Perigon Wealth Management LLC Has $409,000 Stock Position in Intuit Inc. (NASDAQ:INTU)

Perigon Wealth Management LLC grew its position in Intuit Inc. (NASDAQ:INTU) by 11.6% during the 1st quarter, HoldingsChannel.com reports. The firm owned 1,067 shares of the software maker’s stock after acquiring an additional 111 shares during the quarter. Perigon Wealth Management LLC’s holdings in Intuit were worth $409,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Duality Advisers LP acquired a new position in Intuit in the first quarter worth approximately $3,202,000. Ironwood Financial llc lifted its stake in shares of Intuit by 27.3% in the 1st quarter. Ironwood Financial llc now owns 4,498 shares of the software maker’s stock valued at $1,723,000 after purchasing an additional 966 shares during the last quarter. Jag Capital Management LLC bought a new stake in Intuit in the first quarter worth $1,052,000. Segment Wealth Management LLC increased its position in Intuit by 3.4% during the first quarter. Segment Wealth Management LLC now owns 21,311 shares of the software maker’s stock worth $8,163,000 after buying an additional 691 shares during the last quarter. Finally, Sara Bay Financial raised its holdings in Intuit by 2.1% during the first quarter. Sara Bay Financial now owns 18,874 shares of the software maker’s stock valued at $7,230,000 after buying an additional 383 shares in the last quarter. 83.74% of the stock is owned by institutional investors.

Shares of Intuit stock opened at $514.45 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.96 and a current ratio of 1.96. The company’s 50-day simple moving average is $469.90. Intuit Inc. has a twelve month low of $286.35 and a twelve month high of $514.59. The firm has a market cap of $140.58 billion, a price-to-earnings ratio of 65.96, a P/E/G ratio of 4.75 and a beta of 1.01.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Monday, May 24th. The software maker reported $6.07 EPS for the quarter, missing analysts’ consensus estimates of $6.19 by ($0.12). Intuit had a return on equity of 28.76% and a net margin of 23.93%. The business had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $4.27 billion. During the same quarter in the prior year, the business earned $4.49 EPS. The firm’s revenue for the quarter was up 39.0% on a year-over-year basis. Sell-side analysts predict that Intuit Inc. will post 7.26 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 19th. Shareholders of record on Monday, July 12th were paid a dividend of $0.59 per share. The ex-dividend date was Friday, July 9th. This represents a $2.36 annualized dividend and a yield of 0.46%. Intuit’s dividend payout ratio is currently 35.98%.

A number of research analysts recently weighed in on the company. William Blair reissued an “outperform” rating on shares of Intuit in a research note on Wednesday, May 12th. Oppenheimer restated a “buy” rating and issued a $474.00 price objective on shares of Intuit in a research note on Wednesday, May 26th. Barclays upped their price objective on shares of Intuit from $482.00 to $540.00 and gave the stock an “overweight” rating in a report on Wednesday, May 26th. KeyCorp lifted their target price on shares of Intuit from $450.00 to $475.00 and gave the stock an “overweight” rating in a report on Wednesday, May 26th. Finally, Stifel Nicolaus upped their price target on shares of Intuit from $425.00 to $490.00 and gave the company a “buy” rating in a report on Wednesday, May 26th. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $465.71.

In other news, Director Raul Vazquez sold 1,100 shares of the business’s stock in a transaction that occurred on Friday, June 25th. The stock was sold at an average price of $483.08, for a total value of $531,388.00. Following the transaction, the director now directly owns 1,589 shares of the company’s stock, valued at approximately $767,614.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Mark J. Flournoy sold 665 shares of the stock in a transaction that occurred on Thursday, June 17th. The stock was sold at an average price of $475.27, for a total value of $316,054.55. Following the sale, the chief accounting officer now owns 1,520 shares in the company, valued at $722,410.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 170,677 shares of company stock valued at $73,737,829. Company insiders own 3.38% of the company’s stock.

Intuit Profile

Intuit, Inc engages in the provision of business and financial management solutions. It operates through the following segments: Small Business and Self-Employed; Consumer; and Strategic Partner. The Small Business and Self-Employed segment offers QuickBooks financial and business management online services and desktop software, payroll solutions, payment processing solutions, and financing for small businesses.

Featured Article: How does a reverse stock split work?

Want to see what other hedge funds are holding INTU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intuit Inc. (NASDAQ:INTU).

Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

Receive News & Ratings for Intuit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intuit and related companies with MarketBeat.com's FREE daily email newsletter.