Putney Financial Group LLC Invests $262,000 in Intuit Inc. (NASDAQ:INTU)

Putney Financial Group LLC bought a new stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 417 shares of the software maker's stock, valued at approximately $262,000.

A number of other hedge funds have also recently modified their holdings of the business. Janney Montgomery Scott LLC boosted its holdings in Intuit by 25.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 39,268 shares of the software maker's stock worth $24,680,000 after acquiring an additional 7,863 shares in the last quarter. Mutual Advisors LLC boosted its stake in Intuit by 4.6% in the 4th quarter. Mutual Advisors LLC now owns 2,813 shares of the software maker's stock worth $1,708,000 after purchasing an additional 123 shares in the last quarter. Avior Wealth Management LLC grew its position in Intuit by 227.9% during the 4th quarter. Avior Wealth Management LLC now owns 564 shares of the software maker's stock valued at $355,000 after purchasing an additional 392 shares during the last quarter. Brighton Jones LLC increased its stake in Intuit by 61.3% during the 4th quarter. Brighton Jones LLC now owns 3,552 shares of the software maker's stock valued at $2,233,000 after purchasing an additional 1,350 shares in the last quarter. Finally, Benin Management CORP raised its holdings in Intuit by 8.6% in the fourth quarter. Benin Management CORP now owns 453 shares of the software maker's stock worth $285,000 after buying an additional 36 shares during the last quarter. Institutional investors own 83.66% of the company's stock.

Analysts Set New Price Targets

INTU has been the subject of several analyst reports. Oppenheimer reissued an "outperform" rating and set a $742.00 price target (up previously from $642.00) on shares of Intuit in a research report on Friday, May 23rd. Scotiabank upgraded Intuit from a "sector perform" rating to a "sector outperform" rating and boosted their price target for the stock from $600.00 to $700.00 in a research note on Thursday, April 17th. UBS Group set a $750.00 price objective on Intuit and gave the company a "neutral" rating in a research report on Friday, May 23rd. Jefferies Financial Group set a $850.00 target price on Intuit and gave the stock a "buy" rating in a research report on Friday, May 23rd. Finally, Susquehanna reiterated a "positive" rating on shares of Intuit in a research note on Friday, May 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $785.33.

Intuit Stock Performance

NASDAQ INTU traded down $7.58 on Friday, reaching $749.65. 657,002 shares of the stock were exchanged, compared to its average volume of 1,623,792. The firm has a market capitalization of $209.57 billion, a PE ratio of 72.78, a PEG ratio of 2.85 and a beta of 1.24. Intuit Inc. has a one year low of $532.65 and a one year high of $761.18. The company's 50-day simple moving average is $628.02 and its two-hundred day simple moving average is $623.14. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31.

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 net margin of 17.59% and a return on equity of 18.25%. The company had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the prior year, the firm posted $9.88 EPS. Intuit's quarterly revenue was up 15.1% compared to the same quarter last year. Analysts expect that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Thursday, July 10th. This represents a $4.16 annualized dividend and a yield of 0.55%. Intuit's payout ratio is 33.77%.

Insider Buying and Selling at Intuit

In other news, EVP Laura A. Fennell sold 16,185 shares of the company's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $753.21, for a total transaction of $12,190,703.85. Following the sale, the executive vice president now directly owns 22,796 shares in the company, valued at approximately $17,170,175.16. This represents a 41.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark P. Notarainni sold 469 shares of Intuit stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $725.00, for a total value of $340,025.00. Following the completion of the transaction, the executive vice president now owns 19 shares of the company's stock, valued at approximately $13,775. This represents a 96.11% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 164,156 shares of company stock valued at $118,788,255 in the last three months. 2.68% of the stock is currently owned by corporate insiders.

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.