Pittenger & Anderson Inc. Raises Holdings in Intuit Inc. (NASDAQ:INTU)

Pittenger & Anderson Inc. boosted its stake in shares of Intuit Inc. (NASDAQ:INTUGet Rating) by 821.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 4,378 shares of the software maker’s stock after acquiring an additional 3,903 shares during the period. Pittenger & Anderson Inc.’s holdings in Intuit were worth $2,816,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. JNBA Financial Advisors purchased a new stake in Intuit during the 4th quarter worth about $25,000. Mascoma Wealth Management LLC increased its holdings in shares of Intuit by 3,900.0% in the 4th quarter. Mascoma Wealth Management LLC now owns 40 shares of the software maker’s stock valued at $26,000 after acquiring an additional 39 shares during the last quarter. Industrial Alliance Investment Management Inc. purchased a new position in shares of Intuit in the 4th quarter valued at about $26,000. Baillie Gifford & Co. purchased a new position in shares of Intuit in the 4th quarter valued at about $30,000. Finally, D Orazio & Associates Inc. increased its holdings in shares of Intuit by 1,200.0% in the 3rd quarter. D Orazio & Associates Inc. now owns 78 shares of the software maker’s stock valued at $42,000 after acquiring an additional 72 shares during the last quarter. Institutional investors own 83.42% of the company’s stock.

In other news, EVP Laura A. Fennell sold 59,286 shares of the stock in a transaction that occurred on Wednesday, March 2nd. The stock was sold at an average price of $475.03, for a total transaction of $28,162,628.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James Alexander Chriss sold 368 shares of the firm’s stock in a transaction that occurred on Monday, February 28th. The shares were sold at an average price of $478.84, for a total value of $176,213.12. The disclosure for this sale can be found here. Corporate insiders own 3.27% of the company’s stock.

A number of research analysts have recently commented on INTU shares. Barclays dropped their price objective on Intuit from $715.00 to $625.00 and set an “overweight” rating on the stock in a report on Tuesday, February 22nd. Jefferies Financial Group dropped their price objective on Intuit from $790.00 to $700.00 and set a “buy” rating on the stock in a report on Friday, February 25th. BMO Capital Markets dropped their price objective on Intuit from $600.00 to $550.00 in a report on Monday, May 2nd. Bank of America decreased their target price on Intuit from $750.00 to $650.00 and set a “buy” rating for the company in a research report on Friday, February 25th. Finally, Stifel Nicolaus decreased their target price on Intuit from $600.00 to $580.00 and set a “buy” rating for the company in a research report on Monday, March 21st. Three investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat, Intuit has an average rating of “Buy” and a consensus price target of $611.45.

Intuit stock traded down $1.29 during mid-day trading on Thursday, reaching $354.88. 249,848 shares of the company were exchanged, compared to its average volume of 1,934,399. The firm has a market cap of $100.36 billion, a PE ratio of 44.42, a price-to-earnings-growth ratio of 3.16 and a beta of 1.16. The firm’s 50-day simple moving average is $453.88 and its two-hundred day simple moving average is $543.81. Intuit Inc. has a twelve month low of $354.52 and a twelve month high of $716.86. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.18 and a current ratio of 1.18.

Intuit (NASDAQ:INTUGet Rating) last issued its earnings results on Thursday, February 24th. The software maker reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.26). The business had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $2.72 billion. Intuit had a return on equity of 20.37% and a net margin of 19.03%. The business’s quarterly revenue was up 69.6% on a year-over-year basis. During the same period last year, the company posted $0.16 earnings per share. As a group, equities research analysts anticipate that Intuit Inc. will post 8.14 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, April 18th. Stockholders of record on Monday, April 11th were paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend was Friday, April 8th. Intuit’s dividend payout ratio (DPR) is 34.69%.

Intuit Profile (Get Rating)

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 ProConnect.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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