Intuit Inc. (NASDAQ:INTU) Position Lowered by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale cut its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 0.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 314,315 shares of the software maker's stock after selling 389 shares during the quarter. DekaBank Deutsche Girozentrale owned 0.11% of Intuit worth $185,048,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Copia Wealth Management purchased a new stake in Intuit during the 4th quarter worth about $25,000. Summit Securities Group LLC purchased a new stake in Intuit during the 4th quarter worth about $28,000. Heck Capital Advisors LLC purchased a new stake in Intuit during the 4th quarter worth about $28,000. VSM Wealth Advisory LLC purchased a new stake in Intuit during the 4th quarter worth about $35,000. Finally, Olde Wealth Management LLC purchased a new stake in shares of Intuit in the 1st quarter valued at about $37,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Price Performance

Shares of NASDAQ:INTU traded down $20.65 during trading on Thursday, hitting $747.90. 1,780,858 shares of the stock were exchanged, compared to its average volume of 1,815,599. The company has a fifty day moving average price of $728.22 and a two-hundred day moving average price of $645.23. The company has a market cap of $208.63 billion, a PE ratio of 60.71, a P/E/G ratio of 3.48 and a beta of 1.27. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $790.60.

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

Intuit Announces Dividend

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

Insider Buying and Selling at Intuit

In related news, Director Richard L. Dalzell sold 333 shares of the stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $784.57, for a total value of $261,261.81. Following the completion of the sale, the director directly owned 16,140 shares in the company, valued at approximately $12,662,959.80. This represents a 2.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sandeep Aujla sold 2,591 shares of the firm's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $782.22, for a total value of $2,026,732.02. Following the sale, the chief financial officer owned 768 shares of the company's stock, valued at $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 quarter, insiders sold 279,467 shares of company stock worth $209,469,167. 2.68% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on INTU shares. HSBC raised Intuit from a "hold" rating to a "buy" rating and set a $699.00 target price for the company in a report on Wednesday, April 23rd. Wells Fargo & Company set a $880.00 target price on Intuit and gave the company an "overweight" rating in a report on Friday, June 13th. Morgan Stanley boosted their target price on Intuit from $785.00 to $900.00 and gave the company an "overweight" rating in a report on Monday. The Goldman Sachs Group boosted their target price on Intuit from $750.00 to $860.00 and gave the company a "buy" rating in a report on Monday, May 19th. Finally, Scotiabank raised Intuit from a "sector perform" rating to a "sector outperform" rating and boosted their target price for the company from $600.00 to $700.00 in a report on Thursday, April 17th. One investment 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 given a strong buy rating to the company's stock. According to MarketBeat, Intuit currently has a consensus rating of "Moderate Buy" and an average target price of $800.55.

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.