Caprock Group LLC Buys 2,332 Shares of Intuit Inc. (NASDAQ:INTU)

Caprock Group LLC grew its stake in shares of Intuit Inc. (NASDAQ:INTU) by 49.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,047 shares of the software maker’s stock after acquiring an additional 2,332 shares during the period. Caprock Group LLC’s holdings in Intuit were worth $4,631,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. LGT Financial Advisors LLC purchased a new position in Intuit during the 2nd quarter worth $25,000. Cultivar Capital Inc. purchased a new position in shares of Intuit during the second quarter valued at $26,000. West Branch Capital LLC raised its holdings in shares of Intuit by 79.2% in the first quarter. West Branch Capital LLC now owns 43 shares of the software maker’s stock valued at $28,000 after acquiring an additional 19 shares in the last quarter. Hobbs Group Advisors LLC purchased a new stake in Intuit in the second quarter worth about $35,000. Finally, Sachetta LLC bought a new position in Intuit during the 4th quarter worth about $39,000. Institutional investors own 83.66% of the company’s stock.

Intuit Trading Down 1.0 %

NASDAQ:INTU opened at $615.12 on Friday. The company has a market capitalization of $171.95 billion, a P/E ratio of 56.75, a PEG ratio of 3.08 and a beta of 1.24. The company has a current ratio of 1.29, a quick ratio of 1.50 and a debt-to-equity ratio of 0.30. Intuit Inc. has a 12 month low of $473.56 and a 12 month high of $676.62. The firm has a fifty day simple moving average of $638.42 and a 200-day simple moving average of $632.34.

Intuit (NASDAQ:INTU) last issued 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 during the quarter, compared to analysts’ expectations of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The firm’s revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.40 EPS. On average, equities research analysts anticipate that Intuit Inc. will post 14.06 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. Investors of record on Thursday, October 10th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.68%. The ex-dividend date is Thursday, October 10th. This is an increase from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio is 38.38%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Jefferies Financial Group boosted their price target on shares of Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a report on Friday, August 23rd. UBS Group boosted their price objective on shares of Intuit from $625.00 to $670.00 and gave the stock a “neutral” rating in a research note on Monday, May 20th. Morgan Stanley cut Intuit from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $750.00 to $685.00 in a research report on Wednesday, August 14th. Susquehanna reiterated a “positive” rating and issued a $757.00 price target on shares of Intuit in a report on Friday, August 16th. Finally, Royal Bank of Canada initiated coverage on Intuit in a research note on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 price objective for the company. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $720.37.

Insiders Place Their Bets

In other news, CFO Sandeep Aujla sold 862 shares of the company’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 sale, the chief financial officer now directly owns 3,840 shares of the company’s stock, valued at approximately $2,384,755.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Intuit news, CFO Sandeep Aujla sold 862 shares of Intuit stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total transaction of $535,327.86. Following the completion of the transaction, the chief financial officer now owns 3,840 shares in the company, valued at approximately $2,384,755.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kerry J. Mclean sold 11,079 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total value of $6,997,607.19. Following the completion of the sale, the executive vice president now owns 24,941 shares in the company, valued at approximately $15,752,985.01. The disclosure for this sale can be found here. In the last ninety days, insiders sold 116,308 shares of company stock valued at $67,651,926. 2.90% of the stock is owned by insiders.

About Intuit

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.