MCF Advisors LLC Increases Holdings in Intuit Inc. (NASDAQ:INTU)

MCF Advisors LLC grew its holdings in Intuit Inc. (NASDAQ:INTU) by 119.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46 shares of the software maker’s stock after acquiring an additional 25 shares during the period. MCF Advisors LLC’s holdings in Intuit were worth $29,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. OFI Invest Asset Management bought a new stake in shares of Intuit in the third quarter worth about $51,000. V Square Quantitative Management LLC increased its holdings in shares of Intuit by 18.8% in the third quarter. V Square Quantitative Management LLC now owns 3,050 shares of the software maker’s stock worth $1,558,000 after purchasing an additional 482 shares during the last quarter. Compagnie Lombard Odier SCmA increased its holdings in shares of Intuit by 27.5% in the third quarter. Compagnie Lombard Odier SCmA now owns 8,800 shares of the software maker’s stock worth $4,496,000 after purchasing an additional 1,900 shares during the last quarter. Glenmede Trust Co. NA increased its holdings in shares of Intuit by 12.7% in the third quarter. Glenmede Trust Co. NA now owns 18,397 shares of the software maker’s stock worth $9,400,000 after purchasing an additional 2,074 shares during the last quarter. Finally, Hixon Zuercher LLC bought a new stake in Intuit during the fourth quarter worth approximately $1,292,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on INTU. Evercore ISI boosted their price objective on Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Stifel Nicolaus boosted their price objective on Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. boosted their price objective on Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a research note on Friday, February 23rd. Barclays boosted their price objective on Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Finally, BMO Capital Markets reissued an “outperform” rating and set a $700.00 price objective on shares of Intuit in a research note on Tuesday, March 26th. Five investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $645.00.

Intuit Stock Performance

Shares of INTU stock opened at $609.77 on Tuesday. The business’s fifty day simple moving average is $641.98 and its 200-day simple moving average is $600.94. The company has a market cap of $170.74 billion, a PE ratio of 62.22, a PEG ratio of 3.68 and a beta of 1.21. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35. Intuit Inc. has a 12-month low of $400.22 and a 12-month high of $671.01.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.33. The business had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The business’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.05 earnings per share. Analysts expect that Intuit Inc. will post 11.27 earnings per share for the current fiscal year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend was Tuesday, April 9th. Intuit’s payout ratio is presently 36.73%.

Insider Transactions at Intuit

In other news, CAO Lauren D. Hotz sold 745 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $655.13, for a total transaction of $488,071.85. Following the transaction, the chief accounting officer now directly owns 3,180 shares of the company’s stock, valued at $2,083,313.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Kerry J. Mclean sold 3,692 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the transaction, the executive vice president now directly owns 22,948 shares of the company’s stock, valued at approximately $15,233,800.32. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Lauren D. Hotz sold 745 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $655.13, for a total value of $488,071.85. Following the completion of the transaction, the chief accounting officer now directly owns 3,180 shares in the company, valued at $2,083,313.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,717 shares of company stock valued at $3,117,156. Corporate insiders own 2.90% of the company’s stock.

About Intuit

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.