Raub Brock Capital Management LP Sells 1,494 Shares of Intuit Inc. (NASDAQ:INTU)

Raub Brock Capital Management LP reduced its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 4.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,769 shares of the software maker's stock after selling 1,494 shares during the quarter. Intuit comprises approximately 3.9% of Raub Brock Capital Management LP's portfolio, making the stock its 10th biggest holding. Raub Brock Capital Management LP's holdings in Intuit were worth $17,664,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Norges Bank acquired a new stake in Intuit during the fourth quarter worth about $2,290,419,000. GAMMA Investing LLC increased its stake in Intuit by 69,701.9% during the first quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker's stock worth $17,348,790,000 after acquiring an additional 2,821,534 shares during the last quarter. Proficio Capital Partners LLC increased its stake in Intuit by 112,233.1% during the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker's stock worth $668,595,000 after acquiring an additional 1,062,847 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Intuit by 33.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,072,021 shares of the software maker's stock worth $1,930,765,000 after acquiring an additional 771,232 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in Intuit by 13.3% during the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock worth $3,329,115,000 after acquiring an additional 620,559 shares during the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Price Performance

Shares of INTU stock traded down $12.23 during trading hours on Friday, hitting $753.98. The company had a trading volume of 1,148,047 shares, compared to its average volume of 1,611,840. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $773.45. The firm has a market capitalization of $210.32 billion, a price-to-earnings ratio of 73.20, a PEG ratio of 2.85 and a beta of 1.28. The firm's fifty day moving average is $664.85 and its 200 day moving average is $630.25. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

Intuit (NASDAQ:INTU - Get Free Report) last announced its earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, topping the consensus estimate of $10.89 by $0.76. The business had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. Intuit's revenue was up 15.1% compared to the same quarter last year. During the same period in the previous year, the business earned $9.88 EPS. On average, sell-side analysts predict that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit's payout ratio is currently 33.77%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on INTU. UBS Group set a $750.00 target price on Intuit and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Morgan Stanley reaffirmed an "overweight" rating and issued a $785.00 target price (up previously from $720.00) on shares of Intuit in a research report on Friday, May 23rd. Hsbc Global Res raised Intuit from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. BMO Capital Markets reaffirmed an "outperform" rating and issued a $820.00 target price (up previously from $714.00) on shares of Intuit in a research report on Friday, May 23rd. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $850.00 target price (up previously from $760.00) on shares of Intuit in a research report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $787.95.

Insider Transactions at Intuit

In other Intuit news, EVP Marianna Tessel sold 7,385 shares of the company's stock in a transaction on Friday, March 21st. The stock was sold at an average price of $600.13, for a total transaction of $4,431,960.05. Following the transaction, the executive vice president now owns 40,190 shares of the company's stock, valued at approximately $24,119,224.70. This represents a 15.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eve B. Burton sold 1,702 shares of the company's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the transaction, the director now directly owns 8 shares in the company, valued at approximately $4,800. This represents a 99.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 288,408 shares of company stock valued at $213,441,865 in the last three months. 2.68% of the stock is 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.