Burney Co. Sells 98 Shares of Intuit Inc. (NASDAQ:INTU)

Burney Co. lessened its holdings in Intuit Inc. (NASDAQ:INTU) by 9.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 996 shares of the software maker’s stock after selling 98 shares during the period. Burney Co.’s holdings in Intuit were worth $647,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Desjardins Global Asset Management Inc. lifted its position in Intuit by 1.4% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 1,181 shares of the software maker’s stock valued at $738,000 after acquiring an additional 16 shares during the last quarter. JFS Wealth Advisors LLC increased its stake in shares of Intuit by 1.0% in the fourth quarter. JFS Wealth Advisors LLC now owns 1,564 shares of the software maker’s stock worth $978,000 after acquiring an additional 16 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Intuit by 3.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 449 shares of the software maker’s stock worth $281,000 after acquiring an additional 16 shares during the period. Janiczek Wealth Management LLC increased its stake in shares of Intuit by 2.4% in the fourth quarter. Janiczek Wealth Management LLC now owns 716 shares of the software maker’s stock worth $448,000 after acquiring an additional 17 shares during the period. Finally, Hohimer Wealth Management LLC increased its stake in shares of Intuit by 0.9% in the fourth quarter. Hohimer Wealth Management LLC now owns 1,816 shares of the software maker’s stock worth $1,135,000 after acquiring an additional 17 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Activity at Intuit

In other Intuit news, EVP Mark P. Notarainni sold 465 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total transaction of $281,129.70. Following the transaction, the executive vice president now owns 869 shares of the company’s stock, valued at approximately $525,380.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Sandeep Aujla sold 1,061 shares of the company’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $651.27, for a total transaction of $690,997.47. Following the completion of the sale, the chief financial officer now directly owns 3,333 shares in the company, valued at approximately $2,170,682.91. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Mark P. Notarainni sold 465 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total value of $281,129.70. Following the transaction, the executive vice president now directly owns 869 shares of the company’s stock, valued at approximately $525,380.02. The disclosure for this sale can be found here. In the last quarter, insiders have sold 195,963 shares of company stock valued at $114,442,445. 2.90% of the stock is owned by insiders.

Analyst Ratings Changes

INTU has been the topic of several recent analyst reports. Erste Group Bank reaffirmed a “hold” rating on shares of Intuit in a report on Friday, June 14th. Citigroup lifted their price objective on shares of Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a report on Friday, June 28th. Morgan Stanley boosted their price objective on shares of Intuit from $680.00 to $740.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. UBS Group upped their price target on shares of Intuit from $625.00 to $670.00 and gave the company a “neutral” rating in a research report on Monday, May 20th. Finally, Wells Fargo & Company boosted their price objective on shares of Intuit from $725.00 to $750.00 and gave the company an “overweight” rating in a research note on Tuesday, May 21st. Four investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $694.27.

Intuit Stock Performance

Shares of NASDAQ INTU traded down $13.90 during trading hours on Friday, reaching $623.92. The stock had a trading volume of 1,788,726 shares, compared to its average volume of 1,239,510. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.50 and a quick ratio of 1.50. The business’s fifty day moving average is $622.03 and its two-hundred day moving average is $633.64. Intuit Inc. has a twelve month low of $473.56 and a twelve month high of $676.62. The company has a market cap of $174.42 billion, a price-to-earnings ratio of 57.56, a PEG ratio of 3.14 and a beta of 1.23.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, May 23rd. The software maker reported $9.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.12 by $1.76. The business had revenue of $6.74 billion for the quarter, compared to analysts’ expectations of $6.65 billion. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the business earned $7.80 earnings per share. As a group, research analysts expect that Intuit Inc. will post 11.72 EPS for the current year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 18th. Investors of record on Wednesday, July 10th were given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date was Wednesday, July 10th. Intuit’s dividend payout ratio is presently 33.21%.

Intuit Profile

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.