Wells Fargo & Company MN raised its holdings in Intuit Inc. (NASDAQ:INTU) by 80.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,465,647 shares of the software maker’s stock after purchasing an additional 652,201 shares during the quarter. Wells Fargo & Company MN owned 0.57% of Intuit worth $194,653,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Flinton Capital Management LLC boosted its stake in shares of Intuit by 39.0% during the 1st quarter. Flinton Capital Management LLC now owns 9,576 shares of the software maker’s stock worth $1,111,000 after acquiring an additional 2,688 shares in the last quarter. QUANTRES ASSET MANAGEMENT Ltd boosted its stake in shares of Intuit by 2,125.0% during the 1st quarter. QUANTRES ASSET MANAGEMENT Ltd now owns 44,500 shares of the software maker’s stock worth $5,162,000 after acquiring an additional 42,500 shares in the last quarter. Guardian Life Insurance Co. of America boosted its stake in shares of Intuit by 0.5% during the 1st quarter. Guardian Life Insurance Co. of America now owns 940 shares of the software maker’s stock worth $109,000 after acquiring an additional 5 shares in the last quarter. State Treasurer State of Michigan boosted its stake in shares of Intuit by 0.3% during the 2nd quarter. State Treasurer State of Michigan now owns 79,984 shares of the software maker’s stock worth $10,623,000 after acquiring an additional 200 shares in the last quarter. Finally, Eqis Capital Management Inc. boosted its stake in shares of Intuit by 5.6% during the 2nd quarter. Eqis Capital Management Inc. now owns 3,164 shares of the software maker’s stock worth $420,000 after acquiring an additional 169 shares in the last quarter. 85.63% of the stock is currently owned by institutional investors.

Intuit Inc. (NASDAQ:INTU) opened at 141.56 on Friday. Intuit Inc. has a one year low of $103.22 and a one year high of $143.81. The firm has a 50-day moving average price of $137.54 and a 200 day moving average price of $130.48. The firm has a market capitalization of $36.38 billion, a P/E ratio of 38.05 and a beta of 1.15.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Tuesday, August 22nd. The software maker reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. Intuit had a net margin of 18.76% and a return on equity of 82.43%. The firm had revenue of $842 million during the quarter, compared to analyst estimates of $808.82 million. During the same quarter last year, the business posted $0.08 EPS. The company’s revenue was up 11.7% on a year-over-year basis. Equities research analysts anticipate that Intuit Inc. will post $4.95 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 18th. Investors of record on Tuesday, October 10th will be paid a $0.39 dividend. This is a positive change from Intuit’s previous quarterly dividend of $0.34. The ex-dividend date is Friday, October 6th. This represents a $1.56 dividend on an annualized basis and a yield of 1.10%. Intuit’s dividend payout ratio (DPR) is currently 36.56%.

Several equities research analysts have recently commented on the company. Citigroup Inc. lowered Intuit from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $148.00 to $141.00 in a research note on Monday, June 26th. Credit Suisse Group boosted their price target on Intuit from $120.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, May 25th. Stifel Nicolaus boosted their price target on Intuit from $115.00 to $132.00 and gave the stock a “hold” rating in a research note on Wednesday, May 24th. Royal Bank Of Canada boosted their price target on Intuit from $126.00 to $140.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 24th. Finally, CIBC boosted their price target on Intuit from $125.00 to $141.00 and gave the stock an “outperform” rating in a research note on Friday, May 26th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $138.28.

In related news, insider Scott D. Cook sold 183,333 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $141.16, for a total value of $25,879,286.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Henry Tayloe Stansbury sold 15,415 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $141.27, for a total transaction of $2,177,677.05. Following the completion of the transaction, the executive vice president now directly owns 892 shares of the company’s stock, valued at approximately $126,012.84. The disclosure for this sale can be found here. Insiders sold a total of 685,925 shares of company stock valued at $94,039,250 in the last ninety days. Company insiders own 5.70% of the company’s stock.

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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.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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