Jackson Creek Investment Advisors LLC Takes Position in Intuit Inc. (NASDAQ:INTU)

Jackson Creek Investment Advisors LLC bought a new position in shares of Intuit Inc. (NASDAQ:INTU) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 597 shares of the software maker’s stock, valued at approximately $392,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. JFS Wealth Advisors LLC raised its position in shares of Intuit by 1.0% in the 4th quarter. JFS Wealth Advisors LLC now owns 1,564 shares of the software maker’s stock worth $978,000 after acquiring an additional 16 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Intuit by 3.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 449 shares of the software maker’s stock valued at $281,000 after buying an additional 16 shares during the period. Fortitude Family Office LLC boosted its holdings in shares of Intuit by 2.8% during the 2nd quarter. Fortitude Family Office LLC now owns 582 shares of the software maker’s stock worth $382,000 after buying an additional 16 shares in the last quarter. WASHINGTON TRUST Co boosted its holdings in shares of Intuit by 10.5% during the 2nd quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker’s stock worth $110,000 after buying an additional 16 shares in the last quarter. Finally, Gemmer Asset Management LLC grew its position in shares of Intuit by 3.7% during the 2nd quarter. Gemmer Asset Management LLC now owns 448 shares of the software maker’s stock worth $294,000 after buying an additional 16 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on INTU shares. Erste Group Bank reissued a “hold” rating on shares of Intuit in a research note on Friday, June 14th. Royal Bank of Canada assumed coverage on Intuit in a research note on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 target price for the company. BMO Capital Markets upped their price target on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Morgan Stanley cut Intuit from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $750.00 to $685.00 in a research note on Wednesday, August 14th. Finally, Bank of America upped their target price on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Intuit has an average rating of “Moderate Buy” and an average target price of $716.35.

Intuit Stock Down 0.3 %

INTU stock opened at $623.10 on Thursday. The stock has a market cap of $174.19 billion, a P/E ratio of 57.48, a P/E/G ratio of 3.08 and a beta of 1.23. The company has a current ratio of 1.29, a quick ratio of 1.50 and a debt-to-equity ratio of 0.30. The stock’s fifty day simple moving average is $639.86 and its two-hundred day simple moving average is $632.79. Intuit Inc. has a 1-year low of $473.56 and a 1-year high of $676.62.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.14. The company had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.40 earnings per share. Analysts expect that Intuit Inc. will post 14.06 EPS for the current year.

Intuit Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.67%. This is a positive change from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Thursday, October 10th. Intuit’s dividend payout ratio is 38.38%.

Insider Buying and Selling at Intuit

In other news, insider Scott D. Cook sold 75,000 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $567.75, for a total transaction of $42,581,250.00. Following the completion of the transaction, the insider now owns 6,626,721 shares in the company, valued at approximately $3,762,320,847.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Intuit news, EVP Kerry J. Mclean sold 11,079 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the sale, the executive vice president now owns 24,941 shares of the company’s stock, valued at approximately $15,752,985.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $567.75, for a total value of $42,581,250.00. Following the sale, the insider now owns 6,626,721 shares in the company, valued at approximately $3,762,320,847.75. The disclosure for this sale can be found here. Insiders have sold a total of 116,308 shares of company stock worth $67,651,926 over the last ninety days. 2.90% of the stock is currently owned by company insiders.

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.