000 after buying an additional 17 shares in the last quarter. Finally, Janiczek Wealth Management LLC raised its holdings in shares of Intuit by 2.4% during the 4th quarter. Janiczek Wealth Management LLC now owns 716 shares of the software maker’s stock worth $448,000 after buying an additional 17 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on INTU shares. Susquehanna lowered their price target on Intuit from $775.00 to $757.00 and set a “positive” rating for the company in a report on Friday. UBS Group boosted their price target on Intuit from $625.00 to $670.00 and gave the stock a “neutral” rating in a report on Monday, May 20th. KeyCorp boosted their price target on Intuit from $720.00 to $740.00 and gave the stock an “overweight” rating in a report on Monday, May 20th. Bank of America lowered their target price on Intuit from $760.00 to $730.00 and set a “buy” rating for the company in a report on Friday. Finally, Jefferies Financial Group upped their target price on Intuit from $760.00 to $770.00 and gave the stock a “buy” rating in a report on Friday. Five equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $679.41.

View Our Latest Report on INTU

Insider Activity at Intuit

In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the transaction, the executive vice president now owns 22,948 shares in the company, valued at $15,233,800.32. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Intuit news, EVP Alex G. Balazs sold 280 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the completion of the transaction, the executive vice president now owns 22,948 shares in the company, valued at approximately $15,233,800.32. The disclosure for this sale can be found here. 2.90% of the stock is owned by corporate insiders.

Intuit Stock Down 8.3 %

Shares of Intuit stock opened at $606.99 on Monday. Intuit Inc. has a one year low of $400.22 and a one year high of $676.62. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.50 and a quick ratio of 1.50. The stock’s 50-day moving average is $634.59 and its 200 day moving average is $622.12. The firm has a market cap of $169.68 billion, a price-to-earnings ratio of 56.00, a PEG ratio of 3.70 and a beta of 1.22.

Intuit (NASDAQ:INTUGet Free Report) last announced its earnings results on Thursday, May 23rd. The software maker reported $8.63 EPS for the quarter, beating the consensus estimate of $8.12 by $0.51. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The company had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.65 billion. During the same quarter in the prior year, the company earned $7.80 EPS. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. Equities research analysts anticipate that Intuit Inc. will post 11.28 EPS for the current year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Wednesday, July 10th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $3.60 annualized dividend and a dividend yield of 0.59%. Intuit’s payout ratio is 33.21%.

Intuit Company Profile

(Free Report)

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.

Read More

Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

Receive News & Ratings for Intuit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intuit and related companies with MarketBeat.com's FREE daily email newsletter.