Sapient Capital LLC Increases Holdings in Intuit Inc. (NASDAQ:INTU)

Sapient Capital LLC increased its position in Intuit Inc. (NASDAQ:INTU) by 4.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,942 shares of the software maker’s stock after acquiring an additional 1,589 shares during the period. Sapient Capital LLC’s holdings in Intuit were worth $24,183,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Fortitude Family Office LLC grew its holdings in Intuit by 2.8% during the second quarter. Fortitude Family Office LLC now owns 582 shares of the software maker’s stock worth $382,000 after acquiring an additional 16 shares during the period. WASHINGTON TRUST Co grew its stake in shares of Intuit by 10.5% in the 2nd quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker’s stock worth $110,000 after purchasing an additional 16 shares during the last quarter. Gemmer Asset Management LLC raised its holdings in shares of Intuit by 3.7% in the 2nd quarter. Gemmer Asset Management LLC now owns 448 shares of the software maker’s stock worth $294,000 after purchasing an additional 16 shares in the last quarter. Capital Advisors Ltd. LLC lifted its stake in Intuit by 2.6% during the first quarter. Capital Advisors Ltd. LLC now owns 659 shares of the software maker’s stock valued at $429,000 after purchasing an additional 17 shares during the last quarter. Finally, Stonebrook Private Inc. lifted its stake in Intuit by 4.5% during the first quarter. Stonebrook Private Inc. now owns 398 shares of the software maker’s stock valued at $259,000 after purchasing an additional 17 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Stock Performance

Shares of NASDAQ INTU opened at $618.59 on Monday. The business’s 50-day simple moving average is $630.68 and its 200-day simple moving average is $628.44. 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 52 week low of $473.56 and a 52 week high of $676.62. The firm has a market cap of $172.92 billion, a price-to-earnings ratio of 56.89, a P/E/G ratio of 3.04 and a beta of 1.24.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating the consensus estimate of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The company had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter last year, the company posted $0.40 earnings per share. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. As a group, equities research analysts expect that Intuit Inc. will post 14.04 earnings per share for the current fiscal year.

Intuit Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.67%. The ex-dividend date is Thursday, October 10th. This is a boost from Intuit’s previous quarterly dividend of $0.90. Intuit’s payout ratio is currently 38.38%.

Insider Activity

In related news, EVP Laura A. Fennell sold 30,159 shares of Intuit stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the sale, the executive vice president now directly owns 52,038 shares of the company’s stock, valued at $33,427,129.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Sandeep Aujla sold 775 shares of the business’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total value of $466,015.25. Following the sale, the chief financial officer now owns 4,451 shares in the company, valued at approximately $2,676,430.81. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Laura A. Fennell sold 30,159 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the sale, the executive vice president now directly owns 52,038 shares in the company, valued at $33,427,129.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,297 shares of company stock valued at $35,220,046. 2.90% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have issued reports on INTU. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a report on Monday, September 30th. Morgan Stanley downgraded Intuit from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $750.00 to $685.00 in a report on Wednesday, August 14th. Citigroup lifted their price target on Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Stifel Nicolaus upped their price objective on shares of Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Finally, Royal Bank of Canada assumed coverage on shares of Intuit in a report on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 target price for the company. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $735.71.

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.