Cobblestone Capital Advisors LLC NY Takes Position in Intuit Inc. (NASDAQ:INTU)

Key Points

• Cobblestone Capital Advisors LLC NY has taken a new position in Intuit Inc., purchasing 771 shares valued at approximately $473,000 during the first quarter.
• Intuit's recent earnings report indicated a quarterly EPS of $11.65, exceeding analyst estimates of $10.89, along with a 15.1% year-over-year revenue growth.
• Analysts have raised price targets for Intuit, with estimates reaching as high as $900.00, and a consensus rating of "Moderate Buy" among analysts.

Cobblestone Capital Advisors LLC NY purchased a new stake in Intuit Inc. (NASDAQ:INTU - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 771 shares of the software maker's stock, valued at approximately $473,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in INTU. Copia Wealth Management purchased a new stake in shares of Intuit in the 4th quarter valued at about $25,000. Heck Capital Advisors LLC purchased a new stake in Intuit during the 4th quarter valued at approximately $28,000. Olde Wealth Management LLC purchased a new position in shares of Intuit during the 1st quarter worth approximately $37,000. Atlantic Edge Private Wealth Management LLC raised its stake in shares of Intuit by 523.1% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 81 shares of the software maker's stock worth $50,000 after buying an additional 68 shares in the last quarter. Finally, Hughes Financial Services LLC purchased a new position in shares of Intuit during the 1st quarter worth approximately $50,000. Institutional investors and hedge funds own 83.66% of the company's stock.

Analysts Set New Price Targets

INTU has been the subject of a number of analyst reports. CLSA initiated coverage on Intuit in a research note on Thursday, June 26th. They set an "outperform" rating and a $900.00 target price for the company. Jefferies Financial Group set a $850.00 price objective on Intuit and gave the company a "buy" rating in a research note 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. Susquehanna reiterated a "positive" rating on shares of Intuit in a report on Friday, May 23rd. Finally, Wall Street Zen upgraded Intuit from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $806.27.

Insider Activity at Intuit

In other Intuit news, CAO Lauren D. Hotz sold 1,738 shares of the business's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $784.09, for a total transaction of $1,362,748.42. Following the sale, the chief accounting officer directly owned 455 shares of the company's stock, valued at $356,760.95. The trade was a 79.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sandeep Aujla sold 2,591 shares of the business's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $782.22, for a total transaction of $2,026,732.02. Following the transaction, the chief financial officer owned 768 shares in the company, valued at approximately $600,744.96. This represents a 77.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 279,800 shares of company stock worth $209,725,054. Insiders own 2.68% of the company's stock.

Intuit Price Performance

Shares of NASDAQ INTU traded down $1.77 during trading on Wednesday, hitting $711.71. The company had a trading volume of 1,602,299 shares, compared to its average volume of 1,592,884. The company has a market cap of $198.53 billion, a P/E ratio of 57.77, a PEG ratio of 2.75 and a beta of 1.28. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $813.70. The business's 50-day moving average is $767.07 and its 200 day moving average is $669.18. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly 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 for the quarter, compared to analysts' expectations of $7.56 billion. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The firm's revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $9.88 earnings per share. Equities research analysts predict that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 10th were paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Thursday, July 10th. Intuit's payout ratio is 33.77%.

About Intuit

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.