SG Americas Securities LLC Has $5.74 Million Stake in Intuit Inc. (NASDAQ:INTU)

SG Americas Securities LLC decreased its position in Intuit Inc. (NASDAQ:INTU) by 69.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,600 shares of the software maker’s stock after selling 49,171 shares during the quarter. SG Americas Securities LLC’s holdings in Intuit were worth $5,744,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in INTU. West Oak Capital LLC bought a new position in Intuit during the third quarter worth about $27,000. Manchester Financial Inc. bought a new position in Intuit during the second quarter worth about $30,000. FNY Investment Advisers LLC bought a new position in Intuit during the second quarter worth about $30,000. Cerebellum GP LLC bought a new position in Intuit during the third quarter worth about $32,000. Finally, NewSquare Capital LLC bought a new position in Intuit during the second quarter worth about $42,000. 87.20% of the stock is currently owned by hedge funds and other institutional investors.

INTU has been the subject of a number of research analyst reports. KeyCorp lifted their price target on Intuit from $300.00 to $305.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Argus set a $325.00 price target on Intuit and gave the stock a “buy” rating in a report on Monday, August 26th. ValuEngine cut Intuit from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Barclays lifted their price target on Intuit from $245.00 to $276.00 and gave the stock an “equal weight” rating in a report on Friday, August 23rd. Finally, Stifel Nicolaus lifted their price target on Intuit from $290.00 to $315.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Six equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $278.21.

Shares of NASDAQ:INTU traded down $2.50 during trading on Friday, reaching $256.85. 1,357,200 shares of the stock were exchanged, compared to its average volume of 1,389,052. The firm has a market cap of $65.84 billion, a PE ratio of 46.03, a PEG ratio of 2.47 and a beta of 1.10. Intuit Inc. has a 12 month low of $182.61 and a 12 month high of $295.77. The stock has a 50-day moving average price of $262.77 and a 200-day moving average price of $264.79. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.10.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported ($0.09) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.46) by $0.37. The business had revenue of $994.00 million during the quarter, compared to the consensus estimate of $964.02 million. Intuit had a return on equity of 43.86% and a net margin of 22.95%. Intuit’s quarterly revenue was up 15.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 earnings per share. On average, sell-side analysts expect that Intuit Inc. will post 6.3 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $2.12 dividend on an annualized basis and a yield of 0.83%. This is a boost from Intuit’s previous quarterly dividend of $0.47. Intuit’s dividend payout ratio is 37.99%.

In other Intuit news, CAO Mark J. Flournoy sold 6,854 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $286.33, for a total transaction of $1,962,505.82. Following the sale, the chief accounting officer now owns 4,541 shares of the company’s stock, valued at $1,300,224.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gregory N. Johnson sold 2,500 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $290.74, for a total transaction of $726,850.00. Following the sale, the executive vice president now directly owns 11,625 shares in the company, valued at approximately $3,379,852.50. The disclosure for this sale can be found here. Insiders have sold 285,279 shares of company stock worth $68,553,645 in the last ninety days. Insiders own 4.60% of the company’s stock.

Intuit Company Profile

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.

Further Reading: Float

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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