Laurus Investment Counsel Inc. Has $9.78 Million Stock Position in Intuit Inc. (NASDAQ:INTU)

Laurus Investment Counsel Inc. trimmed its stake in Intuit Inc. (NASDAQ:INTU) by 43.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,050 shares of the software maker’s stock after selling 11,605 shares during the period. Intuit accounts for about 4.6% of Laurus Investment Counsel Inc.’s investment portfolio, making the stock its 8th largest position. Laurus Investment Counsel Inc.’s holdings in Intuit were worth $9,782,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Desjardins Global Asset Management Inc. increased its stake in shares of Intuit by 1.4% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 1,181 shares of the software maker’s stock worth $738,000 after purchasing an additional 16 shares during the period. JFS Wealth Advisors LLC increased its position in Intuit by 1.0% in the 4th quarter. JFS Wealth Advisors LLC now owns 1,564 shares of the software maker’s stock worth $978,000 after buying an additional 16 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Intuit by 3.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 449 shares of the software maker’s stock worth $281,000 after buying an additional 16 shares during the last quarter. GAM Holding AG boosted its position in shares of Intuit by 0.3% in the fourth quarter. GAM Holding AG now owns 5,873 shares of the software maker’s stock valued at $3,671,000 after acquiring an additional 17 shares during the period. Finally, Janiczek Wealth Management LLC grew its stake in shares of Intuit by 2.4% in the fourth quarter. Janiczek Wealth Management LLC now owns 716 shares of the software maker’s stock worth $448,000 after acquiring an additional 17 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Trading Up 2.6 %

Shares of INTU stock traded up $16.07 on Friday, hitting $632.15. The stock had a trading volume of 3,682,503 shares, compared to its average volume of 1,346,565. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.32. Intuit Inc. has a twelve month low of $442.74 and a twelve month high of $676.62. The company has a fifty day moving average price of $615.61 and a two-hundred day moving average price of $625.63. The firm has a market cap of $176.72 billion, a P/E ratio of 58.32, a PEG ratio of 3.49 and a beta of 1.21.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, May 23rd. The software maker reported $9.88 earnings per share for the quarter, beating the consensus estimate of $8.12 by $1.76. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The business had revenue of $6.74 billion for the quarter, compared to analysts’ expectations of $6.65 billion. During the same quarter in the previous year, the business posted $7.80 EPS. Intuit’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, analysts forecast that Intuit Inc. will post 11.72 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Wednesday, July 10th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $3.60 annualized dividend and a yield of 0.57%. Intuit’s dividend payout ratio (DPR) is presently 33.21%.

Insider Activity

In other news, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total transaction of $44,838,750.00. Following the completion of the transaction, the insider now directly owns 6,791,469 shares in the company, valued at approximately $4,060,279,741.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Intuit news, insider Scott D. Cook sold 75,000 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $597.85, for a total value of $44,838,750.00. Following the transaction, the insider now directly owns 6,791,469 shares of the company’s stock, valued at approximately $4,060,279,741.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Mark P. Notarainni sold 465 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total value of $281,129.70. Following the sale, the executive vice president now owns 869 shares of the company’s stock, valued at approximately $525,380.02. The disclosure for this sale can be found here. In the last 90 days, insiders sold 193,937 shares of company stock valued at $113,123,232. 2.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

INTU has been the subject of several recent research reports. Oppenheimer upped their price target on Intuit from $678.00 to $712.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Susquehanna reduced their target price on Intuit from $775.00 to $757.00 and set a “positive” rating for the company in a research report on Friday, May 24th. JPMorgan Chase & Co. boosted their price target on shares of Intuit from $560.00 to $585.00 and gave the company a “neutral” rating in a report on Friday, February 23rd. Barclays raised their price objective on shares of Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Finally, StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research note on Monday, May 27th. Five analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $679.41.

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.