Cwm LLC Raises Holdings in Intuit Inc. (NASDAQ:INTU)

CWM LLC lifted its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 10.1% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 19,094 shares of the software maker's stock after acquiring an additional 1,756 shares during the quarter. CWM LLC's holdings in Intuit were worth $11,723,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC raised its holdings in Intuit by 61.3% during the 4th quarter. Brighton Jones LLC now owns 3,552 shares of the software maker's stock valued at $2,233,000 after buying an additional 1,350 shares during the last quarter. Revolve Wealth Partners LLC grew its position in shares of Intuit by 145.6% in the 4th quarter. Revolve Wealth Partners LLC now owns 813 shares of the software maker's stock worth $511,000 after buying an additional 482 shares during the period. Bank Pictet & Cie Europe AG grew its position in shares of Intuit by 14.2% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 1,992 shares of the software maker's stock worth $1,252,000 after buying an additional 248 shares during the period. Proficio Capital Partners LLC grew its position in shares of Intuit by 78.8% in the 4th quarter. Proficio Capital Partners LLC now owns 1,693 shares of the software maker's stock worth $1,064,000 after buying an additional 746 shares during the period. Finally, Madison Investment Advisors LLC bought a new position in Intuit in the 4th quarter worth about $5,367,000. 83.66% of the stock is currently owned by institutional investors.

Insider Activity

In other Intuit news, EVP Marianna Tessel sold 34,329 shares of Intuit stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $760.84, for a total value of $26,118,876.36. Following the transaction, the executive vice president owned 40,767 shares in the company, valued at $31,017,164.28. The trade was a 45.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sandeep Aujla sold 16,061 shares of Intuit stock in a transaction dated Tuesday, May 27th. The shares were 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 owned 197 shares in the company, valued at $143,047.61. This trade represents a 98.79% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 279,800 shares of company stock valued at $209,725,054. Company insiders own 2.68% of the company's stock.

Intuit Trading Up 0.6%

INTU traded up $4.77 during trading on Wednesday, reaching $750.72. The company had a trading volume of 1,262,894 shares, compared to its average volume of 1,624,296. The stock has a market cap of $209.41 billion, a P/E ratio of 60.94, a PEG ratio of 3.31 and a beta of 1.27. The business has a 50 day simple moving average of $740.03 and a 200-day simple moving average of $648.90. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $790.60. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29.

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 (EPS) for the quarter, topping 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 company had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same period last year, the company earned $9.88 earnings per share. Intuit's revenue was up 15.1% on a year-over-year basis. On average, equities analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Evercore ISI upped their price target on shares of Intuit from $685.00 to $785.00 and gave the stock an "outperform" rating in a research note on Friday, May 23rd. KeyCorp reiterated an "overweight" rating and issued a $850.00 price objective (up previously from $770.00) on shares of Intuit in a research note on Friday, May 23rd. Morgan Stanley increased their price objective on shares of Intuit from $785.00 to $900.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Barclays reissued an "overweight" rating and issued a $815.00 target price (up from $775.00) on shares of Intuit in a report on Friday, May 23rd. Finally, HSBC raised shares of Intuit from a "hold" rating to a "buy" rating and set a $699.00 price objective for the company in a report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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.