Archford Capital Strategies LLC Buys 24 Shares of Intuit Inc. (NASDAQ:INTU)

Archford Capital Strategies LLC lifted its position in Intuit Inc. (NASDAQ:INTU) by 0.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 4,079 shares of the software maker’s stock after acquiring an additional 24 shares during the period. Archford Capital Strategies LLC’s holdings in Intuit were worth $2,564,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Precedent Wealth Partners LLC raised its stake in Intuit by 10.4% in the fourth quarter. Precedent Wealth Partners LLC now owns 963 shares of the software maker’s stock valued at $605,000 after buying an additional 91 shares during the period. AlphaMark Advisors LLC boosted its position in Intuit by 6,500.0% during the fourth quarter. AlphaMark Advisors LLC now owns 66 shares of the software maker’s stock worth $41,000 after purchasing an additional 65 shares during the period. Flagship Harbor Advisors LLC increased its holdings in shares of Intuit by 3.8% in the fourth quarter. Flagship Harbor Advisors LLC now owns 2,007 shares of the software maker’s stock valued at $1,261,000 after purchasing an additional 73 shares during the last quarter. Grimes & Company Inc. increased its holdings in shares of Intuit by 7.0% in the fourth quarter. Grimes & Company Inc. now owns 366 shares of the software maker’s stock valued at $230,000 after purchasing an additional 24 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC raised its position in shares of Intuit by 6.1% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 7,362 shares of the software maker’s stock valued at $4,627,000 after purchasing an additional 426 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

INTU has been the topic of a number of research reports. Barclays decreased their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Scotiabank assumed coverage on Intuit in a research report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 target price on the stock. Jefferies Financial Group upped their price objective on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. boosted their target price on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $726.53.

Insider Transactions at Intuit

In other Intuit news, CFO Sandeep Aujla sold 109 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $628.50, for a total value of $68,506.50. Following the sale, the chief financial officer now owns 1,944 shares in the company, valued at approximately $1,221,804. The trade was a 5.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $641.82, for a total value of $48,136,500.00. Following the transaction, the insider now owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. This trade represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 293,014 shares of company stock worth $188,992,187. Insiders own 2.68% of the company’s stock.

Intuit Price Performance

INTU stock opened at $597.95 on Friday. The stock has a market cap of $167.38 billion, a price-to-earnings ratio of 58.05, a P/E/G ratio of 3.01 and a beta of 1.25. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The company has a 50 day simple moving average of $636.69 and a 200 day simple moving average of $635.10. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same period in the prior year, the business earned $1.14 earnings per share. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. Research analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date was Friday, January 10th. Intuit’s payout ratio is 40.39%.

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.