Intuit Inc. (NASDAQ:INTU) Position Trimmed by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC lessened its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 5.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,700 shares of the software maker’s stock after selling 1,916 shares during the quarter. Intuit makes up 1.3% of Essex Investment Management Co. LLC’s investment portfolio, making the stock its 8th largest holding. Essex Investment Management Co. LLC’s holdings in Intuit were worth $9,228,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in INTU. West Oak Capital LLC bought a new stake in shares of Intuit in the 3rd quarter valued at approximately $27,000. Manchester Financial Inc. bought a new stake in shares of Intuit in the 2nd quarter valued at approximately $30,000. FNY Investment Advisers LLC bought a new stake in shares of Intuit in the 2nd quarter valued at approximately $30,000. Cerebellum GP LLC bought a new stake in shares of Intuit in the 3rd quarter valued at approximately $32,000. Finally, NewSquare Capital LLC bought a new stake in shares of Intuit in the 2nd quarter valued at approximately $42,000. 87.12% of the stock is currently owned by institutional investors.

In other Intuit news, EVP Gregory N. Johnson sold 2,500 shares of the company’s stock in a transaction on 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 directly owns 11,625 shares in the company, valued at $3,379,852.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kerry J. Mclean sold 20,543 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $277.05, for a total value of $5,691,438.15. Following the completion of the sale, the senior vice president now owns 25,170 shares in the company, valued at $6,973,348.50. The disclosure for this sale can be found here. Insiders sold 285,279 shares of company stock worth $68,553,645 over the last quarter. Company insiders own 4.60% of the company’s stock.

A number of research analysts have recently commented on the company. UBS Group upped their price target on Intuit from $260.00 to $285.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Citigroup upped their price target on Intuit from $250.00 to $285.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Peel Hunt reiterated a “hold” rating on shares of Intuit in a report on Tuesday. Jefferies Financial Group set a $320.00 price target on Intuit and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, ValuEngine lowered Intuit from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. Intuit has an average rating of “Hold” and an average price target of $277.00.

Shares of NASDAQ INTU opened at $257.82 on Wednesday. The business has a fifty day simple moving average of $269.20 and a 200 day simple moving average of $265.04. 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 firm has a market capitalization of $68.19 billion, a price-to-earnings ratio of 46.20, a PEG ratio of 2.56 and a beta of 1.10. Intuit Inc. has a one year low of $182.61 and a one year high of $295.77.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, August 22nd. The software maker reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.37. The business had revenue of $994.00 million during the quarter, compared to analyst estimates of $964.02 million. Intuit had a return on equity of 43.86% and a net margin of 22.95%. Intuit’s revenue was up 15.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.32 earnings per share. On average, research analysts anticipate that Intuit Inc. will post 6.3 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Thursday, October 10th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.82%. This is a positive change from Intuit’s previous quarterly dividend of $0.47. The ex-dividend date was Wednesday, October 9th. Intuit’s dividend payout ratio is presently 37.99%.

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.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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