Intuit Inc. (NASDAQ:INTU) Shares Sold by ClariVest Asset Management LLC

ClariVest Asset Management LLC trimmed its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 1.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,986 shares of the software maker’s stock after selling 53 shares during the period. ClariVest Asset Management LLC’s holdings in Intuit were worth $2,620,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. LGT Financial Advisors LLC acquired a new position in shares of Intuit during the second quarter valued at $25,000. Cultivar Capital Inc. acquired a new position in Intuit during the second quarter worth about $26,000. Hobbs Group Advisors LLC acquired a new position in Intuit during the second quarter worth about $35,000. Sachetta LLC acquired a new position in Intuit during the fourth quarter worth about $39,000. Finally, J.Safra Asset Management Corp acquired a new position in Intuit during the second quarter worth about $39,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Intuit

In related news, CFO Sandeep Aujla sold 1,061 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $651.27, for a total value of $690,997.47. Following 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 Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Sandeep Aujla sold 1,061 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $651.27, for a total value of $690,997.47. Following 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kerry J. Mclean sold 11,079 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total value of $6,997,607.19. Following the completion of the transaction, the executive vice president now directly owns 24,941 shares in the company, valued at $15,752,985.01. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,999 shares of company stock valued at $8,872,069. Corporate insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on INTU shares. KeyCorp lifted their target price on Intuit from $720.00 to $740.00 and gave the stock an “overweight” rating in a report on Monday, May 20th. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a report on Saturday, August 31st. BMO Capital Markets lifted their target price on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Citigroup lifted 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. Finally, Wells Fargo & Company increased their price target on Intuit from $725.00 to $750.00 and gave the company an “overweight” rating in a research report on Tuesday, May 21st. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $720.37.

Intuit Stock Up 1.1 %

INTU opened at $633.62 on Wednesday. Intuit Inc. has a fifty-two week low of $473.56 and a fifty-two week high of $676.62. The business has a 50-day moving average of $637.49 and a 200-day moving average of $631.89. 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 company has a market capitalization of $177.60 billion, a PE ratio of 58.45, a price-to-earnings-growth ratio of 3.00 and a beta of 1.24.

Intuit (NASDAQ:INTU) last posted its quarterly 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. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period last year, the business earned $0.40 EPS. The business’s quarterly revenue was up 17.4% on a year-over-year basis. Equities research analysts forecast that Intuit Inc. will post 14.06 EPS for the current fiscal year.

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.66%. This is an increase from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Thursday, October 10th. Intuit’s dividend payout ratio (DPR) is presently 33.21%.

Intuit 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.