Tandem Investment Advisors Inc. Purchases 76 Shares of Intuit Inc. (NASDAQ:INTU)

Tandem Investment Advisors Inc. grew its position in Intuit Inc. (NASDAQ:INTU) by 20.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 442 shares of the software maker’s stock after purchasing an additional 76 shares during the quarter. Tandem Investment Advisors Inc.’s holdings in Intuit were worth $274,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. LGT Financial Advisors LLC acquired a new position in Intuit in the second quarter valued at $25,000. Cultivar Capital Inc. bought a new position in shares of Intuit in the 2nd quarter worth about $26,000. Fairway Wealth LLC acquired a new position in shares of Intuit in the 2nd quarter valued at about $26,000. Northwest Investment Counselors LLC bought a new stake in shares of Intuit during the 3rd quarter valued at about $27,000. Finally, Hobbs Group Advisors LLC acquired a new stake in Intuit during the second quarter worth approximately $35,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Intuit news, Director Eve B. Burton sold 2,988 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $649.87, for a total value of $1,941,811.56. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Intuit news, EVP Alex G. Balazs sold 2,941 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the completion of the transaction, the executive vice president now directly owns 20 shares of the company’s stock, valued at approximately $12,575.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eve B. Burton sold 2,988 shares of the business’s stock in a transaction 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. Insiders sold a total of 55,297 shares of company stock valued at $35,220,046 over the last three months. Corporate insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

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

Intuit Stock Up 4.0 %

Shares of NASDAQ:INTU opened at $674.15 on Friday. The stock has a market cap of $188.96 billion, a price-to-earnings ratio of 64.51, a PEG ratio of 3.03 and a beta of 1.25. The business’s 50 day moving average is $623.43 and its 200 day moving average is $626.96. Intuit Inc. has a 12-month low of $513.97 and a 12-month high of $676.62. 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 (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. The firm had revenue of $3.18 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.40 EPS. On average, sell-side analysts forecast that Intuit Inc. will post 14.04 earnings per share for the current fiscal year.

Intuit Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend was Thursday, October 10th. This is an increase from Intuit’s previous quarterly dividend of $0.90. Intuit’s payout ratio is presently 39.81%.

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.