Chicago Capital LLC Buys 1,608 Shares of Intuit Inc. (NASDAQ:INTU)

Chicago Capital LLC lifted its stake in Intuit Inc. (NASDAQ:INTU) by 1.1% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 141,599 shares of the software maker’s stock after acquiring an additional 1,608 shares during the quarter. Intuit comprises approximately 2.8% of Chicago Capital LLC’s portfolio, making the stock its 8th largest position. Chicago Capital LLC’s holdings in Intuit were worth $93,060,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of INTU. Vanguard Group Inc. lifted its stake in shares of Intuit by 1.1% in the first quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock worth $16,937,502,000 after acquiring an additional 283,291 shares in the last quarter. Wellington Management Group LLP boosted its stake 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 buying an additional 2,336,654 shares during the last quarter. Brown Advisory Inc. grew its position in shares of Intuit by 2.3% during the fourth quarter. Brown Advisory Inc. now owns 3,548,119 shares of the software maker’s stock worth $2,217,681,000 after buying an additional 80,517 shares in the last quarter. Norges Bank bought a new stake in shares of Intuit in the fourth quarter worth $2,101,848,000. Finally, Fisher Asset Management LLC increased its stake in shares of Intuit by 9.5% in the fourth quarter. Fisher Asset Management LLC now owns 3,114,975 shares of the software maker’s stock worth $1,946,954,000 after buying an additional 270,432 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Stock Performance

Shares of INTU traded down $6.36 during mid-day trading on Friday, reaching $615.12. 999,734 shares of the company’s stock traded hands, compared to its average volume of 1,330,498. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.50 and a current ratio of 1.29. The business’s 50-day moving average price is $638.42 and its 200-day moving average price is $632.43. The stock has a market capitalization of $171.95 billion, a P/E ratio of 56.75, a price-to-earnings-growth ratio of 3.08 and a beta of 1.23. Intuit Inc. has a 12 month low of $473.56 and a 12 month high of $676.62.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The firm had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the previous year, the business earned $0.40 EPS. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. Equities analysts predict that Intuit Inc. will post 14.06 earnings per share for the current year.

Intuit Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Thursday, October 10th. This is a positive change from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio is currently 38.38%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on INTU shares. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a report on Saturday, August 31st. BMO Capital Markets boosted their price objective on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Royal Bank of Canada assumed coverage on Intuit in a report on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 target price on the stock. Erste Group Bank reissued a “hold” rating on shares of Intuit in a research report on Friday, June 14th. Finally, KeyCorp boosted their target price on shares of Intuit from $720.00 to $740.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, Intuit has a consensus rating of “Moderate Buy” and a consensus price target of $720.37.

Insider Activity at Intuit

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $567.75, for a total transaction of $42,581,250.00. Following the sale, the insider now directly owns 6,626,721 shares in the company, valued at approximately $3,762,320,847.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $567.75, for a total transaction of $42,581,250.00. Following the completion of the transaction, the insider now owns 6,626,721 shares of the company’s stock, valued at $3,762,320,847.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Sandeep Aujla sold 862 shares of the business’s stock in a transaction dated 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 owns 3,840 shares in the company, valued at $2,384,755.20. The disclosure for this sale can be found here. Insiders sold 116,308 shares of company stock worth $67,651,926 in the last 90 days. Corporate insiders own 2.90% of the company’s stock.

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.