Financial Counselors Inc. Has $2.56 Million Position in Intuit Inc. (NASDAQ:INTU)

Financial Counselors Inc. reduced its position in Intuit Inc. (NASDAQ:INTU) by 9.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,546 shares of the software maker’s stock after selling 1,352 shares during the period. Financial Counselors Inc.’s holdings in Intuit were worth $2,563,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Global Financial Private Capital LLC increased its position in Intuit by 7.8% in the 2nd quarter. Global Financial Private Capital LLC now owns 3,725 shares of the software maker’s stock worth $761,000 after purchasing an additional 271 shares during the last quarter. Creative Planning increased its position in Intuit by 3.1% in the 2nd quarter. Creative Planning now owns 9,185 shares of the software maker’s stock worth $1,877,000 after purchasing an additional 275 shares during the last quarter. Traynor Capital Management Inc. increased its position in Intuit by 20.4% in the 1st quarter. Traynor Capital Management Inc. now owns 1,659 shares of the software maker’s stock worth $287,000 after purchasing an additional 281 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its position in Intuit by 0.8% in the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 38,202 shares of the software maker’s stock worth $6,622,000 after purchasing an additional 300 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC increased its position in Intuit by 5.8% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 5,510 shares of the software maker’s stock worth $955,000 after purchasing an additional 300 shares during the last quarter. 87.73% of the stock is currently owned by institutional investors.

NASDAQ:INTU traded up $0.84 during mid-day trading on Friday, hitting $219.47. 1,337,400 shares of the company’s stock traded hands, compared to its average volume of 1,414,022. Intuit Inc. has a 12 month low of $136.75 and a 12 month high of $219.78. The company has a market cap of $55.41 billion, a price-to-earnings ratio of 48.45, a PEG ratio of 2.57 and a beta of 1.18. The company has a quick ratio of 1.05, a current ratio of 1.14 and a debt-to-equity ratio of 0.16.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, August 23rd. The software maker reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.09. Intuit had a return on equity of 67.39% and a net margin of 20.31%. The firm had revenue of $988.00 million during the quarter, compared to the consensus estimate of $952.67 million. During the same quarter in the prior year, the company earned $0.20 EPS. The firm’s revenue for the quarter was up 17.3% compared to the same quarter last year. analysts anticipate that Intuit Inc. will post 5.24 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 18th. Investors of record on Wednesday, October 10th will be paid a dividend of $0.47 per share. This is an increase from Intuit’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Tuesday, October 9th. This represents a $1.88 annualized dividend and a yield of 0.86%. Intuit’s dividend payout ratio is presently 34.44%.

In other Intuit news, Chairman Scott D. Cook sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 6th. The stock was sold at an average price of $208.12, for a total value of $20,812,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Dennis D. Powell sold 4,554 shares of the firm’s stock in a transaction that occurred on Tuesday, August 28th. The stock was sold at an average price of $215.05, for a total value of $979,337.70. Following the completion of the sale, the director now owns 4,083 shares of the company’s stock, valued at approximately $878,049.15. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 349,183 shares of company stock valued at $73,374,230. 5.59% of the stock is owned by corporate insiders.

A number of brokerages have recently commented on INTU. Oppenheimer increased their price objective on Intuit from $181.00 to $206.00 and gave the company an “outperform” rating in a report on Wednesday, May 23rd. Barclays reissued a “hold” rating and set a $190.00 price objective on shares of Intuit in a report on Sunday, May 20th. Zacks Investment Research raised Intuit from a “hold” rating to a “buy” rating and set a $243.00 price objective on the stock in a report on Tuesday. Citigroup increased their price objective on Intuit from $221.00 to $224.00 and gave the company an “outperform” rating in a report on Friday, August 24th. Finally, JPMorgan Chase & Co. increased their price objective on Intuit from $176.00 to $185.00 and gave the company a “neutral” rating in a report on Wednesday, May 23rd. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $212.39.

Intuit Company Profile

Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States and internationally. The company's Small Business segment provides small business payroll products and services, including QuickBooks Desktop software products, such as Desktop Pro, Desktop for Mac, Desktop Premier, and Enterprise; QuickBooks Basic Payroll and QuickBooks Enhanced Payroll; QuickBooks Point of Sale solutions; ProAdvisor Program memberships for accounting professionals; and financial supplies.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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