Cognios Capital LLC Buys 695 Shares of Intuit Inc. (INTU)

Cognios Capital LLC grew its stake in Intuit Inc. (NASDAQ:INTU) by 13.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,731 shares of the software maker’s stock after purchasing an additional 695 shares during the period. Cognios Capital LLC’s holdings in Intuit were worth $1,303,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in INTU. Oakworth Capital Inc. increased its holdings in shares of Intuit by 2,480.0% in the third quarter. Oakworth Capital Inc. now owns 516 shares of the software maker’s stock valued at $117,000 after purchasing an additional 496 shares during the period. Fort L.P. acquired a new position in shares of Intuit in the second quarter valued at approximately $120,000. Financial Gravity Wealth Inc. increased its holdings in shares of Intuit by 65.0% in the third quarter. Financial Gravity Wealth Inc. now owns 609 shares of the software maker’s stock valued at $122,000 after purchasing an additional 240 shares during the period. Qube Research & Technologies Ltd grew its holdings in Intuit by 160.1% during the second quarter. Qube Research & Technologies Ltd now owns 606 shares of the software maker’s stock worth $124,000 after acquiring an additional 373 shares during the period. Finally, Sun Life Financial INC grew its holdings in Intuit by 243.8% during the second quarter. Sun Life Financial INC now owns 660 shares of the software maker’s stock worth $135,000 after acquiring an additional 468 shares during the period. 87.17% of the stock is currently owned by institutional investors and hedge funds.

INTU opened at $212.98 on Friday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.16. The firm has a market cap of $54.58 billion, a price-to-earnings ratio of 46.48, a PEG ratio of 2.41 and a beta of 1.19. Intuit Inc. has a one year low of $150.43 and a one year high of $231.84.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, August 23rd. The software maker reported $0.32 EPS for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.09. The company had revenue of $988.00 million for the quarter, compared to the consensus estimate of $952.67 million. Intuit had a return on equity of 67.39% and a net margin of 20.31%. Intuit’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.20 earnings per share. On average, equities analysts anticipate that Intuit Inc. will post 5.24 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 18th. Stockholders of record on Wednesday, October 10th were given a $0.47 dividend. This is an increase from Intuit’s previous quarterly dividend of $0.39. This represents a $1.88 annualized dividend and a dividend yield of 0.88%. The ex-dividend date was Tuesday, October 9th. Intuit’s dividend payout ratio is currently 41.50%.

In other news, EVP Henry Tayloe Stansbury sold 3,651 shares of the company’s stock in a transaction on Friday, September 21st. The stock was sold at an average price of $221.54, for a total value of $808,842.54. Following the sale, the executive vice president now directly owns 4,048 shares in the company, valued at $896,793.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brad D. Smith sold 254,325 shares of the company’s stock in a transaction on Friday, September 14th. The shares were sold at an average price of $227.66, for a total value of $57,899,629.50. Following the completion of the sale, the chief executive officer now owns 415,445 shares in the company, valued at $94,580,208.70. The disclosure for this sale can be found here. Insiders sold 622,236 shares of company stock worth $137,883,071 over the last 90 days. Company insiders own 5.59% of the company’s stock.

A number of research analysts recently weighed in on the company. BidaskClub raised Intuit from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 19th. Guggenheim assumed coverage on Intuit in a report on Tuesday, August 7th. They set a “buy” rating and a $250.00 price objective on the stock. Stifel Nicolaus upped their price objective on Intuit from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, August 24th. Zacks Investment Research lowered Intuit from a “buy” rating to a “hold” rating in a report on Tuesday, July 24th. Finally, Credit Suisse Group set a $250.00 price objective on Intuit and gave the stock a “buy” rating in a report on Monday, October 15th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $224.29.

About Intuit

Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.

Further Reading: Why do company’s buyback their stock?

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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