Olympiad Research LP Raises Stock Position in Intuit Inc. (NASDAQ:INTU)

Olympiad Research LP boosted its position in shares of Intuit Inc. (NASDAQ:INTU) by 87.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,277 shares of the software maker’s stock after purchasing an additional 597 shares during the period. Olympiad Research LP’s holdings in Intuit were worth $793,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of INTU. International Assets Investment Management LLC raised its stake in Intuit by 68,404.7% during the third quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock worth $300,768,000 after purchasing an additional 483,621 shares during the period. SG Americas Securities LLC raised its stake in Intuit by 940.4% during the first quarter. SG Americas Securities LLC now owns 315,670 shares of the software maker’s stock worth $205,186,000 after purchasing an additional 285,328 shares during the period. Vanguard Group Inc. raised its stake in Intuit by 1.1% during the first quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock worth $16,937,502,000 after purchasing an additional 283,291 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new position in Intuit during the second quarter worth about $184,982,000. Finally, Ameriprise Financial Inc. raised its stake in Intuit by 17.3% during the second quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock worth $1,062,578,000 after purchasing an additional 238,486 shares during the period. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Intuit news, CFO Sandeep Aujla sold 4,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 452 shares in the company, valued at $279,010.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Alex G. Balazs sold 2,941 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total value of $1,849,183.16. Following the completion of the transaction, the executive vice president now owns 20 shares in the company, valued at approximately $12,575.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Sandeep Aujla sold 4,000 shares of the company’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 completion of the transaction, the chief financial officer now 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 disclosure for this sale can be found here. Insiders sold 55,297 shares of company stock worth $35,220,046 in the last 90 days. Corporate insiders own 2.90% of the company’s stock.

Intuit Trading Up 4.8 %

NASDAQ INTU opened at $648.39 on Thursday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. Intuit Inc. has a 52 week low of $506.97 and a 52 week high of $676.62. The stock has a market capitalization of $181.74 billion, a PE ratio of 62.05, a price-to-earnings-growth ratio of 3.03 and a beta of 1.25. The firm has a 50 day moving average of $623.43 and a two-hundred day moving average of $626.96.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $3.08 billion. During the same quarter in the previous year, the business posted $0.40 EPS. The firm’s revenue was up 17.4% on a year-over-year basis. As a group, research analysts expect that Intuit Inc. will post 14.04 EPS for the current fiscal year.

Intuit Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend was Thursday, October 10th. This is a boost from Intuit’s previous quarterly dividend of $0.90. Intuit’s payout ratio is 39.81%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on INTU. Morgan Stanley downgraded shares of Intuit from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $750.00 to $685.00 in a research note on Wednesday, August 14th. Susquehanna reissued a “positive” rating and issued a $757.00 price target on shares of Intuit in a research note on Friday, August 16th. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research note on Monday, September 30th. Stifel Nicolaus boosted their price target on shares of Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Finally, Bank of America boosted their price target on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $735.71.

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.