Raub Brock Capital Management LP Has $17.66 Million Holdings in Intuit Inc. (NASDAQ:INTU)

Raub Brock Capital Management LP reduced its position in Intuit Inc. (NASDAQ:INTU) by 4.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,769 shares of the software maker’s stock after selling 1,494 shares during the quarter. Intuit comprises about 3.9% of Raub Brock Capital Management LP’s holdings, making the stock its 10th biggest holding. Raub Brock Capital Management LP’s holdings in Intuit were worth $17,664,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of INTU. Copia Wealth Management bought a new stake in Intuit during the fourth quarter valued at approximately $25,000. NewSquare Capital LLC lifted its position in Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after purchasing an additional 18 shares during the last quarter. Summit Securities Group LLC bought a new stake in Intuit during the fourth quarter valued at approximately $28,000. Heck Capital Advisors LLC bought a new stake in Intuit during the fourth quarter valued at approximately $28,000. Finally, VSM Wealth Advisory LLC bought a new stake in Intuit during the fourth quarter valued at approximately $35,000. 83.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $850.00 target price (up from $760.00) on shares of Intuit in a research report on Friday, May 23rd. Barclays reiterated an “overweight” rating and set a $815.00 price objective (up from $775.00) on shares of Intuit in a research report on Friday, May 23rd. Wells Fargo & Company increased their price objective on Intuit from $825.00 to $880.00 and gave the company an “overweight” rating in a research report on Friday. Susquehanna reiterated a “positive” rating on shares of Intuit in a research report on Friday, May 23rd. Finally, Citigroup restated a “buy” rating and issued a $789.00 price objective (up from $726.00) on shares of Intuit in a report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $787.95.

Intuit Trading Down 1.6%

NASDAQ:INTU opened at $753.98 on Friday. The company has a fifty day moving average of $664.85 and a 200 day moving average of $630.29. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $773.45. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $210.32 billion, a P/E ratio of 73.20, a P/E/G ratio of 2.85 and a beta of 1.28.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.89 by $0.76. The business had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $9.88 EPS. On average, research analysts predict that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 10th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date is Thursday, July 10th. Intuit’s payout ratio is currently 33.77%.

Insider Buying and Selling at Intuit

In other news, CFO Sandeep Aujla sold 16,061 shares of the company’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $726.13, for a total value of $11,662,373.93. Following the sale, the chief financial officer now directly owns 197 shares of the company’s stock, valued at $143,047.61. This represents a 98.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott D. Cook sold 62,816 shares of the company’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $765.99, for a total transaction of $48,116,427.84. Following the completion of the sale, the insider now directly owns 6,000,679 shares in the company, valued at $4,596,460,107.21. This represents a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 288,408 shares of company stock valued at $213,441,865. 2.68% of the stock is currently owned by company insiders.

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.