Ironwood Financial llc Has $2.69 Million Holdings in Intuit Inc. (NASDAQ:INTU)

Ironwood Financial llc cut its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 1.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,336 shares of the software maker’s stock after selling 76 shares during the period. Ironwood Financial llc’s holdings in Intuit were worth $2,693,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in INTU. Kowal Investment Group LLC grew its position in shares of Intuit by 103.7% in the 3rd quarter. Kowal Investment Group LLC now owns 768 shares of the software maker’s stock valued at $477,000 after purchasing an additional 391 shares during the period. Regent Peak Wealth Advisors LLC boosted its holdings in shares of Intuit by 6.4% in the third quarter. Regent Peak Wealth Advisors LLC now owns 1,232 shares of the software maker’s stock valued at $765,000 after buying an additional 74 shares during the period. Vontobel Holding Ltd. increased its position in shares of Intuit by 4.7% during the third quarter. Vontobel Holding Ltd. now owns 591,914 shares of the software maker’s stock worth $367,579,000 after acquiring an additional 26,495 shares in the last quarter. Sumitomo Life Insurance Co. raised its holdings in shares of Intuit by 1.6% during the third quarter. Sumitomo Life Insurance Co. now owns 8,836 shares of the software maker’s stock worth $5,487,000 after acquiring an additional 137 shares during the period. Finally, SeaCrest Wealth Management LLC lifted its position in Intuit by 4.4% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 687 shares of the software maker’s stock valued at $427,000 after acquiring an additional 29 shares in the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Scott D. Cook sold 2,461 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the completion of the transaction, the insider now directly owns 6,453,105 shares in the company, valued at $4,111,853,974.95. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Scott D. Cook sold 2,461 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the sale, the insider now owns 6,453,105 shares of the company’s stock, valued at $4,111,853,974.95. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 value of $19,372,935.24. Following the completion of the transaction, the executive vice president now directly owns 52,038 shares of the company’s stock, valued at approximately $33,427,129.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,297 shares of company stock worth $35,220,046. Corporate insiders own 2.90% of the company’s stock.

Intuit Stock Performance

Shares of INTU traded up $2.26 during midday trading on Thursday, reaching $611.65. 19,144 shares of the stock were exchanged, compared to its average volume of 1,319,720. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The stock’s 50 day simple moving average is $631.07 and its 200 day simple moving average is $627.85. Intuit Inc. has a twelve month low of $473.56 and a twelve month high of $676.62. The company has a market cap of $170.98 billion, a P/E ratio of 56.22, a PEG ratio of 3.04 and a beta of 1.24.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $3.08 billion. During the same quarter last year, the business earned $0.40 earnings per share. Intuit’s revenue was up 17.4% on a year-over-year basis. On average, sell-side analysts expect that Intuit Inc. will post 14.04 earnings per share for the current year.

Intuit Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be paid a dividend of $1.04 per share. This is an increase from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date is Thursday, October 10th. This represents a $4.16 annualized dividend and a yield of 0.68%. Intuit’s payout ratio is presently 38.38%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on INTU. Citigroup increased their target price on Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Bank of America boosted their target price on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Stifel Nicolaus lifted their price objective on shares of Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Barclays reduced their target price on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a report on Friday, August 23rd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Intuit currently has a consensus 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.