Qsemble Capital Management LP Purchases Shares of 4,977 Intuit Inc. (NASDAQ:INTU)

Qsemble Capital Management LP acquired a new position in Intuit Inc. (NASDAQ:INTU) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 4,977 shares of the software maker’s stock, valued at approximately $3,091,000.

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Susquehanna restated a “positive” rating and issued a $757.00 target price on shares of Intuit in a report on Friday, August 16th. JPMorgan Chase & Co. raised their price objective on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research report on Friday. Oppenheimer upped their target price on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday. BMO Capital Markets raised their price target on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Finally, Barclays dropped their price objective on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Intuit presently has a consensus rating of “Moderate Buy” and a consensus target price of $737.44.

Intuit Price Performance

NASDAQ INTU opened at $634.62 on Tuesday. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78. The company has a fifty day simple moving average of $634.58 and a 200 day simple moving average of $631.24. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a market cap of $177.77 billion, a P/E ratio of 61.61, a P/E/G ratio of 3.13 and a beta of 1.25.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same period in the previous year, the company posted $1.14 earnings per share. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, sell-side analysts predict that Intuit Inc. will post 14.05 EPS for the current year.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be given a $1.04 dividend. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $4.16 annualized dividend and a dividend yield of 0.66%. Intuit’s dividend payout ratio is 40.39%.

Insider Transactions at Intuit

In other Intuit news, EVP Alex G. Balazs sold 2,941 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total value of $1,849,183.16. Following the completion of the sale, the executive vice president now owns 20 shares in the company, valued at approximately $12,575.20. This trade represents a 99.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sandeep Aujla sold 775 shares of the company’s stock in a transaction 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 completion of the transaction, the chief financial officer now owns 4,451 shares of the company’s stock, valued at $2,676,430.81. The trade was a 14.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,265 shares of company stock worth $35,200,125. Insiders own 2.90% of the company’s stock.

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.