Intuit Inc. (NASDAQ:INTU) Shares Purchased by Pittenger & Anderson Inc.

Pittenger & Anderson Inc. lifted its stake in Intuit Inc. (NASDAQ:INTUGet Rating) by 52.0% in the 2nd quarter, Holdings Channel reports. The firm owned 1,303 shares of the software maker’s stock after purchasing an additional 446 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Intuit were worth $502,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Segall Bryant & Hamill LLC raised its position in Intuit by 0.7% during the fourth quarter. Segall Bryant & Hamill LLC now owns 2,601 shares of the software maker’s stock worth $1,672,000 after acquiring an additional 19 shares during the last quarter. Contravisory Investment Management Inc. grew its holdings in shares of Intuit by 3.4% during the first quarter. Contravisory Investment Management Inc. now owns 704 shares of the software maker’s stock worth $339,000 after buying an additional 23 shares in the last quarter. Cooper Financial Group grew its holdings in Intuit by 4.9% in the first quarter. Cooper Financial Group now owns 511 shares of the software maker’s stock valued at $246,000 after purchasing an additional 24 shares during the period. BlueSky Wealth Advisors LLC grew its holdings in Intuit by 3.2% in the first quarter. BlueSky Wealth Advisors LLC now owns 779 shares of the software maker’s stock valued at $375,000 after purchasing an additional 24 shares during the period. Finally, JFS Wealth Advisors LLC grew its holdings in Intuit by 1.7% in the first quarter. JFS Wealth Advisors LLC now owns 1,532 shares of the software maker’s stock valued at $737,000 after purchasing an additional 25 shares during the period. Institutional investors and hedge funds own 83.31% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on INTU shares. Moffett Nathanson began coverage on shares of Intuit in a research note on Thursday. They set an “outperform” rating and a $500.00 price objective for the company. Evercore ISI increased their target price on shares of Intuit from $500.00 to $601.00 and gave the stock an “outperform” rating in a report on Wednesday, August 24th. Oppenheimer increased their target price on shares of Intuit from $476.00 to $516.00 and gave the stock an “outperform” rating in a report on Wednesday, August 24th. CICC Research assumed coverage on shares of Intuit in a research report on Monday. They set a “market perform” rating for the company. Finally, Barclays upped their price target on shares of Intuit from $580.00 to $585.00 and gave the company an “overweight” rating in a report on Wednesday, August 24th. Two analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat.com, Intuit has a consensus rating of “Moderate Buy” and an average target price of $566.89.

Intuit Price Performance

Intuit stock opened at $396.71 on Friday. The company has a market capitalization of $111.82 billion, a PE ratio of 54.72, a P/E/G ratio of 2.81 and a beta of 1.19. The stock has a 50-day moving average price of $442.39 and a two-hundred day moving average price of $429.18. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.39. Intuit Inc. has a 12 month low of $339.36 and a 12 month high of $716.86.

Intuit (NASDAQ:INTUGet Rating) last released its earnings results on Tuesday, August 23rd. The software maker reported $1.10 EPS for the quarter, topping the consensus estimate of $0.98 by $0.12. Intuit had a return on equity of 16.47% and a net margin of 16.23%. During the same quarter in the previous year, the company earned $1.28 earnings per share. Analysts expect that Intuit Inc. will post 9.1 EPS for the current year.

Intuit Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 18th. Stockholders of record on Monday, October 10th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend is Thursday, October 6th. This is a positive change from Intuit’s previous quarterly dividend of $0.68. Intuit’s dividend payout ratio (DPR) is currently 37.52%.

Insider Activity

In related news, CEO Sasan K. Goodarzi sold 22,250 shares of Intuit stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $463.21, for a total transaction of $10,306,422.50. Following the sale, the chief executive officer now directly owns 60,208 shares in the company, valued at $27,888,947.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Sasan K. Goodarzi sold 22,250 shares of Intuit stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $463.21, for a total value of $10,306,422.50. Following the completion of the transaction, the chief executive officer now directly owns 60,208 shares in the company, valued at $27,888,947.68. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Varun Krishna sold 7,438 shares of the business’s stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $450.80, for a total value of $3,353,050.40. The disclosure for this sale can be found here. Insiders have sold 39,318 shares of company stock worth $18,027,628 over the last 90 days. 3.27% of the stock is currently owned by corporate insiders.

Intuit Company Profile

(Get Rating)

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 ProConnect.

Further Reading

Want to see what other hedge funds are holding INTU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intuit Inc. (NASDAQ:INTUGet Rating).

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.