Clifford Swan Investment Counsel LLC Boosts Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Clifford Swan Investment Counsel LLC grew its position in shares of Intuit Inc. (NASDAQ:INTUGet Rating) by 3.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 46,270 shares of the software maker’s stock after buying an additional 1,698 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in Intuit were worth $17,921,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Victory Capital Management Inc. raised its stake in shares of Intuit by 35.5% during the third quarter. Victory Capital Management Inc. now owns 269,085 shares of the software maker’s stock valued at $104,222,000 after acquiring an additional 70,425 shares during the last quarter. PDT Partners LLC bought a new position in Intuit in the second quarter worth about $2,049,000. Montag & Caldwell LLC bought a new position in Intuit in the second quarter worth about $8,039,000. Bridges Investment Management Inc. raised its stake in Intuit by 1.3% in the third quarter. Bridges Investment Management Inc. now owns 3,410 shares of the software maker’s stock worth $1,321,000 after buying an additional 44 shares in the last quarter. Finally, AE Wealth Management LLC raised its stake in Intuit by 34.9% in the second quarter. AE Wealth Management LLC now owns 15,234 shares of the software maker’s stock worth $5,872,000 after buying an additional 3,938 shares in the last quarter. 82.65% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP James Alexander Chriss sold 597 shares of Intuit stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $400.00, for a total transaction of $238,800.00. Following the completion of the transaction, the executive vice president now directly owns 344 shares of the company’s stock, valued at approximately $137,600. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CAO Lauren D. Hotz sold 400 shares of Intuit stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $416.01, for a total transaction of $166,404.00. Following the completion of the transaction, the chief accounting officer now directly owns 2,067 shares of the company’s stock, valued at approximately $859,892.67. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP James Alexander Chriss sold 597 shares of Intuit stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $400.00, for a total transaction of $238,800.00. Following the transaction, the executive vice president now directly owns 344 shares of the company’s stock, valued at $137,600. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,086 shares of company stock valued at $1,258,434. Company insiders own 3.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Bank of America cut their price target on shares of Intuit from $500.00 to $475.00 and set a “buy” rating on the stock in a report on Wednesday, November 30th. Stifel Nicolaus cut their price target on shares of Intuit from $525.00 to $475.00 and set a “buy” rating on the stock in a report on Friday, September 30th. Oppenheimer cut their price target on shares of Intuit from $516.00 to $476.00 and set an “outperform” rating on the stock in a report on Wednesday, November 30th. Wells Fargo & Company dropped their target price on shares of Intuit from $525.00 to $475.00 and set an “overweight” rating on the stock in a report on Wednesday, November 30th. Finally, Citigroup decreased their price target on shares of Intuit from $498.00 to $462.00 in a research report on Thursday, December 1st. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $499.21.

Intuit Price Performance

Shares of NASDAQ:INTU traded down $10.52 on Wednesday, reaching $391.03. The company’s stock had a trading volume of 52,980 shares, compared to its average volume of 1,347,380. Intuit Inc. has a 52-week low of $339.36 and a 52-week high of $579.96. The company has a market cap of $109.85 billion, a P/E ratio of 59.53, a PEG ratio of 3.08 and a beta of 1.15. The company has a 50-day simple moving average of $392.80 and a 200 day simple moving average of $411.89. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.37 and a current ratio of 1.37.

Intuit (NASDAQ:INTUGet Rating) last issued its quarterly earnings data on Tuesday, November 29th. The software maker reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.49. Intuit had a net margin of 14.10% and a return on equity of 14.31%. The business had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.50 billion. As a group, equities research analysts anticipate that Intuit Inc. will post 8.99 EPS for the current fiscal year.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 18th. Investors of record on Tuesday, January 10th were paid a dividend of $0.78 per share. The ex-dividend date was Monday, January 9th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 0.80%. Intuit’s dividend payout ratio is presently 47.49%.

Intuit Company Profile

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Intuit, Inc engages in the provision of business and financial management solutions. It operates through the following segments: Small Business and Self-Employed, Consumer, Credit Karma, and ProConnect. The Small Business and Self-Employed segment offers QuickBooks financial and business management online services and desktop software, payroll solutions, payment processing solutions, and financing for small businesses.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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