Madison Asset Management LLC Cuts Stock Position in Intuit Inc. (NASDAQ:INTU)

Madison Asset Management LLC reduced its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 79.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,737 shares of the software maker's stock after selling 6,802 shares during the quarter. Madison Asset Management LLC's holdings in Intuit were worth $1,067,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Close Asset Management Ltd raised its holdings in Intuit by 7.9% during the first quarter. Close Asset Management Ltd now owns 3,288 shares of the software maker's stock worth $2,018,000 after buying an additional 240 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in Intuit by 13.0% during the first quarter. Venturi Wealth Management LLC now owns 4,104 shares of the software maker's stock worth $2,520,000 after buying an additional 472 shares during the last quarter. SYM FINANCIAL Corp raised its holdings in Intuit by 5.0% during the first quarter. SYM FINANCIAL Corp now owns 1,803 shares of the software maker's stock worth $1,107,000 after buying an additional 86 shares during the last quarter. Sustainable Growth Advisers LP raised its holdings in Intuit by 1.1% during the first quarter. Sustainable Growth Advisers LP now owns 1,444,779 shares of the software maker's stock worth $887,080,000 after buying an additional 15,433 shares during the last quarter. Finally, VCI Wealth Management LLC acquired a new position in Intuit during the first quarter worth $2,614,000. 83.66% of the stock is owned by institutional investors.

Intuit Trading Up 0.6%

INTU stock traded up $4.74 during midday trading on Friday, reaching $785.95. The company's stock had a trading volume of 1,406,369 shares, compared to its average volume of 1,373,122. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45. The stock has a fifty day simple moving average of $755.39 and a two-hundred day simple moving average of $655.80. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $790.60. The firm has a market capitalization of $219.24 billion, a price-to-earnings ratio of 63.79, a PEG ratio of 3.47 and a beta of 1.27.

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

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 10th were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend was Thursday, July 10th. Intuit's payout ratio is currently 33.77%.

Insider Activity at Intuit

In other news, CFO Sandeep Aujla sold 2,591 shares of the business's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $782.22, for a total transaction of $2,026,732.02. Following the sale, the chief financial officer owned 768 shares in the company, valued at approximately $600,744.96. The trade was a 77.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard L. Dalzell sold 333 shares of the business's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $768.43, for a total value of $255,887.19. Following the sale, the director owned 15,474 shares in the company, valued at $11,890,685.82. The trade was a 2.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 279,800 shares of company stock valued at $209,725,054 over the last 90 days. Company insiders own 2.68% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on INTU shares. Royal Bank Of Canada restated an "outperform" rating and set a $850.00 price objective (up previously from $760.00) on shares of Intuit in a report on Friday, May 23rd. HSBC upgraded shares of 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. BMO Capital Markets increased their target price on shares of Intuit from $820.00 to $870.00 and gave the company an "outperform" rating in a report on Thursday, July 10th. CLSA initiated coverage on shares of Intuit in a report on Thursday, June 26th. They issued an "outperform" rating and a $900.00 target price for the company. Finally, Stifel Nicolaus increased their target price on shares of Intuit from $725.00 to $850.00 and gave the company a "buy" rating in a report on Friday, May 23rd. One research 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.