Copeland Capital Management LLC Decreases Holdings in Intuit Inc. (NASDAQ:INTU)

Copeland Capital Management LLC trimmed its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 3.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 28,577 shares of the software maker's stock after selling 1,158 shares during the period. Copeland Capital Management LLC's holdings in Intuit were worth $17,746,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in INTU. LGT Financial Advisors LLC purchased a new position in Intuit in the second quarter worth approximately $25,000. Cultivar Capital Inc. purchased a new position in Intuit in the second quarter worth approximately $26,000. Fairway Wealth LLC acquired a new position in Intuit during the second quarter worth $26,000. Northwest Investment Counselors LLC acquired a new position in Intuit during the third quarter worth $27,000. Finally, Hobbs Group Advisors LLC acquired a new position in Intuit during the second quarter worth $35,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Intuit news, CFO Sandeep Aujla sold 4,000 shares of Intuit stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $617.28, for a total value of $2,469,120.00. Following the completion of the sale, the chief financial officer now directly owns 452 shares of the company's stock, valued at approximately $279,010.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Alex G. Balazs sold 2,941 shares of the business's stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the completion of the sale, the executive vice president now directly owns 20 shares of the company's stock, valued at $12,575.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Sandeep Aujla sold 4,000 shares of the business's stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the sale, the chief financial officer now directly owns 452 shares of the company's stock, valued at $279,010.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 55,297 shares of company stock valued at $35,220,046. Company insiders own 2.90% of the company's stock.

Analysts Set New Price Targets

INTU has been the topic of a number of research reports. Barclays decreased their price target on Intuit from $745.00 to $740.00 and set an "overweight" rating on the stock in a research note on Friday, August 23rd. Susquehanna restated a "positive" rating and set a $757.00 price target on shares of Intuit in a research note on Friday, August 16th. Morgan Stanley cut Intuit from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $750.00 to $685.00 in a research note on Wednesday, August 14th. Citigroup increased their price objective on Intuit from $727.00 to $750.00 and gave the company a "buy" rating in a research note on Friday, June 28th. Finally, Royal Bank of Canada started coverage on Intuit in a research note on Wednesday, July 3rd. They issued an "outperform" rating and a $760.00 price target on the stock. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $735.71.

Intuit Price Performance

Shares of INTU stock traded down $4.34 during midday trading on Tuesday, reaching $609.59. 1,088,502 shares of the company traded hands, compared to its average volume of 1,322,675. The firm's 50 day simple moving average is $630.13 and its two-hundred day simple moving average is $627.52. Intuit Inc. has a 1-year low of $473.56 and a 1-year high of $676.62. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a market cap of $170.41 billion, a PE ratio of 55.94, a price-to-earnings-growth ratio of 3.04 and a beta of 1.24.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, beating 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 company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period last year, the firm earned $0.40 EPS. The company's revenue for the quarter was up 17.4% on a year-over-year basis. On average, equities research analysts expect that Intuit Inc. will post 14.04 EPS for the current fiscal year.

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Thursday, October 10th were given a dividend of $1.04 per share. This is an increase from Intuit's previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend was Thursday, October 10th. Intuit's payout ratio is currently 38.38%.

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.