Campbell Capital Management Inc. Sells 1,900 Shares of Intuit Inc. (NASDAQ:INTU)

Key Points

• Campbell Capital Management Inc. reduced its stake in Intuit Inc. by 19.5% in the first quarter, now holding 7,831 shares valued at $4.81 million.
• Insider trading reports reveal significant sales, including EVP Mark P. Notarainni selling 1,147 shares for $887,663 and CFO Sandeep Aujla selling 2,591 shares for $2.03 million.
• Intuit reported a strong quarterly earnings performance with $11.65 EPS, surpassing estimates, and a 15.1% year-over-year revenue increase.

Campbell Capital Management Inc. reduced its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 19.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,831 shares of the software maker's stock after selling 1,900 shares during the quarter. Intuit accounts for about 2.8% of Campbell Capital Management Inc.'s holdings, making the stock its 13th biggest holding. Campbell Capital Management Inc.'s holdings in Intuit were worth $4,808,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Copia Wealth Management bought a new position in Intuit in the 4th quarter valued at approximately $25,000. Heck Capital Advisors LLC acquired a new stake in Intuit in the fourth quarter worth $28,000. Olde Wealth Management LLC bought a new stake in Intuit in the first quarter valued at $37,000. Atlantic Edge Private Wealth Management LLC raised its holdings in shares of Intuit by 523.1% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 81 shares of the software maker's stock valued at $50,000 after purchasing an additional 68 shares during the period. Finally, Hughes Financial Services LLC bought a new position in shares of Intuit during the 1st quarter worth about $50,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Stock Down 1.7%

NASDAQ:INTU traded down $12.61 on Friday, hitting $749.00. The stock had a trading volume of 1,670,219 shares, compared to its average volume of 1,423,083. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $813.70. The firm's fifty day simple moving average is $769.33 and its two-hundred day simple moving average is $666.28. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45. The stock has a market cap of $208.93 billion, a P/E ratio of 60.80, a price-to-earnings-growth ratio of 2.93 and a beta of 1.28.

Intuit (NASDAQ:INTU - Get Free Report) last released its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.89 by $0.76. The company had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.56 billion. Intuit had a return on equity of 21.46% and a net margin of 19.07%. Intuit's quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the company posted $9.88 earnings per share. Analysts predict that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 10th were issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, July 10th. Intuit's payout ratio is 33.77%.

Insider Activity at Intuit

In related news, EVP Laura A. Fennell sold 25,648 shares of the firm's stock in a transaction dated 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 approximately $17,148,291. This trade represents a 52.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Kerry J. Mclean sold 16,700 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $729.16, for a total transaction of $12,176,972.00. Following the completion of the transaction, the executive vice president owned 23,101 shares in the company, valued at approximately $16,844,325.16. The trade was a 41.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 279,800 shares of company stock valued at $209,725,054 in the last 90 days. 2.68% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently commented on the company. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $850.00 target price (up from $760.00) on shares of Intuit in a research report on Friday, May 23rd. Wells Fargo & Company set a $880.00 price objective on Intuit and gave the company an "overweight" rating in a report on Friday, June 13th. Jefferies Financial Group set a $850.00 target price on Intuit and gave the stock a "buy" rating in a research report on Friday, May 23rd. Scotiabank upgraded Intuit from a "sector perform" rating to a "sector outperform" rating and increased their target price for the stock from $600.00 to $700.00 in a report on Thursday, April 17th. Finally, Piper Sandler restated an "overweight" rating and set a $825.00 price objective (up previously from $785.00) on shares of Intuit in a report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Intuit currently has an average rating of "Moderate Buy" and an average target price of $806.27.

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.