Balasa Dinverno & Foltz LLC raised its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 31.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,870 shares of the software maker’s stock after purchasing an additional 1,159 shares during the period. Balasa Dinverno & Foltz LLC’s holdings in Intuit were worth $692,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Comgest Global Investors S.A.S. increased its stake in Intuit by 2.4% during the second quarter. Comgest Global Investors S.A.S. now owns 439,976 shares of the software maker’s stock valued at $58,433,000 after purchasing an additional 10,400 shares during the last quarter. Schroder Investment Management Group increased its stake in Intuit by 218.4% during the second quarter. Schroder Investment Management Group now owns 229,027 shares of the software maker’s stock valued at $30,483,000 after purchasing an additional 157,101 shares during the last quarter. Guardian Life Insurance Co. of America increased its stake in Intuit by 0.5% during the first quarter. Guardian Life Insurance Co. of America now owns 940 shares of the software maker’s stock valued at $109,000 after purchasing an additional 5 shares during the last quarter. State Treasurer State of Michigan increased its stake in Intuit by 0.3% during the second quarter. State Treasurer State of Michigan now owns 79,984 shares of the software maker’s stock valued at $10,623,000 after purchasing an additional 200 shares during the last quarter. Finally, Eqis Capital Management Inc. increased its stake in Intuit by 5.6% during the second quarter. Eqis Capital Management Inc. now owns 3,164 shares of the software maker’s stock valued at $420,000 after purchasing an additional 169 shares during the last quarter. Hedge funds and other institutional investors own 85.97% of the company’s stock.

Several analysts have weighed in on the stock. Argus assumed coverage on shares of Intuit in a research note on Wednesday, September 20th. They set a “buy” rating and a $165.00 target price for the company. Wells Fargo & Company upgraded shares of Intuit from a “market perform” rating to an “outperform” rating and set a $163.00 target price for the company in a research note on Thursday, September 21st. UBS AG lowered shares of Intuit to an “underperform” rating in a research note on Wednesday, September 27th. Raymond James Financial, Inc. lowered shares of Intuit from a “market perform” rating to an “underperform” rating in a research note on Wednesday, September 27th. Finally, William Blair assumed coverage on shares of Intuit in a research note on Tuesday, September 19th. They set an “outperform” rating for the company. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company. Intuit presently has a consensus rating of “Hold” and an average price target of $142.74.

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In other news, CFO R Neil Williams sold 184,585 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $141.11, for a total value of $26,046,789.35. Following the completion of the sale, the chief financial officer now directly owns 64,620 shares in the company, valued at $9,118,528.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Scott D. Cook sold 183,334 shares of the firm’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $135.22, for a total value of $24,790,423.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,084,194 shares of company stock valued at $151,162,540. 5.70% of the stock is currently owned by corporate insiders.

Intuit Inc. (NASDAQ:INTU) traded up 0.92% during midday trading on Friday, reaching $147.97. 1,175,841 shares of the company traded hands. Intuit Inc. has a 12-month low of $103.22 and a 12-month high of $148.42. The company has a market cap of $37.73 billion, a price-to-earnings ratio of 39.78 and a beta of 1.15. The company has a 50-day moving average price of $143.68 and a 200-day moving average price of $135.12.

Intuit (NASDAQ:INTU) last announced its earnings results on Tuesday, August 22nd. The software maker reported $0.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.03. Intuit had a return on equity of 82.43% and a net margin of 18.76%. The company had revenue of $842.00 million during the quarter, compared to analyst estimates of $808.82 million. During the same period last year, the company posted $0.08 earnings per share. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, analysts predict that Intuit Inc. will post $4.95 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 18th. Stockholders of record on Tuesday, October 10th were paid a $0.39 dividend. The ex-dividend date of this dividend was Friday, October 6th. This is a positive change from Intuit’s previous quarterly dividend of $0.34. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.05%. Intuit’s dividend payout ratio (DPR) is 41.94%.

About Intuit

Intuit Inc is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. The Company operates through three segments: Small Business, Consumer Tax and ProConnect. The Small Business segment serves and advises small businesses and the accounting professionals, and includes QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions.

Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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