Intuit Inc. (NASDAQ:INTU) Shares Sold by Palisade Capital Management LP

Palisade Capital Management LP trimmed its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 64.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,500 shares of the software maker's stock after selling 2,724 shares during the period. Palisade Capital Management LP's holdings in Intuit were worth $921,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of INTU. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Intuit by 2.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker's stock valued at $107,854,000 after acquiring an additional 3,648 shares during the last quarter. Capitolis Liquid Global Markets LLC bought a new position in Intuit during the fourth quarter valued at $109,988,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Intuit in the 4th quarter worth $237,244,000. Baer Investment Advisory LLC bought a new stake in shares of Intuit in the 4th quarter worth about $3,261,000. Finally, Trinity Street Asset Management LLP purchased a new stake in shares of Intuit during the 1st quarter valued at about $12,061,000. 83.66% of the stock is currently owned by institutional investors.

Intuit Stock Up 1.1%

Shares of INTU stock traded up $8.56 on Friday, hitting $782.26. The stock had a trading volume of 822,973 shares, compared to its average volume of 1,619,453. Intuit Inc. has a one year low of $532.65 and a one year high of $790.60. The business has a 50 day moving average price of $715.74 and a 200 day moving average price of $641.72. The company has a market cap of $218.21 billion, a PE ratio of 63.49, a P/E/G ratio of 3.44 and a beta of 1.27. 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 (NASDAQ:INTU - Get Free Report) last posted its earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, beating analysts' consensus estimates of $10.89 by $0.76. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The business had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter last year, the firm posted $9.88 EPS. The company's revenue for the quarter was up 15.1% on a year-over-year basis. Research analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

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 issued a dividend of $1.04 per share. The ex-dividend date is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.53%. Intuit's dividend payout ratio is currently 33.77%.

Wall Street Analyst Weigh In

Several research firms recently commented on INTU. Oppenheimer reiterated an "outperform" rating and issued a $742.00 price target (up previously from $642.00) on shares of Intuit in a research report on Friday, May 23rd. Stifel Nicolaus lifted their target price on Intuit from $725.00 to $850.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Royal Bank Of Canada reissued an "outperform" rating and set a $850.00 target price (up previously from $760.00) on shares of Intuit in a research report on Friday, May 23rd. Barclays restated an "overweight" rating and issued a $815.00 price target (up from $775.00) on shares of Intuit in a research report on Friday, May 23rd. Finally, Citigroup reiterated a "buy" rating and set a $789.00 price objective (up previously from $726.00) on shares of Intuit in a research 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 assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $793.05.

Insider Buying and Selling at Intuit

In other news, EVP Mark P. Notarainni sold 1,147 shares of the business's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $773.90, for a total value of $887,663.30. Following the completion of the transaction, the executive vice president directly owned 19 shares of the company's stock, valued at approximately $14,704.10. The trade was a 98.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Lauren D. Hotz sold 1,738 shares of the firm's stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $784.09, for a total value of $1,362,748.42. Following the sale, the chief accounting officer directly owned 455 shares in the company, valued at approximately $356,760.95. The trade was a 79.25% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 275,661 shares of company stock worth $206,491,776. 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.