Mackenzie Financial Corp Sells 17,080 Shares of Intuit Inc. (NASDAQ:INTU)

Mackenzie Financial Corp decreased its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 5.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 270,661 shares of the software maker's stock after selling 17,080 shares during the quarter. Mackenzie Financial Corp owned 0.10% of Intuit worth $170,110,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Great Diamond Partners LLC raised its stake in Intuit by 2.8% during the fourth quarter. Great Diamond Partners LLC now owns 627 shares of the software maker's stock worth $394,000 after acquiring an additional 17 shares in the last quarter. Drive Wealth Management LLC boosted its holdings in Intuit by 2.4% in the fourth quarter. Drive Wealth Management LLC now owns 760 shares of the software maker's stock valued at $478,000 after acquiring an additional 18 shares during the last quarter. NewSquare Capital LLC grew its position in shares of Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after buying an additional 18 shares during the period. Ethos Financial Group LLC grew its position in shares of Intuit by 3.7% during the 4th quarter. Ethos Financial Group LLC now owns 508 shares of the software maker's stock worth $319,000 after buying an additional 18 shares during the period. Finally, Legacy Investment Solutions LLC grew its position in shares of Intuit by 18.0% during the 4th quarter. Legacy Investment Solutions LLC now owns 118 shares of the software maker's stock worth $68,000 after buying an additional 18 shares during the period. Institutional investors own 83.66% of the company's stock.

Insider Activity at Intuit

In other news, insider Scott D. Cook sold 6,446 shares of the business's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the sale, the insider now owns 6,219,900 shares in the company, valued at approximately $3,758,436,774. The trade was a 0.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Eve B. Burton sold 1,702 shares of the business's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the sale, the director now owns 8 shares in the company, valued at approximately $4,800. This trade represents a 99.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,696 shares of company stock worth $14,347,731 over the last quarter. Corporate insiders own 2.68% of the company's stock.

Analyst Upgrades and Downgrades

INTU has been the topic of a number of recent research reports. Royal Bank of Canada reiterated an "outperform" rating and issued a $850.00 target price (up from $760.00) on shares of Intuit in a report on Friday, May 23rd. Wall Street Zen raised Intuit from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Jefferies Financial Group set a $850.00 price objective on Intuit and gave the stock a "buy" rating in a report on Friday, May 23rd. Barclays reissued an "overweight" rating and issued a $815.00 price objective (up previously from $775.00) on shares of Intuit in a report on Friday, May 23rd. Finally, Susquehanna restated a "positive" rating on shares of Intuit in a research note on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $785.33.

Intuit Trading Up 0.4%

Shares of NASDAQ INTU traded up $2.77 during mid-day trading on Thursday, hitting $757.22. The stock had a trading volume of 1,588,874 shares, compared to its average volume of 1,628,599. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $765.27. The business has a 50 day moving average price of $625.14 and a two-hundred day moving average price of $622.73. The firm has a market cap of $211.69 billion, a P/E ratio of 73.52, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24.

Intuit (NASDAQ:INTU - Get Free Report) last released 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 business had revenue of $7.75 billion for the quarter, compared to analysts' expectations of $7.56 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm's revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $9.88 earnings per share. On average, equities analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a 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%.

About Intuit

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.