Cim LLC Has $19.91 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Cim LLC trimmed its position in Intuit Inc. (NASDAQ:INTU) by 0.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,034 shares of the software maker’s stock after selling 163 shares during the quarter. Intuit comprises approximately 2.9% of Cim LLC’s holdings, making the stock its 10th biggest position. Cim LLC’s holdings in Intuit were worth $19,909,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in INTU. Fortitude Family Office LLC raised its position in shares of Intuit by 2.8% during the 2nd quarter. Fortitude Family Office LLC now owns 582 shares of the software maker’s stock valued at $382,000 after purchasing an additional 16 shares during the period. WASHINGTON TRUST Co lifted its position in shares of Intuit by 10.5% in the second quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker’s stock valued at $110,000 after acquiring an additional 16 shares in the last quarter. Gemmer Asset Management LLC grew its stake in Intuit by 3.7% during the second quarter. Gemmer Asset Management LLC now owns 448 shares of the software maker’s stock valued at $294,000 after acquiring an additional 16 shares in the last quarter. Capital Advisors Ltd. LLC increased its holdings in Intuit by 2.6% in the 1st quarter. Capital Advisors Ltd. LLC now owns 659 shares of the software maker’s stock valued at $429,000 after acquiring an additional 17 shares during the last quarter. Finally, Stonebrook Private Inc. lifted its stake in Intuit by 4.5% in the 1st quarter. Stonebrook Private Inc. now owns 398 shares of the software maker’s stock worth $259,000 after purchasing an additional 17 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In related news, CFO Sandeep Aujla sold 862 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total value of $535,327.86. Following the completion of the sale, the chief financial officer now owns 3,840 shares of the company’s stock, valued at approximately $2,384,755.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Intuit news, EVP Alex G. Balazs sold 2,941 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total value of $1,849,183.16. Following the transaction, the executive vice president now owns 20 shares in the company, valued at approximately $12,575.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sandeep Aujla sold 862 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total transaction of $535,327.86. Following the sale, the chief financial officer now directly owns 3,840 shares of the company’s stock, valued at approximately $2,384,755.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,522 shares of company stock valued at $32,284,911. Company insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on INTU. Bank of America lifted their target price on 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 began coverage on Intuit in a report on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 price objective on the stock. BMO Capital Markets upped their target price on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research note on Monday. Finally, JPMorgan Chase & Co. upped their price objective on Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $735.71.

Intuit Stock Performance

NASDAQ INTU opened at $606.28 on Wednesday. The firm has a market capitalization of $169.48 billion, a P/E ratio of 55.93, a PEG ratio of 3.13 and a beta of 1.24. The stock has a 50-day simple moving average of $634.00 and a two-hundred day simple moving average of $630.07. 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 fifty-two week low of $473.56 and a fifty-two week high of $676.62.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the prior year, the firm posted $0.40 EPS. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. On average, equities analysts forecast that Intuit Inc. will post 14.07 earnings per share for the current year.

Intuit Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be given 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 yield of 0.69%. This is an increase from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend 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.