Intuit Inc. (NASDAQ:INTU) Shares Sold by Vaughan Nelson Investment Management L.P.

Vaughan Nelson Investment Management L.P. trimmed its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 1.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 276,830 shares of the software maker's stock after selling 4,635 shares during the quarter. Intuit comprises approximately 1.5% of Vaughan Nelson Investment Management L.P.'s holdings, making the stock its 14th biggest position. Vaughan Nelson Investment Management L.P. owned about 0.10% of Intuit worth $171,912,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Turtle Creek Wealth Advisors LLC raised its position in shares of Intuit by 3.4% during the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 9,758 shares of the software maker's stock valued at $6,060,000 after purchasing an additional 325 shares during the period. Comgest Global Investors S.A.S. raised its holdings in Intuit by 2.6% during the third quarter. Comgest Global Investors S.A.S. now owns 549,641 shares of the software maker's stock valued at $341,327,000 after acquiring an additional 13,794 shares during the period. Natixis Advisors LLC lifted its position in shares of Intuit by 5.2% in the third quarter. Natixis Advisors LLC now owns 404,536 shares of the software maker's stock valued at $251,216,000 after acquiring an additional 19,854 shares in the last quarter. Mizuho Securities USA LLC boosted its stake in shares of Intuit by 6.6% in the third quarter. Mizuho Securities USA LLC now owns 23,001 shares of the software maker's stock worth $14,284,000 after acquiring an additional 1,414 shares during the period. Finally, Empirical Finance LLC grew its position in shares of Intuit by 2.3% during the third quarter. Empirical Finance LLC now owns 9,604 shares of the software maker's stock worth $5,964,000 after purchasing an additional 214 shares in the last quarter. Institutional investors own 83.66% of the company's stock.

Insider Activity at Intuit

In related news, insider Scott D. Cook sold 2,461 shares of Intuit stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total value of $1,568,124.59. Following the completion of the transaction, the insider now owns 6,453,105 shares in the company, valued at $4,111,853,974.95. The trade was a 0.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sandeep Aujla sold 775 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 4,451 shares in the company, valued at $2,676,430.81. This trade represents a 14.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,297 shares of company stock valued at $35,220,046 over the last quarter. 2.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. JPMorgan Chase & Co. upped their price target on Intuit from $585.00 to $600.00 and gave the stock a "neutral" rating in a research note on Friday, August 23rd. StockNews.com upgraded shares of Intuit from a "hold" rating to a "buy" rating in a research report on Monday, September 30th. Jefferies Financial Group lifted their price target on shares of Intuit from $770.00 to $790.00 and gave the company a "buy" rating in a report on Friday, August 23rd. Barclays increased their price objective on shares of Intuit from $740.00 to $800.00 and gave the company an "overweight" rating in a report on Friday. Finally, BMO Capital Markets raised their price objective on Intuit from $700.00 to $760.00 and gave the company an "outperform" rating in a research report on Friday, August 23rd. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Intuit presently has an average rating of "Moderate Buy" and an average price target of $739.24.

Intuit Trading Down 1.8 %

Intuit stock traded down $12.89 during trading hours on Friday, hitting $687.87. The company had a trading volume of 1,799,379 shares, compared to its average volume of 1,417,747. The firm has a market cap of $192.80 billion, a P/E ratio of 65.82, a P/E/G ratio of 3.36 and a beta of 1.25. The company has a 50-day moving average price of $633.08 and a two-hundred day moving average price of $630.09. Intuit Inc. has a 1 year low of $552.68 and a 1 year high of $714.78. 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 (NASDAQ:INTU - Get Free Report) last released its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share 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 firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the previous year, the company posted $0.40 earnings per share. The firm's quarterly revenue was up 17.4% on a year-over-year basis. On average, sell-side analysts anticipate that Intuit Inc. will post 14.05 earnings per share for the current year.

Intuit Increases Dividend

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

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.