Glenmede Trust Co. NA Has $9.72 Million Holdings in Intuit Inc. (NASDAQ:INTU)

Glenmede Trust Co. NA boosted its position in shares of Intuit Inc. (NASDAQ:INTU) by 2.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,647 shares of the software maker’s stock after buying an additional 361 shares during the period. Glenmede Trust Co. NA’s holdings in Intuit were worth $9,717,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. LGT Financial Advisors LLC acquired a new position in Intuit during the second quarter valued at approximately $25,000. Cultivar Capital Inc. bought a new position in shares of Intuit in the 2nd quarter valued at $26,000. Fairway Wealth LLC acquired a new position in shares of Intuit during the 2nd quarter worth $26,000. Northwest Investment Counselors LLC bought a new stake in shares of Intuit during the 3rd quarter worth $27,000. Finally, Hobbs Group Advisors LLC acquired a new stake in Intuit in the second quarter valued at about $35,000. 83.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

INTU has been the subject of several research analyst reports. Susquehanna reissued a “positive” rating and set a $757.00 target price on shares of Intuit in a research note on Friday, August 16th. JPMorgan Chase & Co. increased their price objective on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a research note on Friday, November 22nd. Scotiabank started coverage on Intuit in a research note on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price target for the company. Finally, Jefferies Financial Group boosted their price objective on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $737.44.

Insider Buying and Selling at Intuit

In other news, CFO Sandeep Aujla sold 862 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the completion of the sale, the chief financial officer now directly owns 3,840 shares in the company, valued at $2,384,755.20. This trade represents a 18.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Kerry J. Mclean sold 11,079 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total value of $6,997,607.19. Following the transaction, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $15,752,985.01. This trade represents a 30.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 130,265 shares of company stock valued at $83,336,625. 2.90% of the stock is currently owned by company insiders.

Intuit Stock Up 0.9 %

Intuit stock opened at $641.73 on Friday. The firm has a 50 day moving average price of $634.10 and a two-hundred day moving average price of $631.46. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78. The firm has a market cap of $179.71 billion, a price-to-earnings ratio of 62.30, a PEG ratio of 3.14 and a beta of 1.25.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same quarter in the previous year, the business earned $1.14 earnings per share. Intuit’s revenue for the quarter was up 10.2% on a year-over-year basis. Equities analysts predict that Intuit Inc. will post 14.07 EPS for the current year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be issued a $1.04 dividend. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $4.16 dividend on an annualized basis and a yield of 0.65%. Intuit’s payout ratio is currently 40.39%.

Intuit Company 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.