Intuit Inc. (NASDAQ:INTU) Shares Sold by Logan Capital Management Inc.

Logan Capital Management Inc. lessened its holdings in shares of Intuit Inc. (NASDAQ:INTUGet Rating) by 0.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,614 shares of the software maker’s stock after selling 106 shares during the period. Logan Capital Management Inc.’s holdings in Intuit were worth $6,066,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. BlackRock Inc. grew its holdings in Intuit by 3.7% during the first quarter. BlackRock Inc. now owns 26,048,746 shares of the software maker’s stock worth $12,525,279,000 after acquiring an additional 919,626 shares during the period. Vanguard Group Inc. grew its holdings in Intuit by 6.4% during the first quarter. Vanguard Group Inc. now owns 24,068,193 shares of the software maker’s stock worth $11,572,950,000 after acquiring an additional 1,446,489 shares during the period. State Street Corp grew its holdings in Intuit by 6.0% during the fourth quarter. State Street Corp now owns 11,529,236 shares of the software maker’s stock worth $7,415,835,000 after acquiring an additional 652,399 shares during the period. Geode Capital Management LLC grew its holdings in Intuit by 7.3% during the fourth quarter. Geode Capital Management LLC now owns 4,922,658 shares of the software maker’s stock worth $3,158,032,000 after acquiring an additional 336,690 shares during the period. Finally, Brown Advisory Inc. grew its holdings in Intuit by 2.8% during the first quarter. Brown Advisory Inc. now owns 3,823,715 shares of the software maker’s stock worth $1,962,730,000 after acquiring an additional 103,642 shares during the period. Institutional investors and hedge funds own 83.31% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on INTU. Citigroup began coverage on Intuit in a report on Thursday, September 1st. They set a “buy” rating and a $538.00 price objective on the stock. KeyCorp boosted their target price on Intuit from $475.00 to $525.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 24th. Stifel Nicolaus boosted their target price on Intuit from $465.00 to $525.00 and gave the stock a “buy” rating in a research report on Thursday, August 18th. Evercore ISI boosted their target price on Intuit from $500.00 to $601.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 24th. Finally, Wells Fargo & Company decreased their target price on Intuit from $635.00 to $550.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 25th. One equities research analyst has rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and a consensus target price of $570.61.

Intuit Stock Up 2.5 %

Shares of NASDAQ:INTU opened at $450.03 on Friday. The company has a quick ratio of 1.63, a current ratio of 1.39 and a debt-to-equity ratio of 0.39. Intuit Inc. has a 52-week low of $339.36 and a 52-week high of $716.86. The stock’s fifty day simple moving average is $437.37 and its 200-day simple moving average is $432.01. The company has a market capitalization of $126.85 billion, a P/E ratio of 62.07, a P/E/G ratio of 3.17 and a beta of 1.19.

Intuit (NASDAQ:INTUGet Rating) last issued its quarterly earnings data on Tuesday, August 23rd. The software maker reported $1.10 earnings per share (EPS) for the quarter, beating 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 period in the prior year, the company earned $1.28 EPS. As a group, equities research analysts forecast that Intuit Inc. will post 9.1 earnings per share for the current fiscal year.

Intuit Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 18th. Investors of record on Monday, October 10th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Thursday, October 6th. This is an increase from Intuit’s previous quarterly dividend of $0.68. This represents a $3.12 annualized dividend and a yield of 0.69%. Intuit’s dividend payout ratio is 37.52%.

Insider Buying and Selling

In related news, CEO Sasan K. Goodarzi sold 22,250 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 60,208 shares in the company, valued at $27,888,947.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Intuit news, CFO Michelle M. Clatterbuck sold 1,791 shares of the company’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $462.12, for a total transaction of $827,656.92. Following the completion of the sale, the chief financial officer now directly owns 1,350 shares in the company, valued at $623,862. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sasan K. Goodarzi sold 22,250 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 60,208 shares of the company’s stock, valued at $27,888,947.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,902 shares of company stock worth $16,251,640. 3.27% of the stock is owned by company insiders.

Intuit Company Profile

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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.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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