Mesirow Financial Investment Management Inc. Lowers Stock Position in Intuit Inc. (NASDAQ:INTU)

Key Points

• Mesirow Financial Investment Management Inc. has significantly reduced its stake in Intuit Inc. by 53.1%, holding only 1,348 shares after selling 1,526 shares during the first quarter.
• Intuit's recent earnings report showed $11.65 EPS, exceeding estimates and reflecting a 15.1% year-over-year revenue growth with a total of $7.75 billion in revenue for the quarter.
• The company announced a quarterly dividend of $1.04 per share, representing a 0.5% yield and a payout ratio of 33.77%.

Mesirow Financial Investment Management Inc. reduced its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 53.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,348 shares of the software maker's stock after selling 1,526 shares during the period. Mesirow Financial Investment Management Inc.'s holdings in Intuit were worth $828,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in INTU. Copia Wealth Management bought a new stake in Intuit during the 4th quarter valued at approximately $25,000. Heck Capital Advisors LLC bought a new stake in Intuit during the 4th quarter valued at approximately $28,000. Olde Wealth Management LLC bought a new stake in Intuit in the 1st quarter worth approximately $37,000. Atlantic Edge Private Wealth Management LLC increased its stake in Intuit by 523.1% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 81 shares of the software maker's stock worth $50,000 after acquiring an additional 68 shares during the last quarter. Finally, Hughes Financial Services LLC bought a new stake in Intuit in the 1st quarter worth approximately $50,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Intuit news, EVP Mark P. Notarainni sold 1,147 shares of the stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $773.90, for a total transaction of $887,663.30. Following the transaction, the executive vice president directly owned 19 shares of the company's stock, valued at $14,704.10. This represents a 98.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Richard L. Dalzell sold 333 shares of the company's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $768.43, for a total transaction of $255,887.19. Following the sale, the director owned 15,474 shares of the company's stock, valued at $11,890,685.82. This trade represents a 2.11% decrease in their ownership of the stock. 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. Corporate insiders own 2.68% of the company's stock.

Intuit Stock Performance

INTU opened at $785.13 on Friday. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $813.70. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45. The stock's 50 day simple moving average is $765.98 and its 200 day simple moving average is $660.69. The stock has a market cap of $219.01 billion, a P/E ratio of 63.73, a P/E/G ratio of 3.58 and a beta of 1.27.

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

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 10th were issued a dividend of $1.04 per share. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $4.16 annualized dividend and a yield of 0.5%. Intuit's payout ratio is presently 33.77%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Scotiabank raised Intuit from a "sector perform" rating to a "sector outperform" rating and lifted their price objective for the stock from $600.00 to $700.00 in a research note on Thursday, April 17th. Citigroup reaffirmed a "buy" rating and issued a $789.00 price objective (up previously from $726.00) on shares of Intuit in a research note on Friday, May 23rd. Stifel Nicolaus lifted their price objective on Intuit from $725.00 to $850.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. JPMorgan Chase & Co. lifted their price objective on Intuit from $660.00 to $770.00 and gave the stock an "overweight" rating in a research note on Friday, May 23rd. Finally, Bank of America lifted their target price on Intuit from $730.00 to $875.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $806.27.

Intuit Company 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.

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