Sentry Investment Management LLC Reduces Stake in Intuit Inc. (INTU)

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Sentry Investment Management LLC lessened its position in Intuit Inc. (NASDAQ:INTU) by 32.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,766 shares of the software maker’s stock after selling 5,063 shares during the period. Sentry Investment Management LLC’s holdings in Intuit were worth $2,448,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Fundsmith Equity Fund L.P. acquired a new stake in shares of Intuit during the second quarter worth $810,956,000. FMR LLC raised its position in shares of Intuit by 14.3% during the second quarter. FMR LLC now owns 10,343,136 shares of the software maker’s stock worth $2,113,155,000 after purchasing an additional 1,290,503 shares during the period. BlackRock Inc. raised its position in shares of Intuit by 5.2% during the second quarter. BlackRock Inc. now owns 17,394,902 shares of the software maker’s stock worth $3,553,866,000 after purchasing an additional 866,776 shares during the period. Morgan Stanley raised its position in shares of Intuit by 25.1% during the second quarter. Morgan Stanley now owns 2,623,888 shares of the software maker’s stock worth $536,074,000 after purchasing an additional 525,743 shares during the period. Finally, Millennium Management LLC raised its position in shares of Intuit by 287.7% during the second quarter. Millennium Management LLC now owns 639,961 shares of the software maker’s stock worth $130,747,000 after purchasing an additional 474,879 shares during the period. 87.18% of the stock is currently owned by institutional investors.

NASDAQ:INTU opened at $222.17 on Friday. The firm has a market cap of $57.39 billion, a P/E ratio of 49.04, a price-to-earnings-growth ratio of 2.54 and a beta of 1.19. Intuit Inc. has a 1-year low of $150.43 and a 1-year high of $231.84. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.16.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, August 23rd. The software maker reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.09. The firm had revenue of $988.00 million for the quarter, compared to analyst estimates of $952.67 million. Intuit had a return on equity of 67.39% and a net margin of 20.31%. Intuit’s quarterly revenue was up 17.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.20 earnings per share. Equities research analysts predict that Intuit Inc. will post 5.24 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 18th. Investors of record on Wednesday, October 10th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 0.85%. This is a positive change from Intuit’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Tuesday, October 9th. Intuit’s payout ratio is presently 41.50%.

In other Intuit news, EVP Henry Tayloe Stansbury sold 3,651 shares of the business’s stock in a transaction dated Friday, September 21st. The stock was sold at an average price of $221.54, for a total value of $808,842.54. Following the transaction, the executive vice president now owns 4,048 shares in the company, valued at $896,793.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brad D. Smith sold 254,325 shares of the business’s stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $227.66, for a total value of $57,899,629.50. Following the completion of the transaction, the chief executive officer now owns 415,445 shares in the company, valued at approximately $94,580,208.70. The disclosure for this sale can be found here. Insiders have sold 622,236 shares of company stock worth $137,883,071 over the last three months. 5.59% of the stock is owned by insiders.

A number of equities research analysts have recently issued reports on INTU shares. Zacks Investment Research raised Intuit from a “hold” rating to a “buy” rating and set a $243.00 target price on the stock in a research report on Tuesday, August 28th. Barclays boosted their target price on Intuit from $204.00 to $219.00 and gave the stock an “equal weight” rating in a research report on Friday, September 7th. Credit Suisse Group boosted their target price on Intuit from $230.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, September 28th. Wells Fargo & Co boosted their target price on Intuit from $215.00 to $235.00 and gave the stock an “outperform” rating in a research report on Monday, August 27th. Finally, Oppenheimer boosted their target price on Intuit from $206.00 to $224.00 and gave the stock an “outperform” rating in a research report on Friday, August 24th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $224.29.

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Intuit Profile

Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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