Axxcess Wealth Management LLC Sells 1,264 Shares of Intuit Inc. (NASDAQ:INTU)

Axxcess Wealth Management LLC lowered its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 14.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 7,462 shares of the software maker's stock after selling 1,264 shares during the period. Axxcess Wealth Management LLC's holdings in Intuit were worth $4,581,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pinnacle Financial Partners Inc lifted its position in Intuit by 3.6% in the first quarter. Pinnacle Financial Partners Inc now owns 17,789 shares of the software maker's stock worth $10,922,000 after purchasing an additional 623 shares during the period. Capitolis Liquid Global Markets LLC bought a new stake in Intuit in the 4th quarter valued at $109,988,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Intuit in the fourth quarter valued at about $237,244,000. Baer Investment Advisory LLC acquired a new stake in shares of Intuit during the fourth quarter valued at about $3,261,000. Finally, Trinity Street Asset Management LLP bought a new stake in Intuit in the first quarter worth approximately $12,061,000. Institutional investors own 83.66% of the company's stock.

Analyst Upgrades and Downgrades

INTU has been the topic of several analyst reports. Jefferies Financial Group set a $850.00 target price on Intuit and gave the company a "buy" rating in a research report on Friday, May 23rd. Stifel Nicolaus increased their target price on Intuit from $725.00 to $850.00 and gave the company a "buy" rating in a report on Friday, May 23rd. CLSA initiated coverage on Intuit in a research report on Thursday, June 26th. They issued an "outperform" rating and a $900.00 target price for the company. JPMorgan Chase & Co. lifted their target price on Intuit from $660.00 to $770.00 and gave the stock an "overweight" rating in a report on Friday, May 23rd. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $850.00 price target (up from $760.00) on shares of Intuit in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $800.55.

Intuit Price Performance

INTU stock traded up $1.58 during mid-day trading on Friday, hitting $749.48. The company had a trading volume of 465,063 shares, compared to its average volume of 1,617,486. The company has a market capitalization of $209.06 billion, a price-to-earnings ratio of 60.84, a P/E/G ratio of 3.42 and a beta of 1.27. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $790.60. The company has a 50-day moving average price of $730.71 and a 200 day moving average price of $645.99. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29.

Intuit (NASDAQ:INTU - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, beating analysts' consensus estimates of $10.89 by $0.76. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The business had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.56 billion. During the same period last year, the business earned $9.88 earnings per share. The business's revenue for the quarter was up 15.1% on a year-over-year basis. On average, research analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be issued a $1.04 dividend. The ex-dividend date is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.56%. Intuit's dividend payout ratio is 33.77%.

Insider Transactions at Intuit

In other news, CFO Sandeep Aujla sold 16,061 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $726.13, for a total value of $11,662,373.93. Following the sale, the chief financial officer owned 197 shares in the company, valued at approximately $143,047.61. This trade represents a 98.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Laura A. Fennell sold 25,648 shares of the business's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $752.25, for a total transaction of $19,293,708.00. Following the completion of the sale, the executive vice president owned 22,796 shares in the company, valued at $17,148,291. This represents a 52.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 279,800 shares of company stock valued at $209,725,054 in the last ninety days. 2.68% of the stock is currently owned by insiders.

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.