Donaldson Capital Management LLC Has $6.59 Million Position in Intuit Inc. (NASDAQ:INTU)

Donaldson Capital Management LLC reduced its stake in shares of Intuit Inc. (NASDAQ:INTUFree Report) by 10.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 10,610 shares of the software maker’s stock after selling 1,211 shares during the quarter. Donaldson Capital Management LLC’s holdings in Intuit were worth $6,589,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Intuit by 1.1% during the first quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock worth $16,937,502,000 after purchasing an additional 283,291 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Intuit by 1.0% during the second quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker’s stock worth $1,538,236,000 after purchasing an additional 23,995 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Intuit by 17.3% during the second quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock worth $1,062,578,000 after purchasing an additional 238,486 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Intuit by 4.2% during the second quarter. Principal Financial Group Inc. now owns 1,407,862 shares of the software maker’s stock worth $925,262,000 after purchasing an additional 56,370 shares during the last quarter. Finally, Capital World Investors grew its holdings in shares of Intuit by 1.0% during the first quarter. Capital World Investors now owns 1,188,779 shares of the software maker’s stock worth $772,706,000 after purchasing an additional 12,068 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Intuit

In related news, insider Scott D. Cook sold 2,461 shares of Intuit stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total value of $1,568,124.59. Following the sale, the insider now owns 6,453,105 shares of the company’s stock, valued at approximately $4,111,853,974.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Sandeep Aujla sold 4,000 shares of Intuit stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $617.28, for a total value of $2,469,120.00. Following the sale, the chief financial officer now owns 452 shares of the company’s stock, valued at approximately $279,010.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Scott D. Cook sold 2,461 shares of Intuit stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total value of $1,568,124.59. Following the completion of the sale, the insider now directly owns 6,453,105 shares in the company, valued at approximately $4,111,853,974.95. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,297 shares of company stock valued at $35,220,046 over the last 90 days. 2.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on INTU shares. JPMorgan Chase & Co. increased their target price on Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Morgan Stanley cut Intuit from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $750.00 to $685.00 in a report on Wednesday, August 14th. Jefferies Financial Group raised their price target on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Stifel Nicolaus raised their price target on Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Finally, Susquehanna reiterated a “positive” rating and issued a $757.00 price target on shares of Intuit in a report on Friday, August 16th. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $735.71.

View Our Latest Stock Analysis on INTU

Intuit Trading Up 1.9 %

NASDAQ INTU opened at $621.74 on Monday. The firm has a market cap of $174.27 billion, a P/E ratio of 59.50, a P/E/G ratio of 2.98 and a beta of 1.25. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The stock’s 50-day moving average is $622.92 and its 200-day moving average is $626.64. Intuit Inc. has a one year low of $489.55 and a one year high of $676.62.

Intuit (NASDAQ:INTUGet Free Report) last released its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. Intuit’s revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.40 earnings per share. Sell-side analysts anticipate that Intuit Inc. will post 14.04 earnings per share for the current fiscal year.

Intuit Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.67%. This is a positive change from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio (DPR) is currently 39.81%.

About Intuit

(Free Report)

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.

Further Reading

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:INTUFree Report).

Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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