K.J. Harrison & Partners Inc Acquires New Holdings in Intuit Inc. (NASDAQ:INTU)

K.J. Harrison & Partners Inc bought a new position in Intuit Inc. (NASDAQ:INTU) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 500 shares of the software maker’s stock, valued at approximately $313,000.

Other large investors also recently made changes to their positions in the company. MCF Advisors LLC raised its holdings in Intuit by 119.0% during the fourth quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock worth $29,000 after purchasing an additional 25 shares in the last quarter. NewSquare Capital LLC bought a new position in Intuit during the third quarter valued at about $25,000. Cape Investment Advisory Inc. bought a new position in Intuit during the third quarter valued at about $26,000. Steward Financial Group LLC grew its holdings in Intuit by 50.0% during the third quarter. Steward Financial Group LLC now owns 60 shares of the software maker’s stock worth $30,000 after acquiring an additional 20 shares during the period. Finally, Wetzel Investment Advisors Inc. bought a new stake in Intuit in the fourth quarter worth about $38,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other Intuit news, CAO Lauren D. Hotz sold 745 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $655.13, for a total transaction of $488,071.85. Following the completion of the sale, the chief accounting officer now directly owns 3,180 shares in the company, valued at $2,083,313.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Intuit news, EVP Alex G. Balazs sold 280 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Lauren D. Hotz sold 745 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $655.13, for a total transaction of $488,071.85. Following the completion of the sale, the chief accounting officer now owns 3,180 shares of the company’s stock, valued at approximately $2,083,313.40. The disclosure for this sale can be found here. Insiders have sold a total of 4,717 shares of company stock worth $3,117,156 over the last 90 days. Insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. raised their price objective on Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a research note on Friday, February 23rd. StockNews.com cut Intuit from a “buy” rating to a “hold” rating in a report on Monday, April 22nd. Evercore ISI upped their target price on Intuit from $670.00 to $725.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Finally, KeyCorp lifted their price target on Intuit from $700.00 to $720.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 27th. Five analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $650.23.

Intuit Stock Up 1.6 %

INTU stock traded up $10.16 during trading hours on Friday, hitting $636.55. The company’s stock had a trading volume of 1,192,496 shares, compared to its average volume of 1,208,945. The stock has a 50 day moving average price of $640.26 and a two-hundred day moving average price of $602.74. Intuit Inc. has a 12 month low of $400.22 and a 12 month high of $671.01. The company has a market capitalization of $178.23 billion, a PE ratio of 64.95, a price-to-earnings-growth ratio of 3.81 and a beta of 1.21. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, topping the consensus estimate of $2.30 by $0.33. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The firm had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same period in the prior year, the business posted $1.05 earnings per share. The business’s quarterly revenue was up 11.3% on a year-over-year basis. On average, equities research analysts expect that Intuit Inc. will post 11.27 earnings per share for the current year.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th were given a dividend of $0.90 per share. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a yield of 0.57%. Intuit’s payout ratio is currently 36.73%.

Intuit Company 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.