New Century Financial Group LLC Raises Position in Intuit Inc. (NASDAQ:INTU)

New Century Financial Group LLC raised its position in Intuit Inc. (NASDAQ:INTU) by 5.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,207 shares of the software maker’s stock after buying an additional 58 shares during the period. New Century Financial Group LLC’s holdings in Intuit were worth $750,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. LGT Financial Advisors LLC purchased a new stake in shares of Intuit during the second quarter worth approximately $25,000. Cultivar Capital Inc. purchased a new stake in Intuit in the 2nd quarter valued at $26,000. Fairway Wealth LLC acquired a new stake in shares of Intuit in the 2nd quarter worth $26,000. Hobbs Group Advisors LLC purchased a new position in shares of Intuit during the 2nd quarter worth $35,000. Finally, J.Safra Asset Management Corp purchased a new position in shares of Intuit during the 2nd quarter worth $39,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

INTU has been the subject of several recent analyst reports. Stifel Nicolaus raised their price objective on shares of Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Royal Bank of Canada started coverage on shares of Intuit in a report on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 price target for the company. JPMorgan Chase & Co. upped their price objective on Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. BMO Capital Markets raised their target price on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Finally, Jefferies Financial Group upped their price target on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $735.71.

Intuit Trading Up 0.7 %

NASDAQ INTU opened at $613.29 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The firm has a market cap of $171.44 billion, a price-to-earnings ratio of 56.58, a PEG ratio of 3.04 and a beta of 1.24. The firm has a 50 day simple moving average of $630.40 and a 200-day simple moving average of $627.54. Intuit Inc. has a one year low of $473.56 and a one year high of $676.62.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The business had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter last year, the business posted $0.40 EPS. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. Equities research analysts anticipate that Intuit Inc. will post 14.04 EPS for the current fiscal year.

Intuit Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were given a $1.04 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This is an increase from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. Intuit’s dividend payout ratio is currently 38.38%.

Insider Activity

In related news, CFO Sandeep Aujla sold 775 shares of the business’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total transaction of $466,015.25. Following the completion of the transaction, the chief financial officer now owns 4,451 shares in the company, valued at approximately $2,676,430.81. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Laura A. Fennell sold 30,159 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the sale, the executive vice president now owns 52,038 shares of the company’s stock, valued at approximately $33,427,129.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sandeep Aujla sold 775 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total value of $466,015.25. Following the completion of the transaction, the chief financial officer now directly owns 4,451 shares of the company’s stock, valued at $2,676,430.81. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,297 shares of company stock worth $35,220,046. 2.90% of the stock is currently owned by corporate insiders.

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.