Intuit Inc. (NASDAQ:INTU) Shares Sold by Conning Inc.

Conning Inc. lessened its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 7.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,820 shares of the software maker's stock after selling 724 shares during the quarter. Conning Inc.'s holdings in Intuit were worth $5,415,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. NewSquare Capital LLC grew its position in shares of Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock valued at $27,000 after purchasing an additional 18 shares in the last quarter. Ethos Financial Group LLC lifted its holdings in Intuit by 3.7% in the fourth quarter. Ethos Financial Group LLC now owns 508 shares of the software maker's stock valued at $319,000 after acquiring an additional 18 shares during the last quarter. Legacy Investment Solutions LLC lifted its stake in Intuit by 18.0% during the fourth quarter. Legacy Investment Solutions LLC now owns 118 shares of the software maker's stock worth $68,000 after purchasing an additional 18 shares in the last quarter. Financial Management Professionals Inc. lifted its stake in Intuit by 18.4% during the first quarter. Financial Management Professionals Inc. now owns 116 shares of the software maker's stock worth $71,000 after purchasing an additional 18 shares in the last quarter. Finally, Chris Bulman Inc lifted its stake in Intuit by 1.2% during the first quarter. Chris Bulman Inc now owns 1,523 shares of the software maker's stock worth $935,000 after purchasing an additional 18 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company's stock.

Intuit Stock Performance

Shares of INTU stock traded up $8.56 during mid-day trading on Friday, hitting $782.26. 822,973 shares of the stock were exchanged, compared to its average volume of 1,619,453. The stock's fifty day simple moving average is $715.74 and its two-hundred day simple moving average is $641.72. The stock has a market capitalization of $218.21 billion, a price-to-earnings ratio of 63.49, a P/E/G ratio of 3.47 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 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 issued its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.89 by $0.76. The company had revenue of $7.75 billion for 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%. The business's quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter last year, the company posted $9.88 earnings per share. On average, analysts forecast that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 10th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Thursday, July 10th. Intuit's payout ratio is 33.77%.

Insider Activity at Intuit

In related news, insider Scott D. Cook sold 72,442 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $741.29, for a total transaction of $53,700,530.18. Following the transaction, the insider owned 6,063,495 shares of the company's stock, valued at $4,494,808,208.55. This trade represents a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Laura A. Fennell sold 25,648 shares of the firm's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $752.25, for a total value of $19,293,708.00. Following the transaction, the executive vice president directly owned 22,796 shares in the company, valued at approximately $17,148,291. This represents a 52.94% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 275,661 shares of company stock valued at $206,491,776. Corporate insiders own 2.68% of the company's stock.

Wall Street Analysts Forecast Growth

INTU has been the topic of a number of research reports. Jefferies Financial Group set a $850.00 price target on Intuit and gave the stock a "buy" rating in a research note on Friday, May 23rd. Hsbc Global Res upgraded Intuit from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. KeyCorp reiterated an "overweight" rating and issued a $850.00 price objective (up from $770.00) on shares of Intuit in a research note on Friday, May 23rd. UBS Group set a $750.00 price objective on Intuit and gave the company a "neutral" rating in a research note on Friday, May 23rd. Finally, Scotiabank upgraded Intuit from a "sector perform" rating to a "sector outperform" rating and increased their price objective for the company from $600.00 to $700.00 in a research note on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $793.05.

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.