Brasada Capital Management LP Raises Stake in Intuit Inc. (NASDAQ:INTU)

Brasada Capital Management LP grew its stake in Intuit Inc. (NASDAQ:INTU) by 1.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Aveo Capital Partners LLC acquired a new position in shares of Intuit during the 4th quarter valued at about $203,000. 9258 Wealth Management LLC boosted its position in shares of Intuit by 29.0% during the 4th quarter. 9258 Wealth Management LLC now owns 650 shares of the software maker’s stock valued at $406,000 after acquiring an additional 146 shares during the last quarter. Gryphon Financial Partners LLC boosted its position in shares of Intuit by 31.6% during the 4th quarter. Gryphon Financial Partners LLC now owns 1,635 shares of the software maker’s stock valued at $1,022,000 after acquiring an additional 393 shares during the last quarter. Jump Financial LLC boosted its position in shares of Intuit by 108.0% during the 4th quarter. Jump Financial LLC now owns 1,562 shares of the software maker’s stock valued at $976,000 after acquiring an additional 811 shares during the last quarter. Finally, First United Bank & Trust acquired a new position in shares of Intuit during the 4th quarter valued at about $46,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

INTU has been the topic of several recent research reports. Barclays lowered their price target on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. Royal Bank of Canada started coverage on shares of Intuit in a research report on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 target price on the stock. Erste Group Bank reaffirmed a “hold” rating on shares of Intuit in a research report on Friday, June 14th. JPMorgan Chase & Co. upped their target price on shares of Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Finally, Wells Fargo & Company upped their target price on shares of Intuit from $725.00 to $750.00 and gave the company an “overweight” rating in a research report on Tuesday, May 21st. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and a consensus price target of $720.37.

Insider Buying and Selling

In related news, EVP Kerry J. Mclean sold 11,079 shares of the company’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 transaction of $6,997,607.19. Following the sale, the executive vice president now directly owns 24,941 shares in the company, valued at $15,752,985.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Kerry J. Mclean sold 11,079 shares of the company’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 transaction of $6,997,607.19. Following the sale, the executive vice president now directly owns 24,941 shares in the company, valued at $15,752,985.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sandeep Aujla sold 1,061 shares of the stock in a transaction that occurred 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 owns 3,333 shares in the company, valued at $2,170,682.91. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,999 shares of company stock worth $8,872,069. Company insiders own 2.90% of the company’s stock.

Intuit Stock Up 1.1 %

Shares of INTU opened at $633.62 on Wednesday. The company’s 50-day simple moving average is $637.49 and its 200-day simple moving average is $631.89. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. Intuit Inc. has a 1 year low of $473.56 and a 1 year high of $676.62. The stock has a market capitalization of $177.60 billion, a PE ratio of 58.45, a P/E/G ratio of 3.00 and a beta of 1.24.

Intuit (NASDAQ:INTU) last released its 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 net margin of 18.19% and a return on equity of 18.64%. The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period in the prior year, the firm earned $0.40 earnings per share. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. Analysts forecast that Intuit Inc. will post 14.06 earnings per share for the current fiscal year.

Intuit Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.66%. This is a positive change from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date is Thursday, October 10th. Intuit’s dividend payout ratio 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.