Natixis Advisors LLC Buys 19,854 Shares of Intuit Inc. (NASDAQ:INTU)

Natixis Advisors LLC grew its stake in shares of Intuit Inc. (NASDAQ:INTU) by 5.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 404,536 shares of the software maker’s stock after purchasing an additional 19,854 shares during the period. Natixis Advisors LLC’s holdings in Intuit were worth $251,216,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Legal & General Group Plc boosted its holdings in Intuit by 1.0% in the second quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker’s stock worth $1,538,236,000 after acquiring an additional 23,995 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Intuit by 17.3% during the second quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock worth $1,062,578,000 after purchasing an additional 238,486 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Intuit by 4.2% in the 2nd quarter. Principal Financial Group Inc. now owns 1,407,862 shares of the software maker’s stock worth $925,262,000 after purchasing an additional 56,370 shares in the last quarter. Capital World Investors grew its position in Intuit by 1.0% in the 1st quarter. Capital World Investors now owns 1,188,779 shares of the software maker’s stock valued at $772,706,000 after purchasing an additional 12,068 shares during the period. Finally, Unisphere Establishment increased its stake in Intuit by 4.2% during the 2nd quarter. Unisphere Establishment now owns 1,000,000 shares of the software maker’s stock valued at $657,210,000 after purchasing an additional 40,000 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other news, CFO Sandeep Aujla sold 775 shares of Intuit stock in a transaction on Thursday, October 3rd. The stock was 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 directly owns 4,451 shares in the company, valued at approximately $2,676,430.81. The trade was a 14.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Laura A. Fennell sold 30,159 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $642.36, for a total value of $19,372,935.24. Following the sale, the executive vice president now directly owns 52,038 shares in the company, valued at $33,427,129.68. This trade represents a 36.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,297 shares of company stock valued at $35,220,046 over the last three months. 2.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

INTU has been the topic of a number of recent research reports. Stifel Nicolaus raised their price objective on shares of Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research note on Monday, September 30th. Bank of America boosted their price objective on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. BMO Capital Markets raised their target price on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Finally, JPMorgan Chase & Co. upped their price target on Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $739.24.

Intuit Stock Down 1.8 %

INTU opened at $687.87 on Friday. Intuit Inc. has a twelve month low of $552.68 and a twelve month high of $714.78. The company’s 50-day moving average price is $633.08 and its two-hundred day moving average price is $630.06. The stock has a market cap of $192.80 billion, a price-to-earnings ratio of 65.82, a PEG ratio of 3.45 and a beta of 1.25. 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 announced its quarterly earnings data 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. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The business had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same period in the prior year, the company earned $0.40 earnings per share. Intuit’s revenue was up 17.4% compared to the same quarter last year. As a group, equities analysts expect that Intuit Inc. will post 14.04 earnings per share for the current year.

Intuit Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Thursday, October 10th were paid a $1.04 dividend. This is a boost from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date was Thursday, October 10th. Intuit’s payout ratio is currently 39.81%.

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.