Knights of Columbus Asset Advisors LLC Sells 1,021 Shares of Intuit Inc. (NASDAQ:INTU)

Key Points

• Knights of Columbus Asset Advisors LLC reduced its stake in Intuit Inc. by 11.0%, selling 1,021 shares during the first quarter, bringing their total holdings to 8,224 shares valued at approximately $5,049,000.
• Insider sales at Intuit were significant, with EVP Laura A. Fennell selling 25,648 shares for over $19 million, resulting in a 52.94% decrease in her ownership, while another EVP also reduced their stake by 41.96%.
• Intuit's most recent earnings report indicated a strong performance with an EPS of $11.65, surpassing analyst expectations and showing a year-over-year revenue increase of 15.1%.

Knights of Columbus Asset Advisors LLC reduced its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 11.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,224 shares of the software maker's stock after selling 1,021 shares during the quarter. Knights of Columbus Asset Advisors LLC's holdings in Intuit were worth $5,049,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Legacy Investment Solutions LLC raised its position 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 acquiring an additional 18 shares in the last quarter. Financial Management Professionals Inc. increased its position in Intuit by 18.4% during the 1st quarter. Financial Management Professionals Inc. now owns 116 shares of the software maker's stock worth $71,000 after buying an additional 18 shares during the period. Chris Bulman Inc raised its stake in Intuit by 1.2% in the 1st 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. Kolinsky Wealth Management LLC boosted its stake in shares of Intuit by 1.6% in the fourth quarter. Kolinsky Wealth Management LLC now owns 1,192 shares of the software maker's stock valued at $749,000 after buying an additional 19 shares during the period. Finally, Monetary Management Group Inc. grew its holdings in shares of Intuit by 1.1% during the 4th quarter. Monetary Management Group Inc. now owns 1,900 shares of the software maker's stock worth $1,194,000 after purchasing an additional 20 shares in the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Kerry J. Mclean sold 16,700 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $729.16, for a total transaction of $12,176,972.00. Following the transaction, the executive vice president directly owned 23,101 shares in the company, valued at approximately $16,844,325.16. The trade was a 41.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Marianna Tessel sold 34,329 shares of the business's stock in a transaction that occurred on 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 completion of 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 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. 2.68% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have weighed in on INTU. Oppenheimer upped their target price on Intuit from $742.00 to $868.00 and gave the stock an "outperform" rating in a research note on Monday. Jefferies Financial Group set a $850.00 price objective on Intuit and gave the stock a "buy" rating in a research report on Friday, May 23rd. BMO Capital Markets raised their price objective on Intuit from $820.00 to $870.00 and gave the company an "outperform" rating in a research note on Thursday, July 10th. UBS Group set a $750.00 target price on Intuit and gave the stock a "neutral" rating in a research note on Friday, May 23rd. Finally, The Goldman Sachs Group raised their price target on shares of Intuit from $750.00 to $860.00 and gave the company a "buy" rating in a research note on Monday, May 19th. One investment 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 company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $806.27.

Intuit Trading Up 0.5%

Shares of NASDAQ INTU traded up $4.21 during trading on Tuesday, reaching $802.94. The company had a trading volume of 715,397 shares, compared to its average volume of 1,770,943. The stock has a market cap of $223.98 billion, a P/E ratio of 65.20, a PEG ratio of 3.49 and a beta of 1.27. The company's fifty day moving average price is $757.95 and its 200-day moving average price is $657.44. 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 Inc. has a 12 month low of $532.65 and a 12 month high of $807.93.

Intuit (NASDAQ:INTU - Get Free Report) last released its earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, topping the consensus estimate of $10.89 by $0.76. The business had revenue of $7.75 billion during 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 last year, the firm posted $9.88 earnings per share. As a group, research analysts expect that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 10th were issued a dividend of $1.04 per share. The ex-dividend date was Thursday, July 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.52%. Intuit's dividend payout ratio is 33.77%.

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.