Intuit Inc. (NASDAQ:INTU) Shares Bought by Bank of Montreal Can

Bank of Montreal Can grew its stake in Intuit Inc. (NASDAQ:INTU) by 11.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 403,974 shares of the software maker’s stock after buying an additional 40,837 shares during the quarter. Bank of Montreal Can owned 0.14% of Intuit worth $265,871,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Aveo Capital Partners LLC purchased a new stake in shares of Intuit in the 4th quarter valued at approximately $203,000. 9258 Wealth Management LLC raised its stake in Intuit by 29.0% in the fourth 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 in the last quarter. Gryphon Financial Partners LLC raised its stake in Intuit by 31.6% in the fourth 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 in the last quarter. SageView Advisory Group LLC lifted its holdings in Intuit by 143.1% during the 4th quarter. SageView Advisory Group LLC now owns 1,184 shares of the software maker’s stock worth $767,000 after buying an additional 697 shares during the last quarter. Finally, Hilltop Holdings Inc. boosted its position in shares of Intuit by 4.7% during the 4th quarter. Hilltop Holdings Inc. now owns 2,377 shares of the software maker’s stock worth $1,486,000 after acquiring an additional 107 shares in the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on INTU. Morgan Stanley cut Intuit from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $750.00 to $685.00 in a research note on Wednesday, August 14th. JPMorgan Chase & Co. upped their target price on shares of Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. BMO Capital Markets lifted their price target on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Citigroup boosted their price target on shares of Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Finally, Erste Group Bank reaffirmed a “hold” rating on shares of Intuit in a report on Friday, June 14th. Six equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $720.37.

Insiders Place Their Bets

In other news, CFO Sandeep Aujla sold 1,061 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 3,333 shares of the company’s stock, valued at approximately $2,170,682.91. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related 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 transaction, the chief financial officer now owns 3,333 shares of the company’s stock, valued at $2,170,682.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark P. Notarainni sold 965 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $651.00, for a total value of $628,215.00. Following the completion of the transaction, the executive vice president now owns 1,020 shares of the company’s stock, valued at approximately $664,020. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,389 shares of company stock worth $14,231,188. Company insiders own 2.90% of the company’s stock.

Intuit Price Performance

Intuit stock opened at $644.99 on Monday. 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 business has a 50 day simple moving average of $636.82 and a 200-day simple moving average of $631.11. Intuit Inc. has a 12 month low of $473.56 and a 12 month high of $676.62. The stock has a market capitalization of $180.31 billion, a PE ratio of 59.50, a price-to-earnings-growth ratio of 3.14 and a beta of 1.24.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. Intuit’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.40 EPS. Equities analysts predict that Intuit Inc. will post 14.06 earnings per share for the current year.

Intuit Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date is Thursday, October 10th. This is a positive change from Intuit’s previous quarterly dividend of $0.90. Intuit’s payout ratio is currently 38.38%.

Intuit Company 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.