Bokf Na Has $11.80 Million Stake in Intuit Inc. (NASDAQ:INTU)

Bokf Na decreased its position in shares of Intuit Inc. (NASDAQ:INTU) by 12.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,959 shares of the software maker’s stock after selling 2,580 shares during the quarter. Bokf Na’s holdings in Intuit were worth $11,803,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Intech Investment Management LLC boosted its holdings in shares of Intuit by 134.7% during the 1st quarter. Intech Investment Management LLC now owns 4,601 shares of the software maker’s stock valued at $2,991,000 after acquiring an additional 2,641 shares in the last quarter. Parnassus Investments LLC boosted its holdings in shares of Intuit by 119.0% during the 4th quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock valued at $836,377,000 after acquiring an additional 727,185 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of Intuit by 1.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 179,801 shares of the software maker’s stock valued at $112,381,000 after acquiring an additional 1,990 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Intuit by 173.0% during the 4th quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock valued at $2,304,850,000 after acquiring an additional 2,336,654 shares in the last quarter. Finally, Cetera Advisors LLC boosted its holdings in shares of Intuit by 33.4% during the 1st quarter. Cetera Advisors LLC now owns 10,607 shares of the software maker’s stock valued at $6,895,000 after acquiring an additional 2,655 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insiders Place Their Bets

In other Intuit news, CFO Sandeep Aujla sold 862 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $2,384,755.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Intuit news, EVP Mark P. Notarainni sold 965 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 1,020 shares of the company’s stock, valued at approximately $664,020. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sandeep Aujla sold 862 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the completion of the transaction, the chief financial officer now owns 3,840 shares in the company, valued at approximately $2,384,755.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,940 shares of company stock valued at $10,721,252. Corporate insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on INTU. UBS Group raised their price objective on Intuit from $625.00 to $670.00 and gave the company a “neutral” rating in a report on Monday, May 20th. Wells Fargo & Company lifted their target price on Intuit from $725.00 to $750.00 and gave the stock an “overweight” rating in a report on Tuesday, May 21st. Bank of America lifted their target price on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. JPMorgan Chase & Co. lifted their target price on Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Finally, Royal Bank of Canada began coverage on Intuit in a report on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Intuit has an average rating of “Moderate Buy” and a consensus price target of $720.37.

Intuit Stock Performance

Shares of Intuit stock opened at $643.92 on Thursday. Intuit Inc. has a one year low of $473.56 and a one year high of $676.62. The firm has a market capitalization of $180.01 billion, a price-to-earnings ratio of 59.40, a PEG ratio of 3.00 and a beta of 1.24. The business has a 50-day simple moving average of $637.17 and a 200 day simple moving average of $631.98. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The business had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same period in the previous year, the company posted $0.40 EPS. The firm’s revenue was up 17.4% compared to the same quarter last year. On average, research analysts anticipate that Intuit Inc. will post 14.06 earnings per share for the current fiscal year.

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be issued a dividend of $1.04 per share. This is a positive change from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Thursday, October 10th. Intuit’s payout ratio is currently 38.38%.

Intuit 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.