Davidson Capital Management Inc. Sells 451 Shares of Intuit Inc. (NASDAQ:INTU)

Davidson Capital Management Inc. lowered its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 8.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,920 shares of the software maker's stock after selling 451 shares during the period. Intuit accounts for about 0.8% of Davidson Capital Management Inc.'s holdings, making the stock its 23rd biggest position. Davidson Capital Management Inc.'s holdings in Intuit were worth $3,021,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Intuit by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker's stock valued at $16,991,696,000 after buying an additional 353,185 shares in the last quarter. Geode Capital Management LLC increased its stake in Intuit by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker's stock valued at $3,833,720,000 after acquiring an additional 132,384 shares during the last quarter. Wellington Management Group LLP raised its position in Intuit by 13.3% during the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock valued at $3,329,115,000 after purchasing an additional 620,559 shares in the last quarter. Norges Bank bought a new stake in Intuit during the fourth quarter worth about $2,290,419,000. Finally, Northern Trust Corp boosted its holdings in shares of Intuit by 17.3% in the 4th quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker's stock worth $2,118,682,000 after purchasing an additional 498,030 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company's stock.

Insider Buying and Selling

In related news, insider Scott D. Cook sold 72,442 shares of Intuit stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $741.29, for a total value of $53,700,530.18. Following the completion of the sale, the insider now directly owns 6,063,495 shares in the company, valued at approximately $4,494,808,208.55. This trade represents a 1.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sandeep Aujla sold 16,061 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $726.13, for a total value of $11,662,373.93. Following the completion of the transaction, the chief financial officer now directly owns 197 shares of the company's stock, valued at approximately $143,047.61. This trade represents a 98.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 286,706 shares of company stock worth $212,420,665 in the last three months. Insiders own 2.68% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on INTU. UBS Group set a $750.00 target price on Intuit and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Morgan Stanley restated an "overweight" rating and issued a $785.00 price objective (up from $720.00) on shares of Intuit in a report on Friday, May 23rd. Scotiabank raised shares of Intuit from a "sector perform" rating to a "sector outperform" rating and increased their target price for the company from $600.00 to $700.00 in a report on Thursday, April 17th. The Goldman Sachs Group lifted their target price on shares of Intuit from $750.00 to $860.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. Finally, Susquehanna restated a "positive" rating on shares of Intuit in a report on Friday, May 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Intuit has an average rating of "Moderate Buy" and an average target price of $787.95.

Intuit Stock Down 1.3%

INTU stock traded down $10.07 on Thursday, reaching $754.83. 2,223,307 shares of the company traded hands, compared to its average volume of 1,614,881. The firm has a fifty day simple moving average of $675.86 and a 200-day simple moving average of $632.87. The company has a market cap of $210.56 billion, a P/E ratio of 61.27, a price-to-earnings-growth ratio of 3.40 and a beta of 1.28. Intuit Inc. has a one year low of $532.65 and a one year high of $773.45. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45.

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

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit's dividend payout ratio (DPR) is currently 33.77%.

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.