Intuit Inc. (NASDAQ:INTU) Stock Position Lifted by Planning Capital Management Corp

Planning Capital Management Corp lifted its holdings in Intuit Inc. (NASDAQ:INTU) by 67.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,691 shares of the software maker’s stock after purchasing an additional 684 shares during the quarter. Planning Capital Management Corp’s holdings in Intuit were worth $1,050,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Zions Bancorporation N.A. boosted its stake in Intuit by 3.0% during the third quarter. Zions Bancorporation N.A. now owns 5,761 shares of the software maker’s stock valued at $3,578,000 after buying an additional 170 shares in the last quarter. KBC Group NV boosted its stake in Intuit by 6.1% during the third quarter. KBC Group NV now owns 189,903 shares of the software maker’s stock valued at $117,930,000 after buying an additional 10,851 shares in the last quarter. Huntington National Bank boosted its stake in Intuit by 0.9% during the third quarter. Huntington National Bank now owns 17,813 shares of the software maker’s stock valued at $11,062,000 after buying an additional 165 shares in the last quarter. Bouvel Investment Partners LLC lifted its holdings in shares of Intuit by 0.5% during the third quarter. Bouvel Investment Partners LLC now owns 9,683 shares of the software maker’s stock valued at $6,013,000 after purchasing an additional 49 shares during the last quarter. Finally, ROI Financial Advisors LLC lifted its holdings in shares of Intuit by 8.4% during the third quarter. ROI Financial Advisors LLC now owns 2,699 shares of the software maker’s stock valued at $1,676,000 after purchasing an additional 208 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Up 1.0 %

INTU opened at $706.25 on Thursday. Intuit Inc. has a fifty-two week low of $541.40 and a fifty-two week high of $714.78. The business has a 50-day moving average of $630.03 and a 200-day moving average of $629.21. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The company has a market capitalization of $197.95 billion, a PE ratio of 67.58, a price-to-earnings-growth ratio of 3.42 and a beta of 1.25.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The business’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period last year, the business earned $0.40 EPS. Equities research analysts forecast that Intuit Inc. will post 14.04 EPS for the current fiscal year.

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were issued a dividend of $1.04 per share. This is a positive change from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.59%. Intuit’s dividend payout ratio is currently 39.81%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on INTU shares. Morgan Stanley downgraded Intuit from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $750.00 to $685.00 in a report on Wednesday, August 14th. Jefferies Financial Group upped their target price on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Barclays reduced their target price on Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a report on Friday, August 23rd. Stifel Nicolaus upped their target price on Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Finally, Bank of America increased their price objective on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $735.71.

Insider Activity

In other news, CFO Sandeep Aujla sold 862 shares of the 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 transaction, the chief financial officer now owns 3,840 shares of the company’s stock, valued at approximately $2,384,755.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Intuit news, EVP Laura A. Fennell sold 30,159 shares of Intuit stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $642.36, for a total value of $19,372,935.24. Following the transaction, the executive vice president now directly owns 52,038 shares of the company’s stock, valued at $33,427,129.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Sandeep Aujla sold 862 shares of Intuit 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 directly owns 3,840 shares in the company, valued at approximately $2,384,755.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,297 shares of company stock valued at $35,220,046. 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.