Certuity LLC Sells 1,399 Shares of Intuit Inc. (NASDAQ:INTU)

Certuity LLC lowered its position in Intuit Inc. (NASDAQ:INTU) by 40.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,089 shares of the software maker’s stock after selling 1,399 shares during the period. Certuity LLC’s holdings in Intuit were worth $1,306,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Brookstone Capital Management boosted its holdings in Intuit by 14.3% during the 3rd quarter. Brookstone Capital Management now owns 2,273 shares of the software maker’s stock valued at $1,185,000 after acquiring an additional 285 shares during the period. Commonwealth Equity Services LLC grew its stake in shares of Intuit by 28.5% in the 3rd quarter. Commonwealth Equity Services LLC now owns 58,605 shares of the software maker’s stock valued at $29,944,000 after purchasing an additional 13,013 shares during the last quarter. RMR Wealth Builders grew its stake in shares of Intuit by 62.3% in the 3rd quarter. RMR Wealth Builders now owns 1,828 shares of the software maker’s stock valued at $934,000 after purchasing an additional 702 shares during the last quarter. Suncoast Equity Management grew its stake in shares of Intuit by 1.8% in the 3rd quarter. Suncoast Equity Management now owns 73,179 shares of the software maker’s stock valued at $37,390,000 after purchasing an additional 1,286 shares during the last quarter. Finally, Accurate Wealth Management LLC boosted its stake in shares of Intuit by 67.2% in the third quarter. Accurate Wealth Management LLC now owns 903 shares of the software maker’s stock valued at $487,000 after buying an additional 363 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Price Performance

NASDAQ INTU traded down $6.96 on Tuesday, hitting $631.43. The stock had a trading volume of 373,661 shares, compared to its average volume of 1,234,751. Intuit Inc. has a 52-week low of $400.22 and a 52-week high of $671.01. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17. The company has a market capitalization of $176.80 billion, a price-to-earnings ratio of 64.87, a price-to-earnings-growth ratio of 3.88 and a beta of 1.21. The firm has a 50-day moving average of $639.91 and a 200-day moving average of $604.28.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, topping the consensus estimate of $2.30 by $0.33. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The firm had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.39 billion. During the same period last year, the company posted $1.05 EPS. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. Equities analysts expect that Intuit Inc. will post 11.27 EPS for the current year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th were paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend was Tuesday, April 9th. Intuit’s dividend payout ratio is currently 36.73%.

Insider Buying and Selling

In related news, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Intuit news, EVP Alex G. Balazs sold 280 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Lauren D. Hotz sold 745 shares of Intuit stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $655.13, for a total transaction of $488,071.85. Following the completion of the sale, the chief accounting officer now owns 3,180 shares of the company’s stock, valued at approximately $2,083,313.40. The disclosure for this sale can be found here. Insiders have sold 4,717 shares of company stock valued at $3,117,156 in the last 90 days. Company insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Evercore ISI boosted their target price on Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research note on Tuesday. Oppenheimer upped their target price on Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Barclays increased their price target on Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Finally, KeyCorp increased their target price on Intuit from $700.00 to $720.00 and gave the stock an “overweight” rating in a report on Wednesday, March 27th. Four investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $650.23.

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.