Silvercrest Asset Management Group LLC Raises Position in Intuit Inc. (NASDAQ:INTU)

Silvercrest Asset Management Group LLC lifted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 1.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,047 shares of the software maker’s stock after purchasing an additional 66 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Intuit were worth $1,319,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in INTU. Cornerstone Advisors Inc. lifted its holdings in shares of Intuit by 65.5% during the 1st quarter. Cornerstone Advisors Inc. now owns 1,693 shares of the software maker’s stock worth $443,000 after acquiring an additional 670 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Intuit by 221.0% during the first quarter. Victory Capital Management Inc. now owns 16,379 shares of the software maker’s stock valued at $4,282,000 after buying an additional 11,277 shares during the period. Stephens Inc. AR purchased a new position in shares of Intuit during the first quarter valued at about $235,000. First Allied Advisory Services Inc. purchased a new position in shares of Intuit during the first quarter valued at about $218,000. Finally, Moors & Cabot Inc. bought a new stake in Intuit during the first quarter worth about $234,000. Institutional investors and hedge funds own 87.06% of the company’s stock.

Several research analysts have recently issued reports on the stock. KeyCorp upped their target price on shares of Intuit from $300.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. UBS Group upped their target price on shares of Intuit from $260.00 to $285.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. Credit Suisse Group upped their target price on shares of Intuit from $265.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Zacks Investment Research cut shares of Intuit from a “buy” rating to a “hold” rating and set a $268.00 price objective for the company. in a research note on Wednesday, May 29th. Finally, Deutsche Bank increased their price objective on shares of Intuit from $290.00 to $315.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Three analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $277.00.

In related news, Chairman Scott D. Cook sold 133,333 shares of Intuit stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $278.53, for a total transaction of $37,137,240.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Gregory N. Johnson sold 2,500 shares of Intuit stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $290.74, for a total value of $726,850.00. Following the sale, the executive vice president now owns 11,625 shares of the company’s stock, valued at approximately $3,379,852.50. The disclosure for this sale can be found here. In the last three months, insiders sold 170,088 shares of company stock valued at $47,457,238. 4.60% of the stock is owned by corporate insiders.

NASDAQ INTU traded down $1.65 during trading hours on Friday, reaching $268.37. The company had a trading volume of 37,954 shares, compared to its average volume of 1,390,441. The stock has a market capitalization of $69.84 billion, a P/E ratio of 48.11, a price-to-earnings-growth ratio of 2.62 and a beta of 1.10. Intuit Inc. has a 1-year low of $182.61 and a 1-year high of $295.77. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.10. The stock has a 50-day moving average of $276.31 and a 200 day moving average of $263.23.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, August 22nd. The software maker reported ($0.09) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.46) by $0.37. The firm had revenue of $994.00 million for the quarter, compared to analyst estimates of $964.02 million. Intuit had a net margin of 22.95% and a return on equity of 43.86%. The business’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.32 earnings per share. As a group, sell-side analysts predict that Intuit Inc. will post 6.3 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $2.12 dividend on an annualized basis and a yield of 0.79%. This is an increase from Intuit’s previous quarterly dividend of $0.47. Intuit’s dividend payout ratio (DPR) is 33.69%.

Intuit Profile

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.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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