Davidson Capital Management Inc. Acquires 943 Shares of Intuit Inc. (NASDAQ:INTU)

Davidson Capital Management Inc. raised its holdings in Intuit Inc. (NASDAQ:INTU) by 22.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,188 shares of the software maker’s stock after acquiring an additional 943 shares during the period. Intuit comprises about 1.1% of Davidson Capital Management Inc.’s investment portfolio, making the stock its 10th largest holding. Davidson Capital Management Inc.’s holdings in Intuit were worth $3,410,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. LGT Financial Advisors LLC bought a new stake in shares of Intuit in the second quarter valued at about $25,000. Cultivar Capital Inc. acquired a new stake in Intuit in the 2nd quarter valued at approximately $26,000. Fairway Wealth LLC acquired a new position in Intuit during the 2nd quarter worth approximately $26,000. Hobbs Group Advisors LLC bought a new position in shares of Intuit during the 2nd quarter worth approximately $35,000. Finally, Trifecta Capital Advisors LLC raised its holdings in shares of Intuit by 145.8% in the second quarter. Trifecta Capital Advisors LLC now owns 59 shares of the software maker’s stock valued at $39,000 after purchasing an additional 35 shares during the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Stock Up 3.3 %

Shares of INTU opened at $654.24 on Friday. The firm has a market cap of $182.89 billion, a P/E ratio of 60.35, a price-to-earnings-growth ratio of 3.14 and a beta of 1.24. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. Intuit Inc. has a 52 week low of $473.56 and a 52 week high of $676.62. The firm’s 50-day simple moving average is $636.76 and its 200 day simple moving average is $631.46.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share 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%. The firm’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.40 earnings per share. On average, analysts forecast that Intuit Inc. will post 14.06 earnings per share for the current year.

Intuit Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be issued a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.64%. This is an increase from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio (DPR) is currently 38.38%.

Insider Activity

In related news, CFO Sandeep Aujla sold 1,061 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $651.27, for a total transaction of $690,997.47. Following the transaction, the chief financial officer now directly owns 3,333 shares of the company’s stock, valued at $2,170,682.91. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related 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 sale, 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Scott D. Cook sold 2,461 shares of Intuit stock in a transaction 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 transaction, the insider now directly owns 6,453,105 shares of the company’s stock, valued at $4,111,853,974.95. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,389 shares of company stock valued at $14,231,188. 2.90% of the stock is owned by company insiders.

Analyst Ratings Changes

INTU has been the subject of several recent research reports. Bank of America increased their target price on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Royal Bank of Canada assumed coverage on Intuit in a report on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 price objective for the company. Citigroup upped their target price on Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Morgan Stanley downgraded 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 research note on Wednesday, August 14th. Finally, Jefferies Financial Group upped their price objective on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $720.37.

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.