Handelsinvest Investeringsforvaltning Sells 404 Shares of Intuit Inc. (NASDAQ:INTU)

Handelsinvest Investeringsforvaltning lessened its position in Intuit Inc. (NASDAQ:INTU) by 15.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,232 shares of the software maker’s stock after selling 404 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in Intuit were worth $1,451,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of INTU. Glenmede Trust Co. NA boosted its holdings in Intuit by 12.7% during the 3rd quarter. Glenmede Trust Co. NA now owns 18,397 shares of the software maker’s stock valued at $9,400,000 after acquiring an additional 2,074 shares during the period. Advisors Asset Management Inc. increased its holdings in shares of Intuit by 31.9% during the third quarter. Advisors Asset Management Inc. now owns 13,179 shares of the software maker’s stock valued at $6,734,000 after acquiring an additional 3,185 shares in the last quarter. Axxcess Wealth Management LLC raised its position in shares of Intuit by 53.1% in the 3rd quarter. Axxcess Wealth Management LLC now owns 10,334 shares of the software maker’s stock worth $5,280,000 after purchasing an additional 3,586 shares during the last quarter. AXQ Capital LP purchased a new stake in Intuit during the 3rd quarter valued at about $1,073,000. Finally, Adage Capital Partners GP L.L.C. increased its stake in Intuit by 13.9% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 318,400 shares of the software maker’s stock valued at $162,683,000 after purchasing an additional 38,900 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Intuit

In related news, insider Scott D. Cook sold 27,309 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $593.16, for a total value of $16,198,606.44. Following the sale, the insider now directly owns 6,524,412 shares of the company’s stock, valued at approximately $3,870,020,221.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Scott D. Cook sold 27,309 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $593.16, for a total value of $16,198,606.44. Following the completion of the sale, the insider now owns 6,524,412 shares in the company, valued at approximately $3,870,020,221.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Mark P. Notarainni sold 465 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total value of $281,129.70. Following the sale, the executive vice president now directly owns 869 shares in the company, valued at approximately $525,380.02. The disclosure for this sale can be found here. In the last quarter, insiders sold 193,937 shares of company stock worth $113,123,232. 2.90% of the stock is currently owned by insiders.

Intuit Price Performance

INTU stock opened at $657.01 on Wednesday. The company has a fifty day simple moving average of $619.43 and a two-hundred day simple moving average of $628.63. Intuit Inc. has a 52 week low of $444.19 and a 52 week high of $676.62. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $183.67 billion, a P/E ratio of 60.54, a price-to-earnings-growth ratio of 3.76 and a beta of 1.23.

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

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Wednesday, July 10th will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Wednesday, July 10th. Intuit’s dividend payout ratio is currently 33.21%.

Analyst Ratings Changes

Several research firms recently issued reports on INTU. Royal Bank of Canada started coverage on Intuit in a research report on Wednesday. They issued an “outperform” rating and a $760.00 price objective on the stock. Jefferies Financial Group reaffirmed a “buy” rating and set a $770.00 price objective on shares of Intuit in a research report on Thursday, June 13th. BMO Capital Markets restated an “outperform” rating and set a $700.00 target price on shares of Intuit in a research note on Tuesday, March 26th. Morgan Stanley lifted their price target on shares of Intuit from $680.00 to $740.00 and gave the stock an “overweight” rating in a research note on Monday, May 13th. Finally, StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a research report on Monday, May 27th. Five equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $687.22.

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.