Brasada Capital Management LP Increases Position in Intuit Inc. (NASDAQ:INTU)

Brasada Capital Management LP grew its stake in Intuit Inc. (NASDAQ:INTU) by 1.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,999 shares of the software maker’s stock after acquiring an additional 70 shares during the quarter. Brasada Capital Management LP’s holdings in Intuit were worth $3,146,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in INTU. Aveo Capital Partners LLC acquired a new stake in shares of Intuit in the 4th quarter worth $203,000. 9258 Wealth Management LLC boosted its position in shares of Intuit by 29.0% in the 4th quarter. 9258 Wealth Management LLC now owns 650 shares of the software maker’s stock worth $406,000 after purchasing an additional 146 shares in the last quarter. Gryphon Financial Partners LLC boosted its position in shares of Intuit by 31.6% in the 4th quarter. Gryphon Financial Partners LLC now owns 1,635 shares of the software maker’s stock worth $1,022,000 after purchasing an additional 393 shares in the last quarter. Jump Financial LLC boosted its position in shares of Intuit by 108.0% in the 4th quarter. Jump Financial LLC now owns 1,562 shares of the software maker’s stock worth $976,000 after purchasing an additional 811 shares in the last quarter. Finally, First United Bank & Trust acquired a new stake in shares of Intuit in the 4th quarter worth $46,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Stock Performance

Shares of INTU stock opened at $633.62 on Wednesday. The stock has a market cap 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. The business has a 50-day simple moving average of $637.49 and a 200-day simple moving average of $631.89. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. Intuit Inc. has a 52-week low of $473.56 and a 52-week high of $676.62.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.14. The firm had revenue of $3.18 billion during 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%. Intuit’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.40 EPS. On average, equities analysts expect that Intuit Inc. will post 14.06 EPS for the current year.

Intuit Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be given a dividend of $1.04 per share. This is a positive change from Intuit’s previous quarterly dividend of $0.90. 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 0.66%. Intuit’s dividend payout ratio (DPR) is 33.21%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on INTU shares. Jefferies Financial Group raised their price objective on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Citigroup raised their price objective on Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Stifel Nicolaus lifted their price target on Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Barclays lowered their price target on Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a research report on Friday, August 23rd. Finally, UBS Group lifted their price target on Intuit from $625.00 to $670.00 and gave the stock a “neutral” rating in a research report on Monday, May 20th. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and an average target price of $720.37.

Insider Activity at Intuit

In other Intuit news, CFO Sandeep Aujla sold 1,061 shares of the company’s stock in a transaction on Wednesday, July 3rd. The shares were 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 in the company, valued at $2,170,682.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Intuit news, CFO Sandeep Aujla sold 1,061 shares of the business’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 transaction of $690,997.47. Following the completion of the sale, the chief financial officer now directly owns 3,333 shares in the company, valued at approximately $2,170,682.91. The transaction was disclosed in a document filed with the SEC, which is available through this link. 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 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 quarter, insiders have sold 13,999 shares of company stock valued at $8,872,069. 2.90% of the stock is owned by company insiders.

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.