Nisa Investment Advisors LLC Decreases Position in Intuit Inc. (NASDAQ:INTU)

Nisa Investment Advisors LLC decreased its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 26.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 118,164 shares of the software maker's stock after selling 42,241 shares during the period. Nisa Investment Advisors LLC's holdings in Intuit were worth $72,552,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Copia Wealth Management bought a new stake in Intuit during the 4th quarter worth approximately $25,000. Summit Securities Group LLC purchased a new stake in shares of Intuit during the fourth quarter worth about $28,000. Heck Capital Advisors LLC purchased a new stake in shares of Intuit during the fourth quarter worth about $28,000. VSM Wealth Advisory LLC purchased a new stake in shares of Intuit during the fourth quarter worth about $35,000. Finally, Olde Wealth Management LLC purchased a new stake in shares of Intuit during the first quarter worth about $37,000. Institutional investors own 83.66% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on INTU shares. KeyCorp reissued an "overweight" rating and issued a $850.00 target price (up previously from $770.00) on shares of Intuit in a report on Friday, May 23rd. CLSA started coverage on shares of Intuit in a report on Thursday, June 26th. They issued an "outperform" rating and a $900.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on shares of Intuit from $660.00 to $770.00 and gave the stock an "overweight" rating in a report on Friday, May 23rd. Evercore ISI boosted their target price on shares of Intuit from $685.00 to $785.00 and gave the stock an "outperform" rating 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 target price on the stock in a report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $800.55.

Intuit Stock Performance

INTU stock remained flat at $747.90 during midday trading on Friday. The company's stock had a trading volume of 1,047,778 shares, compared to its average volume of 1,623,598. The firm has a 50-day moving average price of $733.03 and a two-hundred day moving average price of $646.71. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29. The stock has a market cap of $208.63 billion, a P/E ratio of 60.71, a price-to-earnings-growth ratio of 3.33 and a beta of 1.27. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $790.60.

Intuit (NASDAQ:INTU - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, beating analysts' consensus estimates of $10.89 by $0.76. The company 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 firm'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 EPS. Sell-side analysts predict that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 10th will be paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date is Thursday, July 10th. Intuit's dividend payout ratio (DPR) is presently 33.77%.

Insiders Place Their Bets

In other Intuit news, CAO Lauren D. Hotz sold 1,738 shares of the firm's stock in a transaction on Friday, June 27th. The stock was sold at an average price of $784.09, for a total value of $1,362,748.42. Following the completion of the sale, the chief accounting officer directly owned 455 shares of the company's stock, valued at $356,760.95. This trade represents a 79.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard L. Dalzell sold 333 shares of the firm's stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $768.43, for a total value of $255,887.19. Following the completion of the sale, the director directly 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. Over the last ninety days, insiders sold 279,800 shares of company stock worth $209,725,054. 2.68% of the stock is currently owned by company insiders.

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.