Addenda Capital Inc. Has $10.79 Million Stake in Intuit Inc. (NASDAQ:INTU)

Addenda Capital Inc. lifted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 8.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,413 shares of the software maker’s stock after buying an additional 1,245 shares during the quarter. Addenda Capital Inc.’s holdings in Intuit were worth $10,787,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of INTU. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Intuit during the 4th quarter worth approximately $25,000. West Branch Capital LLC grew its position in shares of Intuit by 79.2% during the 1st quarter. West Branch Capital LLC now owns 43 shares of the software maker’s stock worth $28,000 after buying an additional 19 shares during the period. MCF Advisors LLC grew its position in shares of Intuit by 119.0% during the 4th quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock worth $29,000 after buying an additional 25 shares during the period. Wetzel Investment Advisors Inc. acquired a new stake in shares of Intuit during the 4th quarter worth approximately $38,000. Finally, Sachetta LLC acquired a new stake in shares of Intuit during the 4th quarter worth approximately $39,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Buying and Selling

In related news, insider Scott D. Cook sold 14,748 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $567.40, for a total transaction of $8,368,015.20. Following the transaction, the insider now directly owns 6,701,721 shares in the company, valued at $3,802,556,495.40. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, insider Scott D. Cook sold 14,748 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $567.40, for a total transaction of $8,368,015.20. Following the transaction, the insider now directly owns 6,701,721 shares in the company, valued at $3,802,556,495.40. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $597.85, for a total transaction of $44,838,750.00. Following the completion of the transaction, the insider now owns 6,791,469 shares in the company, valued at $4,060,279,741.65. The disclosure for this sale can be found here. Over the last three months, insiders have sold 195,963 shares of company stock worth $114,442,445. Insiders own 2.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on INTU. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research note on Monday, May 27th. Jefferies Financial Group reissued a “buy” rating and set a $770.00 price objective on shares of Intuit in a research note on Thursday, June 13th. Wells Fargo & Company lifted their price objective on shares of Intuit from $725.00 to $750.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 21st. KeyCorp lifted their price objective on shares of Intuit from $720.00 to $740.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. Finally, Citigroup lifted their price objective on shares of Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Five investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, Intuit presently has an average rating of “Moderate Buy” and an average price target of $691.77.

Intuit Stock Down 1.4 %

Shares of INTU stock traded down $9.09 during trading on Wednesday, reaching $636.74. The company’s stock had a trading volume of 1,501,236 shares, compared to its average volume of 1,323,564. The business has a fifty day moving average price of $627.44 and a 200-day moving average price of $633.63. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.32. The company has a market cap of $178.00 billion, a price-to-earnings ratio of 58.57, a price-to-earnings-growth ratio of 3.14 and a beta of 1.23. Intuit Inc. has a one year low of $473.56 and a one year high of $676.62.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, May 23rd. The software maker reported $9.88 EPS for the quarter, topping analysts’ consensus estimates of $8.12 by $1.76. The business had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.65 billion. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $7.80 earnings per share. Analysts anticipate that Intuit Inc. will post 11.72 earnings per share for the current year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 18th. Investors of record on Wednesday, July 10th were issued a dividend of $0.90 per share. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $3.60 dividend on an annualized basis and a yield of 0.57%. Intuit’s payout ratio is 33.21%.

Intuit Profile

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.