Intuit Inc. (NASDAQ:INTU) Holdings Boosted by SRS Capital Advisors Inc.

SRS Capital Advisors Inc. boosted its position in shares of Intuit Inc. (NASDAQ:INTU) by 28.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,380 shares of the software maker’s stock after purchasing an additional 534 shares during the period. SRS Capital Advisors Inc.’s holdings in Intuit were worth $1,564,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in INTU. Aveo Capital Partners LLC purchased a new position in Intuit during the 4th quarter worth approximately $203,000. 9258 Wealth Management LLC boosted its stake in shares of Intuit by 29.0% during the 4th quarter. 9258 Wealth Management LLC now owns 650 shares of the software maker’s stock valued at $406,000 after buying an additional 146 shares during the period. Wealthcare Advisory Partners LLC boosted its stake in shares of Intuit by 15.1% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 641 shares of the software maker’s stock valued at $401,000 after buying an additional 84 shares during the period. Private Advisor Group LLC boosted its stake in shares of Intuit by 6.3% during the 4th quarter. Private Advisor Group LLC now owns 7,236 shares of the software maker’s stock valued at $4,523,000 after buying an additional 431 shares during the period. Finally, Gryphon Financial Partners LLC boosted its stake in shares of Intuit by 31.6% during the 4th quarter. Gryphon Financial Partners LLC now owns 1,635 shares of the software maker’s stock valued at $1,022,000 after buying an additional 393 shares during the period. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Intuit

In other news, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $567.75, for a total transaction of $42,581,250.00. Following the transaction, the insider now directly owns 6,626,721 shares in the company, valued at $3,762,320,847.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Scott D. Cook sold 27,309 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $593.16, for a total value of $16,198,606.44. Following the transaction, the insider now directly owns 6,524,412 shares in the company, valued at $3,870,020,221.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Scott D. Cook sold 75,000 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $567.75, for a total transaction of $42,581,250.00. Following the completion of the transaction, the insider now owns 6,626,721 shares in the company, valued at $3,762,320,847.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 116,308 shares of company stock worth $67,651,926. Corporate insiders own 2.90% of the company’s stock.

Intuit Price Performance

Intuit stock traded down $6.36 during trading hours on Friday, hitting $615.12. 999,734 shares of the stock were exchanged, compared to its average volume of 1,330,498. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.50 and a current ratio of 1.29. The stock has a market capitalization of $171.95 billion, a P/E ratio of 56.75, a P/E/G ratio of 3.08 and a beta of 1.23. Intuit Inc. has a 12 month low of $473.56 and a 12 month high of $676.62. The business’s 50-day moving average is $638.42 and its two-hundred day moving average is $632.43.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.14. The firm had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.40 earnings per share. Equities research analysts expect that Intuit Inc. will post 14.06 EPS for the current fiscal year.

Intuit Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. This is a positive change from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date is Thursday, October 10th. Intuit’s dividend payout ratio is presently 38.38%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on INTU. Morgan Stanley lowered shares of Intuit from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $750.00 to $685.00 in a research note on Wednesday, August 14th. Jefferies Financial Group lifted their price objective on shares of Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. BMO Capital Markets lifted their price objective on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. KeyCorp lifted their price objective on shares of Intuit from $720.00 to $740.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Finally, Bank of America lifted their price objective on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and an average target price of $720.37.

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.