Natixis Advisors LLC Raises Holdings in Intuit Inc. (NASDAQ:INTU)

Natixis Advisors LLC lifted its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 5.2% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 404,536 shares of the software maker's stock after buying an additional 19,854 shares during the quarter. Natixis Advisors LLC owned about 0.14% of Intuit worth $251,216,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of INTU. Fortitude Family Office LLC raised its stake in Intuit by 2.8% in the second quarter. Fortitude Family Office LLC now owns 582 shares of the software maker's stock valued at $382,000 after purchasing an additional 16 shares in the last quarter. WASHINGTON TRUST Co raised its position in shares of Intuit by 10.5% in the 2nd quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker's stock valued at $110,000 after buying an additional 16 shares in the last quarter. Gemmer Asset Management LLC lifted its holdings in shares of Intuit by 3.7% during the 2nd quarter. Gemmer Asset Management LLC now owns 448 shares of the software maker's stock worth $294,000 after acquiring an additional 16 shares during the period. PFG Investments LLC boosted its position in shares of Intuit by 1.1% during the 2nd quarter. PFG Investments LLC now owns 1,558 shares of the software maker's stock worth $1,024,000 after acquiring an additional 17 shares in the last quarter. Finally, Plancorp LLC raised its position in Intuit by 2.0% during the second quarter. Plancorp LLC now owns 881 shares of the software maker's stock valued at $579,000 after purchasing an additional 17 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on INTU. Bank of America boosted their price target on Intuit from $730.00 to $780.00 and gave the stock a "buy" rating in a report on Friday, August 23rd. Jefferies Financial Group increased their target price on shares of Intuit from $770.00 to $790.00 and gave the stock a "buy" rating in a report on Friday, August 23rd. StockNews.com raised shares of Intuit from a "hold" rating to a "buy" rating in a report on Monday, September 30th. BMO Capital Markets boosted their target price on shares of Intuit from $700.00 to $760.00 and gave the stock an "outperform" rating in a research note on Friday, August 23rd. Finally, Morgan Stanley cut Intuit from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $750.00 to $685.00 in a research note on Wednesday, August 14th. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $739.24.

Intuit Stock Down 1.8 %

INTU stock traded down $12.89 during midday trading on Friday, hitting $687.87. The stock had a trading volume of 1,799,379 shares, compared to its average volume of 1,335,732. 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 business has a 50-day moving average of $633.08 and a two-hundred day moving average of $630.06. The firm has a market cap of $192.80 billion, a price-to-earnings ratio of 65.82, a price-to-earnings-growth ratio of 3.45 and a beta of 1.25. Intuit Inc. has a 52-week low of $552.68 and a 52-week high of $714.78.

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

Intuit Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.60%. The ex-dividend date was Thursday, October 10th. This is an increase from Intuit's previous quarterly dividend of $0.90. Intuit's payout ratio is 39.81%.

Insider Activity at Intuit

In other Intuit news, CFO Sandeep Aujla sold 862 shares of the business's stock in a transaction dated Wednesday, September 4th. The shares were 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 of the company's stock, valued at $2,384,755.20. The trade was a 18.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eve B. Burton sold 2,988 shares of the business's stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $649.87, for a total value of $1,941,811.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,297 shares of company stock valued at $35,220,046. Corporate insiders own 2.90% of the company's stock.

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.