Dynamic Technology Lab Private Ltd Takes Position in Intuit Inc. (NASDAQ:INTU)

Dynamic Technology Lab Private Ltd purchased a new position in shares of Intuit Inc. (NASDAQ:INTU) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 2,080 shares of the software maker’s stock, valued at approximately $1,291,000.

A number of other hedge funds have also added to or reduced their stakes in INTU. LGT Financial Advisors LLC acquired a new position in Intuit during the 2nd quarter worth approximately $25,000. Cultivar Capital Inc. acquired a new position in shares of Intuit during the second quarter worth $26,000. Fairway Wealth LLC bought a new position in shares of Intuit in the 2nd quarter valued at $26,000. Northwest Investment Counselors LLC acquired a new stake in shares of Intuit during the 3rd quarter valued at $27,000. Finally, Hobbs Group Advisors LLC bought a new stake in Intuit during the 2nd quarter worth $35,000. 83.66% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Intuit news, CFO Sandeep Aujla sold 775 shares of Intuit stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total transaction of $466,015.25. Following the transaction, the chief financial officer now directly owns 4,451 shares of the company’s stock, valued at $2,676,430.81. The trade was a 14.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eve B. Burton sold 2,988 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $649.87, for a total transaction of $1,941,811.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,265 shares of company stock valued at $35,200,125. Corporate insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

INTU has been the subject of a number of research reports. Stifel Nicolaus dropped their price objective on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. JPMorgan Chase & Co. raised their target price on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Susquehanna reiterated a “positive” rating and issued a $757.00 price target on shares of Intuit in a research report on Friday, August 16th. Scotiabank assumed coverage on Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective for the company. Finally, BMO Capital Markets upped 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. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Intuit has a consensus rating of “Moderate Buy” and a consensus target price of $737.44.

Intuit Trading Up 0.7 %

Shares of Intuit stock opened at $638.83 on Wednesday. The stock has a market capitalization of $178.95 billion, a PE ratio of 62.02, a price-to-earnings-growth ratio of 3.13 and a beta of 1.25. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78. The stock has a 50 day moving average price of $634.46 and a two-hundred day moving average price of $631.29. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same quarter in the previous year, the business posted $1.14 EPS. Intuit’s quarterly revenue was up 10.2% on a year-over-year basis. As a group, equities analysts anticipate that Intuit Inc. will post 14.05 earnings per share for the current fiscal year.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $4.16 dividend on an annualized basis and a yield of 0.65%. Intuit’s dividend payout ratio (DPR) is currently 40.39%.

About Intuit

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.