Intuit Inc. (INTU) Stake Cut by Chicago Equity Partners LLC

Intuit Inc. (INTU) Stake Cut by Chicago Equity Partners LLC

Chicago Equity Partners LLC lessened its holdings in Intuit Inc. (NASDAQ:INTU) by 16.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,600 shares of the software maker’s stock after selling 5,820 shares during the period. Chicago Equity Partners LLC’s holdings in Intuit were worth $5,827,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Securian Asset Management Inc boosted its stake in shares of Intuit by 6.2% during the third quarter. Securian Asset Management Inc now owns 26,699 shares of the software maker’s stock valued at $6,071,000 after purchasing an additional 1,562 shares in the last quarter. Coastline Trust Co lifted its stake in shares of Intuit by 6.7% in the fourth quarter. Coastline Trust Co now owns 3,180 shares of the software maker’s stock worth $626,000 after acquiring an additional 200 shares during the period. Oakworth Capital Inc. lifted its stake in shares of Intuit by 2,480.0% in the third quarter. Oakworth Capital Inc. now owns 516 shares of the software maker’s stock worth $117,000 after acquiring an additional 496 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Intuit by 3.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 131,409 shares of the software maker’s stock worth $25,868,000 after acquiring an additional 4,038 shares during the period. Finally, Parkside Financial Bank & Trust lifted its stake in shares of Intuit by 16.6% in the fourth quarter. Parkside Financial Bank & Trust now owns 394 shares of the software maker’s stock worth $77,000 after acquiring an additional 56 shares during the period. Hedge funds and other institutional investors own 94.01% of the company’s stock.

A number of equities analysts recently commented on the company. Argus cut their price objective on Intuit from $265.00 to $245.00 and set a “buy” rating on the stock in a research note on Wednesday, November 21st. Royal Bank of Canada raised Intuit from a “sector perform” rating to an “outperform” rating and set a $93.00 price objective on the stock in a research note on Monday, November 26th. KeyCorp assumed coverage on Intuit in a research note on Tuesday, December 18th. They issued an “overweight” rating and a $250.00 price objective on the stock. Morgan Stanley raised Intuit from an “underweight” rating to an “equal weight” rating and set a $225.00 price objective on the stock in a research note on Monday, February 4th. Finally, BidaskClub raised Intuit from a “hold” rating to a “buy” rating in a research note on Saturday, December 1st. Two analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. Intuit currently has an average rating of “Buy” and a consensus price target of $225.63.

In other news, Chairman Scott D. Cook sold 76,001 shares of the business’s stock in a transaction that occurred on Wednesday, November 21st. The stock was sold at an average price of $198.33, for a total transaction of $15,073,278.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Sasan K. Goodarzi sold 85,835 shares of the business’s stock in a transaction that occurred on Wednesday, November 21st. The shares were sold at an average price of $196.74, for a total value of $16,887,177.90. Following the sale, the executive vice president now owns 90,837 shares of the company’s stock, valued at approximately $17,871,271.38. The disclosure for this sale can be found here. Over the last three months, insiders sold 347,207 shares of company stock worth $68,710,900. Insiders own 4.60% of the company’s stock.

Shares of INTU opened at $224.83 on Monday. Intuit Inc. has a 52-week low of $150.43 and a 52-week high of $231.84. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $58.35 billion, a price-to-earnings ratio of 49.63, a price-to-earnings-growth ratio of 2.62 and a beta of 1.16.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Monday, November 19th. The software maker reported $0.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.18. Intuit had a return on equity of 56.35% and a net margin of 20.71%. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $971.45 million. During the same period in the previous year, the firm earned $0.11 earnings per share. The company’s revenue was up 11.6% compared to the same quarter last year. Equities analysts predict that Intuit Inc. will post 5.26 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, January 18th. Shareholders of record on Thursday, January 10th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 0.84%. The ex-dividend date was Wednesday, January 9th. Intuit’s dividend payout ratio (DPR) is presently 41.50%.

About Intuit

Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.

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